PlaceIQ Announces Record Revenue, Profitability and CFO Hire; Continuing Significant Growth In 2013
Appoints former Tumblr VP of Finance Scott Casey as CFO; Headcount multiplied 3x this year; Including numerous key executive hires
NEW YORK, August 14, 2013 – PlaceIQ (http://www.PlaceIQ.com), a leading provider of location–based audience solutions for marketers, today announced the appointment of Scott Casey as Chief Financial Officer. Casey joins PlaceIQ from Tumblr, where he served as Vice President of Finance through Yahoo’s $1.1 billion acquisition of the business in June.
Casey’s addition to the team is coupled with PlaceIQ’s report of record revenue increases over the last quarter, doubling expectations for Q2 and becoming profitable for the first time. This impressive growth showcases the power of mobile’s ever-growing importance in digital advertising, and location’s key place within that medium.
Scott Casey, no stranger to aiding successful exits for startups, joins PlaceIQ, fresh off his most recent role as VP of Finance and helping in Tumblr’s $1.1 Billion acquisition by Yahoo. He’s previously held senior positions at Zynga and MySpace.
“The incredibly strong leadership team we’ve built is enabling us to execute on the huge opportunity we have in front of us,” said Duncan McCall, PlaceIQ CEO and co-founder. “Our ability to derive high fidelity audiences from real world behaviors at scale, and measure those with our revolutionary ‘Place Visit Rate’ has been recognized in a major way by a significant cross section of advertisers and marketers, and we’ve had some tremendous growth across our business. We continue to roll out new capabilities around analytics and insights, which enable our partners to have a completely new way of understanding their customers, and we are very excited about the pipeline of innovative products we are launching in the near future.”
“What Impressed me first with PlaceIQ was its executive team, and I’m excited to join such an accomplished group,” Casey said. “When you consider the sophisticated technology platform they’ve built, and the power that location intelligence adds to such a wide range of industries, the opportunity and potential for PlaceIQ is enormous. I’m looking forward to contributing the organization’s future growth.”
With the company’s staff more than tripling since the beginning of the year and a recent $6.7M Series B funding round, PlaceIQ continues to add to its executive team. Industry veteran, and Sun Microsystems alumni, Stuart Sim joins as Senior Vice President of Technology and Engineering and Yasmeen Coning as Vice President of Marketing. Prior to PlaceIQ, Coning was head of marketing for the RGM Group and Demand Media’s eHow.com.
For more information about Place Visit Rate™ (PVR™), PlaceIQ’s groundbreaking new success metric created that measures real-world, in-store ROI visit http://www.placeiq.com/products/pvr/