Monday, February 2, 2009

Former aQuantive CFO Michael Vernon Joins WidgetBucks Board

Matt Hulett
CEO, WidgetBucks

I wanted to jump on the WidgetBucks' blog this morning and share with everyone that Michael Vernon has joined our Board of Directors.

For those of you who know about Michael, this is a real coup for us here at WidgetBucks. For those of you who don't, Michael was the former CFO at aQuantive (acquired by Microsoft in 2007 for $6B -- yes, with a B) so he knows online advertising technology, knows how to inject ‘big thinking’ into an emerging company like ours, and he's a fantastic complement to our existing experienced Board and management team. His background includes being responsible for financially guiding aQuantive to profitability and a multi-billion dollar market cap before the Microsoft acquisition.

He joins WidgetBucks' Board at an important time, as we hit our second full year of rapid growth after seeing ad impression volume grew by 150 percent over the course of 2008.

In Michael's words: “When it comes to core fundamentals within the online advertising space – monetization, expansion and targeting – WidgetBucks is well positioned to be a big ad play. What further attracted me to this appointment is the management team’s successful history, new proprietary optimization technology, including YieldSense, and their sound financial backing and infrastructure.”

We've added a lot of industry experience lately. Michael is the third industry veteran to join WidgetBucks’ management team and/or Board in the last several months: Chief Revenue Officer Kirby Winfield joined in August, while Chief Financial Officer Jeff Bergstrom came on board in October. Combined, the two chief officers represent over $3 billion in shareholder value from past acquisitions.

Welcome, Michael!

- Matt Hulett
CEO, WidgetBucks