Largest Performance-Based Advertising Network Expands Board and Adds Two to Senior Staff
SAN JOSE, Calif. – MAY 9, 2005 – BlueLithium, Inc., the Internet’s largest performance- based advertising network, today announced that it has made two new strategic senior staff member hires and recruited its fifth board member. Tim Mahlman has become BlueLithium’s chief revenue officer, Kit Simon has joined the company as vice president of MidWest sales, and Bob Cohn will sit on BlueLithium’s board of directors. BlueLithium will also open an office location in Chicago, IL, where Kit Simon will be centrally located.
Following the company’s recent Series A funding of $11.5 million and a successful exhibition and event at the recent AD:Tech show in San Francisco, the company is continuing on its path toward new growth and industry leadership.
As chief revenue officer, Tim Mahlman will be responsible for all sales, business development, and strategy for BlueLithium’s advertising network. Prior to joining BlueLithium, Tim was senior vice president of sales at Winstar Interactive, an online ad representation company.
As vice president of Midwest sales, Kit Simon will be responsible for the sales management of the Midwest region. Kit most recently was director of sales for Claria, the leading publisher of ad-supported consumer software products; previously, she held several sales leadership positions at Excite@Home.
“I see BlueLithium as exciting and unique in ways that are meaningful for me as an employee and valuable for my clients,” said Tim Mahlman, chief revenue officer, BlueLithium. “Despite its young age, BlueLithium is already profitable at a multi-million dollar run rate. BlueLithium has the industry’s best and most intelligent optimization technology, it has publisher independence, and it can reach over 100 million unique users around the world. Our prospects for growth are dependent on our ability to provide value to our advertisers rapidly, and I’m looking forward to demonstrating that to our clients.”
Bob Cohn joins BlueLithium as the company’s fifth board member. As the co-founder of Octel Communications in 1982, Bob was the chairman and CEO of the company when it was purchased by Lucent in 1997. He then served as an executive vice president of Lucent and retired in 1999, when Octel was the worldwide leader in voice mail with over 100 million users and over $1 billion in revenue. Most recently, he was a partner with Sequoia Capital, a high-tech venture capital firm in Silicon Valley.
“By strengthening the team and adding a new office location, we take another important step in the growth of this company. Tim, Kit, and Bob are all experienced leaders who will add an enormous amount of leadership and technology experience,” said Gurbaksh Chahal, founder and CEO of BlueLithium. “With our recent funding, a world-class team, and new offices in the Midwest, we are able to bring our high-performance advertising solution to new markets.”
BlueLithium closed its Series A financing totaling approximately $11.5 million earlier this year. The investment was led by WaldenVC and 3i. The funds are being used to expand advertising sales operations globally, most immediately with a UK presence, and to further deploy BlueLithium’s optimization technology.
About BlueLithium, Inc.
For advertisers focused on response and results, BlueLithium is the performance-based advertising network that maximizes ROI through its proprietary ad serving technology. The company’s advertising network is driven by the industry’s most advanced targeting and optimization technology, offers a variety of advertising options for online marketers, and helps publishers maximize the value of online properties. For more information, see http://www.bluelithium.com
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