Retailers shift their ad spending from TV, radio and print ads to digital ads.
BlueLight.com, the online retail venture formed by Kmart and Softbank Venture Capital, has recruited Christopher A. Lien as chief financial officer and vice president of corporate development. Lien will report to BlueLight CEO Mark H. Goldstein.
Along with his CFO duties, Lien will also manage BlueLight's relationship with its major investor, Kmart. He will oversee all capital raising and strategic transaction activities for BlueLight.com, including any potential initial public offering. Prior to joining BlueLight.com, Lien was managing director at Evercore Partners, which provides financial advisory services and private equity investing via Evercore Capital Partners' $510 million investment fund. Lien worked at Evercore for four years, where his advisory activities included projects for Dow Jones and Kmart. Lien served as Kmart's financial advisor during the formation of BlueLight.
Lien has more than 10 years of investment banking experience, having begun his career in the mergers and acquisitions department of Morgan Stanley. He has worked on a variety of Internet-related projects, including Dow Jones' joint ventures with CNBC and MSNBC; Dow Jones' joint venture with Reuters in the enterprise desktop business information market called Factiva; and Dow Jones ' joint venture with Excite@Home in the small business market called work.com.