Ex-Yahoo CFO Tim Morse Joins Adap.tv
Tim Morse spent the past 20 years working at companies that generate billions of dollars a year in revenue, most recently as the chief financial officer at Web pioneer Yahoo. Now he's trying to build one.
On Monday, Morse, 43 years old, became the CFO at privately held Adap.tv, which helps advertisers to buy video-advertising space on thousands of websites including Yahoo and music-video giant Vevo. Video ads generally are 15- or 30-second spots that appear before someone watches a video of their choosing, like this one.
The fast-growing Adap.tv, which was founded in 2007 and is based in San Mateo, Calif, said it generated nearly $100 million in revenue in 2012, up about 200% from $33.4 million in 2011. The company and its competitors, which include BrightRoll, Google and other video-ad "marketplaces" that match buyers with sellers, generally take a 20% to 30% cut of any transaction.