LOS ANGELES--(BUSINESS WIRE)--Software and data platform, VideoAmp, has hired Paul Ross as Chief Financial Officer, who will also join the company’s Board of Directors. Ross joins VideoAmp’s executive team with the goal of scaling the company’s infrastructure. This comes at a pivotal moment for VideoAmp, which has seen over 700% growth over the last five years and is on track to approximately double revenue year-over-year in 2021. In addition to Ross’s hire, VideoAmp has made internal promotions, including Michael Parkes being named President, Nick Chakalos being named Chief Strategy Officer, Robert Leff (former CFO) being named Chief Investment Officer and Laura Tormey being named Chief Revenue Officer.
Newly appointed CFO, Paul Ross, commented: “I am thrilled to be joining VideoAmp at such an exciting time for the company. Now, more than ever, the industry needs holistic solutions to power the convergent TV ecosystem that connect linear, streaming and digital. There are other players in the market but no one has the assets that VideoAmp does. The opportunity to become the modern day advertising currency solution is very real. We’re on to something big here and I’m looking forward to having a lot of fun as it all unfolds.”
Ross has been CFO to five public companies and brings extensive expertise to the position, with his most recent and notable role as CFO of The Trade Desk, which he joined in 2014 at the late startup stage and presided as CFO throughout the IPO process. Departing in 2020, The Trade Desk's value grew over 3,000% during Ross’ six year tenure with the company.
Co-Founder and CEO of VideoAmp, Ross McCray, commented: “Just because we have historically grown over 100% YoY doesn’t mean we can’t do better. Every company in the world maintains considerable slack in its system with an abundance of optimization potential to push through limiting beliefs and artificial ceilings by increasing intensity, sharpening focus and growing outside of its comfort zones. Paul is the kind of leader who intrinsically understands that his role is to exploit every single opportunity, to relentlessly raise standards, step up the pace and over promise, then over deliver. He has previously led one of the most successful runs in the history of enterprise software and I look forward to partnering with him to do what is necessary to beat his previous records at VideoAmp.”
Ross’ hire is a strategic move for VideoAmp as it seizes the opportunity to create measurement, currency and optimization solutions for the $160B convergent TV ecosystem. With the pandemic accelerating shifts in the TV landscape, marketers and media owners now have to address the complex challenges in gaining a holistic understanding of media delivery and performance across TV and digital. As an alternative solution to the legacy model of television measurement, VideoAmp is further investing in their proprietary dataset that commingles ACR and Set-Top-Box data across 28M households and integrates into multiple digital data sources using first-to-market privacy-safe methodologies like clean rooms. The use of clean rooms allows VideoAmp to accurately measure media on an impression level, with technological guarantees, while adhering to privacy guidelines and state laws. VideoAmp’s data, combined with a comprehensive toolset for planning, measurement, optimization and attribution, are all housed within the VideoAmp platform and provide a deduplicated view of advertising performance across linear, streaming and digital. The suite of tools and data enables marketers and media owners to reimagine the way brand marketing and media is valued, bought and sold.
Newly appointed President of VideoAmp, Michael Parkes, comments: “Having Paul join us will help solidify our unique positioning in the market. As one of the few omni-channel players in the convergent TV ecosystem, we are giving the industry reliable metrics for audience measurement along with advanced tools to optimize, enabling a more sophisticated and flexible advertising marketplace that benefits everyone. Consumer shift away from linear TV to streaming has disrupted the traditional TV advertising model creating a generational opportunity for VideoAmp to solve some of the industry's oldest problems. Connected TV ad spend is expected to grow nearly 40% in 2021 to $11B, with linear continuing to play a large role as the $70B linear market transitions to a more data-driven and addressable state. At the end of the day, our mission is to deliver more value to the marketers, the media owners and ultimately the consumer.”
As VideoAmp sets its sights on continued growth, the company is in search of additional key hires to further bolster their executive leadership team.
About VideoAmp
VideoAmp is a software and data company creating a convergent TV ecosystem by connecting the disparate systems across traditional TV, streaming and digital media. Siloed views into these systems are responsible for wasted advertising dollars, a decrease in publisher revenue opportunities and consumers being stuck with overly repetitive ads.
The VideoAmp platform and its suite of tools, creates a unified, privacy-first view of the audience that powers a more effective value exchange for the entire advertising industry. This value exchange enables an alternative media currency, which redefines how media is valued, bought and sold. Advertisers use VideoAmp’s technology to increase their return on investment with holistic data-driven planning, measurement, and optimization, while empowering publishers to effectively monetize audiences across their entire portfolio of assets. To learn more, visit us at videoamp.com.
