market spotlight: ad tech

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Daniel Bernstein

Daniel Bernstein, Vice President at Corum, has worked in a number of roles over a twenty year career in high technology, most recently as the founder and CEO of Sandlot Games Corporation, a leading casual games publisher and developer. Having sold Sandlot Games to Digital Chocolate in 2011, Daniel started a games studio and a consulting practice where he advises larger companies such as RealNetworks and smaller high growth businesses on product development, strategic initiatives, and M&A opportunities.

Prior to Sandlot Games, Daniel Bernstein held director level positions in companies such as Wild Tangent and Monolith. Daniel holds a BS in Computer Science and an MA in Music Composition from the University of Virginia.

Moderator

Yasmin Khodamoradi

Yasmin joined Corum Group in 2015 as a research analyst. Previously she worked as a finance and operations coordinator at a financial technology startup and provided consultation services to an institutional investing advisory firm. Yasmin graduated from the Foster School of Business at the University of Washington, specializing in Finance and International Business.

Research Analyst

Total Media Ad Spending Worldwide ($B)

Source: eMarketer

US Mobile Search Ad Spending ($B)

Source: eMarketer

US Mobile vs. Desktop Search Volume (billions)

Source: eMarketer

Mobile Internet Ad Spending Worldwide

Source: eMarketer

Ad Revenue

Mobile

+46% +72%

73% 89%

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AdTech M&A Activity (2012-2015)

Total Disclosed Deal Value ($mm) Total Deal Count

Source: 451 Research

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AdTech M&A Activity (2012-2015)

Total Disclosed Deal Value ($mm) Total Deal Count

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2219 18

14 14 13 1210 10 9 9 9

Top Strategic Acquirers: 2014

Sold to

Target: BrightRollAcquirer: Yahoo!Date Announced: November 2014Transaction Value: $640 million

- Programmatic video solutions, including a demand side platform and marketplace

- Accelerates Yahoo’s advances into digital video, making its video advertising platform one of the largest in the US

Sold to

Target: FlurryAcquirer: Yahoo!Date Announced: July 2014Transaction Value: $270 million

- Mobile application analytics and ad network

- Additional insight on consumer behavior on mobile apps.

Sold to

Target: [x+1]Acquirer: Rocket FuelDate Announced: August 2014Transaction Value: $230 million

- DSP/DMP, programmatic marketing and data management solutions

- Strengthens media buying algorithms and direct-to-advertiser capabilities

Sold to

Target: LiveRailAcquirer: FacebookDate Announced: July 2014Transaction Value: $500 million

- Platform connecting publishers to advertisement networks, demand side platforms, trading desks, and real-time biddable exchanges

- Yield optimization technology and publisher relationships give Facebook an edge in competing for video ad dollars.

Sold to

Target: FreewheelAcquirer: ComcastDate Announced: March 2014Transaction Value: $360 million

- Technology platform for ad management and monetization for the television industry

- Highlights industry’s move toward addressable TV buys at a programmatic scale

Sold to

Target: AdColonyAcquirer: OperaDate Announced: June 2014Transaction Value: $350 million

- Mobile video ad network and monetization platform

- Strengthened Opera’s mobile video ad capabilities and highlighted its focus on engaging ad formats

Sold to

Transaction Value: $532 million

- Digital ad platform and retargeting

Sold to

Sold to

Transaction Value: ~$30 million

- Analytics tools for social media campaigns

Transaction Value: ~$30 million

- Digital ad platform and retargeting

Sold to

Target: AOLAcquirer: VerizonDate Announced: May 2015Transaction Value: $4.4 billion

- Advertising.com - digital advertising platform

- Verizon’s data on customers should enhance Aol’s advertising business

Demand Side Platforms Rocket Fuel [x+1] ($230M), Blinkx LYFE Mobile, Single Touch DoubleVision Networks ($3.6M)

Supply Side Platforms Millennial Media Nexage ($107.5M), Blinkx AdKarma ($15M), RNTS Media Fyber ($190M)

Core Technology (e.g. Analytics, Retargeting, DMPs)

Gravity4Triggit, AppNexus Xaxis ($225M), GoDaddy Mad Mimi ($42M), Linkedin Bizo ($175M), Twitter TapCommerce ($100M), AOL Gravity ($90.7M), Comcast Freewheel ($360M), Rocket Fuel [x+1] ($230M)

Ad Exchanges Matomy Media Group MobFox ($17.6M), Yahoo BrightRoll ($640M), RTL Group SpotXchange ($144M)

Ad Networks Zenovia AdJuggler ($10M), Opera AdVine, Yahoo Flurry ($270M), Opera Apprupt

Notable AdTech Deals by Category (2014)

Danan Margason

Danan is General Counsel and a member of the executive team at TUNE, Inc. 500’s 88th fastest-growing company in 2014. TUNE (www.tune.com) creates Software-as-a-Service (SaaS) products to help marketers manage performance advertising relationships across mobile and desktop. Danan is heavily involved with TUNE’s business operations, and his team manages key aspects of TUNE’s M&A activity. TUNE is based in Seattle and has offices in San Francisco, NYC, Dallas, Tel Aviv, Seoul, Berlin, and London. Danan is on the executive team and manages the legal team and much of the company's operations.

General Counsel

Ragnar Kruse

As a serial entrepreneur with 30+ years experience in IT, Ragnar Kruse understands the unique challenges in bringing new technologies to market. He has built up several companies from inception to market launch in both the US and Europe.

At Intershop Communications, a leader in E-Commerce software solutions, Ragnar was VP of Sales and Marketing in San Francisco. During his tenure, Ragnar was instrumental in the company’s growth and ushering it through a successful IPO on NASDAQ and the “Neuer Markt” in 1998.

More recently, Ragnar held key management positions at high-tech companies in the U.S. and Europe including eCharge and Xtramind. Through his many years in IT, Ragnar maintains strong relationships with companies in the telecommunications and mobile sectors, including Deutsche Telekom, Telekom New Zealand, Telstra, Telia, Cable & Wireless, Siemens, T-Online, T-Mobile, France Telecom, HP and SUN.

Ragnar started his career as an entrepreneur. In 1980, he founded IPT GmbH, a computer retail business that imported products into Germany from the USA and Taiwan. In 1987 he expanded his business by starting DTP Partner GmbH, a distribution company in Hamburg.

DTP Partner was the exclusive distributor of several desktop publishing solutions such as Corel and was instrumental in establishing international distribution agreements with American and Taiwanese companies. Ragnar studied law at the universities of Hamburg and Munich, Germany.

CEO

Hagai Tal

Hagai has extensive international management and business development experience, specializing in growing start-ups into profitable ventures/IPO, predominantly in the areas of on-line marketing, digital media/advertising and global financial processing. He has invested, led and developed companies for successful growth, continued investment and IPO/disposal including: Kontera, Amadesa, Payoneer, BlueSnap (formerly Plimus), Spark Networks (NYSE: LOV). Hagai is a Fellow of the third class of the Middle East Leadership Initiative of The Aspen Institute and a member of the Aspen Global Leadership Network.

CEO

Scott Braley

Scott Braley is senior vice president, Demand, at OpenX. He brings 16 years of ad tech sales leadership to the OpenX Demand team, where he works closely with agencies, agency trading desks and advertisers to help them understand the benefits of programmatic tools and why they should be an integral element of any comprehensive marketing strategy.

Before joining OpenX, Scott ran the U.S. Sales and Global Agency team for Facebook’s Atlas division, where he oversaw all U.S. new business and account management functions. Previously, Scott held various global and regional sales leadership roles for the Atlas division at Microsoft and aQuantive.

Prior to his 10 years collectively on the Atlas business, Scott held various sales and account management roles at Bluestreak, AdKnowledge, and TBS Media Management.

Scott holds a B.A. in Psychology from SUNY Albany.

SVP of Demand

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