The chief financial officer of an advertising technology company is not, as a rule, the sort of appointment that sets hearts racing on Madison Avenue. But Madhive, which operates a demand-side platform aimed at local broadcasters and their agencies, is betting that the right finance executive can help it navigate what the company's chief executive, Jim Wilson, called "our next chapter of omnichannel growth."
(One assumes the previous chapters were also about growth, though perhaps in fewer channels.)
The new hire is Luke Valvano, who most recently served as chief financial officer of Intersection, the out-of-home advertising company best known for operating the LinkNYC kiosks that replaced New York City's pay phones. Mr. Valvano also held the title of treasurer at CityBridge, the consortium that built the kiosks — a role that presumably required explaining to various municipal officials why the glowing monoliths were worth the trouble.
Before his tenure in street furniture, Mr. Valvano held positions at Great Bowery and Titan, both of which operate in the out-of-home space, and began his career at KPMG.
Madhive, which is based in New York and employs about 400 people, has built its business on selling technology to local television stations and regional agencies — a corner of the advertising world that has historically been underserved by the large platforms that cater to national advertisers. The company counts Fox, Hearst and News-Press & Gazette among its clients.
Mr. Valvano, in a statement, praised the company's "market-leading DSP" and expressed enthusiasm for its artificial intelligence offerings, which carry the name Maverick.
Whether the appointment signals an eventual sale, a capital raise or simply a desire for more sophisticated spreadsheets remains, for now, a matter between Madhive and its board.
Original story published in Adweek: "Madhive Appoints Luke Valvano as Chief Financial Officer"