Clearspring CEO McGrory Touts Data, Social
Former Yahoo executive Ramsey McGrory just found a new home as CEO of social-media software company Clearspring.
"Data and social are where incredible innovation is happening," McGrory said Monday in a nod to Clearspring's expertise.
At Yahoo, McGrory led the Yahoo US data business and digital advertising exchange Right Media.
McGrory replaces Clearspring founder Hooman Radfar, who will continue to drive the company's product and marketing in his new role as executive chairman. Current Chairman Ted Leonsis will remain on the board of directors.
"Clearspring is at an inflection point," said Radfar. "Ramsey's operational expertise in scaling data-driven and large-platform businesses operations is just what we need to take our rapidly growing company to the next level."
In May, Clearspring secured $20 million in new funding, with which it planned to consider acquisitions opportunities, along with other options to broaden its product portfolio.
Founded in 2004, Clearspring has raised a total of $60 million to expand its Web presence, while managing to redefine its core business along the way.
Currently, millions of Web sites rely on Clearspring's AddThis platform, where visitors can share articles, videos and other content across their social networks.
Having accumulated ample consumer data in the process, Clearspring has built a business connecting major brands with millions of Web Internet users in real-time.
With revenue on track to triple this year, according to Clearspring, the company recently said it was hiring a new employee nearly every week, which it expected to result in almost doubling its staff this year.
Clearspring recently announced the integration of Audience Platform with major demand-side platforms, including WPP's Media Innovation Group, Invite Media, MediaMath, DataXu, Turn and Yahoo's Right Media Exchange.
The platform taps into the company's real-time data processing engine to aggregate influence and intent data from across the AddThis platform, which now reaches 1 billion unique users monthly.
AddThis, available on the Web and mobile, offers various marketing insights into consumers through social signals, such as Facebook "likes," interests and purchase intent.
Along with Institutional Venture Partners, Clearspring investors including New Enterprise Associates, Novak Biddle Venture Partners, former AOL vice chair and president Ted Leonsis, AOL co-founder Steve Case, Capital One co-founder Nigel Morris and Silicon Valley super-angel Ron Conway.