• November 14, 2008

Mobile ad company MoJiva has received an undisclosed first-round financing from Bertelsmann Digital Media Investments, the venture capital arm of the international media company Bertelsmann.

The New York City-based startup also named David Gwozdz as its chief executive. Gwozdz was a founding member of DoubleClick, where he helped develop the company's original media sales products and strategies and build its sales teams. Google acquired DoubleClick for $3 billion in March.

With the addition of Gwozdz and new funding, MoJiva plans to focus on product development and the expansion of its sales and marketing staff. MoJiva says its self-service mobile ad platform has served more than half a billion ads in less than the six months since it was launched.--Mark Walsh