• by Tanya Gazdik , January 19, 2009

Editor's Note: This story has been updated.

An announcement that GoFish CEO Matt Freeman has started a new digital company called Betawave is expected today.

Freeman, 39, became CEO and a board member of GoFish--a San Francisco-based digital media and entertainment company--in June, after leaving the CEO post at Omnicom's Tribal DDB Worldwide. A self-proclaimed entrepreneur, Freeman founded that company in 1998 when it launched as the digital arm of DDB. He was recruited from Modem Media by Ken Kaess and Keith Reinhard, who were DDB's CEO and chairman at the time.

GoFish secured $22.5 million in private placement financing in December led by Panorama Capital, Rustic Canyon Partners and Rembrandt Venture Partners. The company provides online services including virtual worlds, advergames, and safe communities for youth and their parents by aggregating and distributing online content across a network of Web sites for which GoFish is the exclusive brand advertising partner.