Dive summary:
- PlaceIQ, a mobile advertising technology company, hired its first CFO, Scott Casey—currently the vice president-finance at Tumblr.
- PlaceIQ tracks smartphone usage and then helps businesses understand which consumer segments rule the web, so it will be a change of pace for Casey, who is coming from a consumer-facing company into his first CFO role.
- Casey is currently studying PlaceIQ's business model to discover any areas that are lucrative to the company.
From the article:
"Much of the company's success is due to the deal it struck with Starcom MediaVest Group (SMG) this spring to start tracking whether consumers who were served an ad for a retailer subsequently visited on that retailer's nearby locations.
SMG's retail clients include Best Buy and Walmart. The metric, which PlaceIQ has dubbed 'place visit rate,' is just one of many mobile tracking solutions the company is developing, Mr. McCall said. The company is now providing similar tracking metrics regarding movie viewership and consumers visiting electronics stores."
