New York-based ad tech firm AppNexus has announced it will be splitting its core business into four different units in an attempt to capitalise on a recent spout of growth.
The company will now offer ad services via dedicated departments for Publishers, Marketplaces, Programmatic Media Companies, Advertisers and Agencies.
To support the running of these divisions, the company has announced that existing employees Ryan Christensen, Casey Birtwell and Andy Atherton will take general manager roles in Publishers, Programmatic Media Companies and Marketplaces respectively.
A leading representative for the Agencies and Advertisers department will be decided at a later date and the company is hoping that its new structure leads to the creation of several market-leading businesses.
Ins and outs
AppNexus is looking to build off a strong Q3 for business, a period which year-on-year revenue rose 63%.
Continued growth of the enterprise has supported the expansion of its international footprint, which now encompasses 20 offices staffed with over 750 employees. While the readings for Q4 are almost on the way, AppNexus has been keen to build on this success and prepare for what could be around the corner.
A period of transition at the company is underway and has already seen a number of personnel changes. In addition to the promotions of Christensen, Birtwell and Atherton, CIO Igor Shindel has been announced the leader of four engineering teams which will provide technical assistance to each of the new departments.
Current CTO Geir Magnusson, who was promoted to the role earlier this year, will leave AppNexus as part of the restructure.
Despite only being founded in 2007, App Nexus has managed to make big strides in the area of online ad trading. Its progression has been aided by global uptake of programmatic ad solutions, which represents one of the company’s key focuses.
As reported by PerformanceIN, the company was valued at $1.2 billion earlier this year in light of receiving up to $100 million worth of external investment for ‘aggressive expansion’ in specific markets.
“We’ve gotten to where we are today by refusing to rest on our laurels and by constantly evolving to seize new opportunities,” said CEO and co-founder Brian O’Kelley, who has witnessed the firm’s rise to prominence first-hand.
“This new structure will empower our world-class executives with the autonomy to succeed, and will provide each of our businesses increased alignment to innovate and grow as AppNexus becomes a truly multi-product company.”