NEW YORK MediaBank, the start-up ad-transaction processing company that is challenging Donovan Data Systems for leadership in the field, has appointed former AOL vice chairman Ted Leonsis to its board.
"We welcome Ted to our leadership team at MediaBank," said Brad Keywell, CEO of Chicago-based MediaBank. "We are extremely proud of the discipline and insight that our board offers, and believe the strategic direction they provide will ensure our position at the forefront of media buying and analytics technology."
Other MediaBank board members include: Betsy Holden, former CEO of Kraft Foods and current senior advisor to McKinsey & Co.; Linda Wolf, ex-CEO of Leo Burnett Worldwide; John Walter, former president of AT&T and ex-CEO of RR Donnelley; Jack Greenberg, former CEO of McDonald's and chairman of Western Union; and Dipak Jain, dean, Kellogg School of Management, Northwestern University.
The addition of Leonsis is one of several recent personnel and financial moves MediaBank has taken to strengthen its marketplace position. The company made headlines earlier in the year when it lured two of the biggest media shops -- Publicis Groupe agencies Starcom and MediaVest -- to switch from Donovan. Most of the other major media shops remain with Donovan, however.
Earlier this month, MediaBank received a $30 million cash infusion from tech capital venture firm New Enterprise Associates to continue to develop its system. In March, it hired Yahoo! veteran Greg Koerner as chief sales officer. "Greg is an advertising veteran and understands what emerging technologies mean to the industry," said Keywell. "He brings a wealth of knowledge and, most importantly, shares our vision to bring media buying technology into the digital age."
Koerner is a 23-year veteran of the ad industry, most recently at Yahoo!, where he was regional svp of sales, overseeing nearly one-third of all display advertising sales. Before that, he was vp of national ad sales at DoubleClick.
Earlier this week, the company unveiled a new Web analytics tool, MediaBank A|X 2.0, which provides detailed data analysis and measurement of various media. The firm says it can manage hundreds of data sources, including leading ad servers, TV and radio audits, search advertising and internal agency databases, to consolidate information on one dashboard in a real-time, data-integrated environment.
New board member Leonsis said, "MediaBank is meeting a critical need of media buyers -- one operations and analytics platform that addresses all media types, both digital and analog. This is game-changing technology that will set those who adopt it far ahead of those who don't, and I look forward to being a part of its continued success."