May 29, 2008
Online Media Daily
[x+1] Plus One More: Gets New CTO, Cash Infusion Too
'Predictive' online marketing firm [x+1] today is expected to bring in a new chief technology officer, Pat DeAngelis, Online Media Daily has learned.The appointment--confirmed by the company's chief financial officer, Nancy Lazaros--continues a major management overhaul at the company.'The company's been around for eight years, but it's gotten all new management in the past six months,' said Lazaros, who came on board late last year. (Until April 2006, [x+1] was known to the industry as Poindexter Systems.)DeAngelis joins [x+1] from Infotrieve, where he has been since 2006. As VP of technology, DeAngelis oversaw the development, implementation and deployment of all Infotrieve information systems and services, according to Infotrieve's Web site. Previously, DeAngelis served at CentrPort and as SVP of application development at Snyder Communications. He was also the founding partner and the head of technology development at Information Technology Partners. In these positions, DeAngelis has serviced such clients as Barnes and Noble, PCFlowers, Playboy Enterprises, and About.com.DeAngelis could not be reached for comment Wednesday evening. Infotrieve's press relations office did not return calls seeking comment.In February of this year, John Nardone took [x+1]'s reins as CEO. He had previously been co-president and chief client officer of Aegis Group's Marketing Management Analytics.Also, in April, former Marketing Management Analytics vice president and senior scientist Paul Davis joined [x+1] as vice president of analytics.To subsidize its new executive team and further develop its core technology, [x+1] secured $16 million in venture capital earlier this week. Led by Advanced Technology Ventures, this latest round of financing also included current investors Hudson Venture Partners and Blue Chip Venture Company. 'Their support will allow us to invest in the required people and new technologies,' Nardone said.[x+1] is looking to build on current initiatives in both media and website optimization, along with the application of its patented Predictive Optimization Engine to paid search and other market opportunities.Through the advanced Predictive Optimization Engine, [x+1] provides behavioral and predictive targeting techniques customized to target the needs of individual clients.[x+1]'s digital marketing services provide real-time, automated decision-making to increase the productivity of customer's interaction with online media and a marketer's Web presence. Based in New York City, [x+1] specializes in predictive online marketing solutions to help clients improve engagement and lift conversion rates in media and on-site.Expressing excitement over [x+1] products in development, Bob Hower, a general partner at Advanced Technology Ventures, has also joined the company's board of directors. '[x+1] already has a record of achievements,' Hower said. 'And the new products in the pipeline are just as exciting.'