New York—March 29, 2011—Magnetic (http://www.magnetic.com), the leader in search retargeting, today announced the addition of seven new hires to the team within the past month. The rapid additions come as the direct result of organic growth due to client and revenue increases as Magnetic continues to drive client advertiser and agency satisfaction and is poised to close the highest revenue producing quarter to date.
By integrating the targeting accuracy of search data with the reach and impact of display media technology, Magnetic is driving exceptional results for agencies, ad networks and demand-side platforms (DSPs) with a 74 percent increase in click through rates and an overall 325 percent increase in ROI.
Magnetic recently expanded lease of data centers on both coasts to launch new massive compute cluster of over 100 servers built on open source software Hadoop processing over 5 billions searches monthly just 5 minutes behind real time. Magnetic’s proprietary data solutions create a unique ability to balance between precision and scale and deliver the highest performance. This resulting search data exchange is available only through Magnetic and no other competing data exchanges sell Magnetic’s search data.
Among the new team members joining Magnetic this month is Jonathan Penn, who has signed on as vice president of national sales. Penn will oversee Magnetic sales and accounts from coast to coast as the company continues to drive new business. Most recently, Penn was director of sales, East coast at AT&T Advanced Ad Solutions, where he led the charge of converting traditional media dollars into various digital campaigns. Prior to AT&T, Penn also worked as director of sales, East coast at TheStreet.com; national revenue manager at Revenue Science, now AudienceScience; and senior account manager, financial services at Microsoft Corporation.
“We constantly challenge the retargeting capabilities currently in market to drive unparalleled results for our clients in a way that is straightforward and measurable,” said Magnetic CEO Josh Shatkin-Margolis. “We currently process over 5 billion searches per month and maintain a strong technology investment in order to exceed client expectations. We are very excited to have Jonathan and the rest of the new hires join Magnetic as we continue in our efforts to expand the use of search data to effectively retarget customers interested in our clients products and services.”
Additional staff has been added across a variety of departments including sales, marketing, engineering, delivery and operations.
For more information on Magnetic’s technology and continuing growth, please visit www.magnetic.com.
Magnetic™ makes search retargeting easy. The Magnetic data marketplace empowers advertisers and publishers to use search data as the key indicator of intent and retarget campaigns to the most relevant audience online. With more than 500 million search profiles, Magnetic significantly lifts the value of media and improves campaign performance. Magnetic’s advanced technology provides the largest payment to search data providers. It is the search data partner of choice for more than 100 leading agencies, ad networks and DSPs. Magnetic is headquartered in New York, funded by investors including Charles River Ventures, Ron Conway, NYC Investment Fund, Roger Ehrenberg of IA Capital, Founder Collective and NYC Seed. For more information visit: www.magnetic.com.
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of over 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant audiences and profitable campaigns for our clients.