ValueClick executive joins start-up as CEO
SAN FRANCISCO, Oct 27 (Reuters) - Gigya Inc, whose software helps people and companies distribute widgets online, has hired a senior ValueClick Inc (VCLK.O) executive as its new chief executive officer, joining a growing pool of start-ups that are drawing people away from public companies.
David Yovanno, the former chief operating officer of ValueClick's U.S. media division, said he will focus on expanding Gigya's business by reaching new users and strengthening its sales force.
Yovanno, 37, who joined the online advertising company in 2000, said he joined Gigya because of the strength of its technology and business model.
Gigya's software lets publishers and advertisers distribute widgets -- small online applications intended for a specific purpose, such as downloading a song or buying tickets -- across the web. Widgets are especially popular on social networks like Facebook and MySpace NWSa.N.
Widgets distributed through Gigya's platform reached more than 174 million people in August, making it the largest such company, according to comScore data.
Electronic Arts Inc (ERTS.O), CNET (CBS.N) and Wal-Mart Stores Inc (WMT.N) are among the companies that use Gigya's widget distribution network.
"What Gigya's after is really being the default platform for the way content is frictionlessly shared anywhere," Yovanno said in an interview.
Although the company is currently focused on social networks, Yovanno said mobile applications are another attractive opportunity.
Gigya co-founder and former CEO Eyal Magen said Yovanno's experience in building ValueClick into a full-fledged business will come in handy. Magen is now Gigya's chief strategy officer.
Gigya has raised $23.5 million in venture capital funding so far, with backing from DAG Ventures, Mayfield Fund, First Round Capital and Benchmark Capital.
Yovanno's departure from a public company follows several similar moves.
In March, Google Inc's (GOOG.O) online sales unit chief Sheryl Sandberg left the search giant to become Facebook's COO.
Last week, Arista Networks Inc, a start-up, said Jayshree Ullal, a former Cisco Systems Inc (CSCO.O) executive, would become its CEO. (Reporting by Anupreeta Das; Editing by Andre Grenon)
