WideOrbit Receives New Funding from Khosla Ventures, Greycroft Partners and Hearst...

WideOrbit Receives New Funding from Khosla Ventures, Greycroft Partners and Hearst Corporation

Company Adds New Executives--Chief Marketing Officer Steve Sommer
and Senior Vice President of Engineering Igor Tsyganskiy
SAN FRANCISCO--(Business Wire)--
WideOrbit Inc. continues its aggressive growth path by securing
funding from three of the most pre-eminent venture capital
firms--Khosla Ventures, Greycroft Partners and Hearst Ventures, the
venture arm of the Hearst Corporation, one of the largest media
companies in the world. In addition, WideOrbit announced that two high
profile industry veterans have joined the company. Steve Sommer joins
as Chief Marketing Officer, where he is responsible for driving
overall product strategy, product roadmaps, and worldwide marketing
efforts. Igor Tsyganskiy joins as Senior Vice President of
Engineering. Igor is working to accelerate the development of new
WideOrbit products, the company's entrance into new markets and its
international expansion.

WideOrbit drives the business of Advertising by providing Sales,
Traffic and Billing software solutions for the global media industry.
WideOrbit's core software product, WO Traffic, manages more than $10
billion dollars in advertising revenue and is currently implemented by
more than 900 television stations, radio stations, and cable networks,
as well as managing advertising for movie theaters, mobile devices,
and digital display networks.

Located on opposite coasts, Khosla Ventures and Greycroft are two
of the most sought after venture capital firms. Khosla Ventures was
formed in 2004 by Vinod Khosla, who was formerly a General Partner at
Kleiner Perkins and Founder of Sun Microsystems. Khosla has been
labeled the #1 VC by Forbes. Founded in 2001, Greycroft was created by
Alan Patricof, Founder of Apax Partners, Worldwide, LP, one of the
world's leading private equity firms. Greycroft Partners is a venture
capital partnership formed to invest in promising digital media
companies, including both business- and consumer-focused ventures.

"WideOrbit has created one of the most unique and defensible
businesses in advertising. As online and offline advertising
converges, we expect WideOrbit's preeminent position to create
tremendous value for their clients and investors," stated David Weiden
of Khosla Ventures and member of WideOrbit's Board of Directors.

"WideOrbit has already established a leadership position in the
advertising traffic management market, and is developing exciting new
applications that will have a definitive impact on the media
industry," said Dana Settle of Greycroft Partners.

Hearst Ventures, one of WideOrbit's existing investors, has also
provided additional funding as part of this investment round.

"It's a great compliment to receive funding from three such highly
regarded investors. This additional funding will support our efforts
to aggressively develop new software solutions to benefit our
customers and allow us to continue to expand both domestically and in
international markets," stated Eric Mathewson, Founder and CEO of
WideOrbit.

New Executives

With a background predominantly in enterprise software, Steve
Sommer brings more than 25 years of experience in marketing and
business development to the WideOrbit team. He comes to WideOrbit most
recently from SuccessFactors, Inc., a leading provider of on-demand
performance and talent management applications, where he was Vice
President of Global Marketing.

Prior to SuccessFactors, Steve was SVP Marketing & Business
Development at ArcSight, a provider of enterprise security management
software, and SVP Marketing & Business Development for Portal
Software, a provider of customer management and billing software for
the Internet and telecom industries. Sommer was also the vice
president of worldwide marketing for Informix, the enterprise database
company. Steve has also worked for such prestigious companies as
Procter & Gamble, a leading consumer packaged goods company, and
McKinsey & Company, Inc, a leading management consulting firm.

Igor Tsyganskiy comes to WideOrbit from SAP where he spent more
than a decade, and most recently held the position as Head of the
Advanced Technology Group. Igor will work closely with WideOrbit's
development teams where he will apply his expertise in business
process automation and optimization, enterprise system design,
analytics and decision control systems, and Internet security and
traffic analysis. Igor will be aggressively growing WideOrbit's
product development team in order to support its rapidly expanding
customer base, ensure continued industry-leading customer
satisfaction, and deliver new products based on the company's
strategic goals. Previously, Igor was a co-founder of Tealeaf, a San
Francisco-based software company that provides visibility, insight,
and answers for companies doing business online.

About WideOrbit

WideOrbit provides advertising infrastructure that empowers media
companies anywhere in the world to improve yield management and
maximize advertising revenue. WideOrbit delivers flexible software
solutions that address the needs of a wide range of advertising
mediums today and in the future. WideOrbit simplifies and automates
the sales, traffic and billing of advertising with proven software
solutions and delivers to customers unprecedented control and
visibility into their advertising inventory across a variety of ad
mediums. WideOrbit manages the advertising sales process for
television stations, radio stations, cable networks, cable
interconnects, mobile video, movie theaters and digital display
networks. WideOrbit's client list includes: NBC, Telemundo,
Hearst-Argyle Television, Gannett, Meredith Corporation, Madison
Square Garden, Transit TV, Scripps Television Group, and
Qualcomm/MediaFlo.

WideOrbit was founded in 1999 and has offices in San Francisco,
Seattle, Denver and London, England.

OutCast PR for WideOrbit
Rachel Petersen, 415-392-8282
rachel@outcastpr.com

Copyright Business Wire 2008