Digital Media Industry Executive Dimo Velev Appointed Regional Director DACH, OpenX GmbH, to Extend Reach of OpenX’s Digital Monetization Platform in Europe From New Munich Office
MUNICH – OpenX Technologies, Inc. (OpenX), one of the world’s leading providers of digital and mobile advertising technology, announced the opening of its first office in Germany as part of the Company’s continuing international expansion. Across the German-speaking markets, the new Munich office will provide support for publishers to maximize revenue and help advertisers reach their audiences at scale. OpenX also announced the appointment of digital media industry executive Dimo Velev to the newly-created position of Regional Director DACH, OpenX GmbH. Velev will lead the efforts to increase awareness and adoption of OpenX, with a focus on strategic partnerships, marketing, sales and general operations within the region.
“The DACH market is one of the strongest contributors to ad spending growth in Europe and we’re excited to bring OpenX’s technology to the region”
The OpenX monetization platform combines a massive Real-Time Bidding (RTB) digital marketplace for the trading of advertising space and breakthrough ad serving technology on a global scale. OpenX Ad Exchange is the Company’s online marketplace in which publishers and advertisers buy and sell this available ad inventory in real-time. With the launch of its exchange in May 2009, OpenX became a pioneer of RTB. The OpenX marketplace includes Supply Side Platform technology, which further maximizes the yield for online publishers. The OpenX Ad Server is Software as a Service technology that stores the finalized digital banner and video advertisements, which are displayed in available advertising spaces when a user opens a website page. Earlier this year, OpenX introduced its new Revenue Intelligence product that provides digital media companies with a groundbreaking approach to revenue management, combining content valuation and ad monetization.
In his new role, Velev will be responsible for ramping up OpenX Ad Exchange in Germany with inventory supplied by German publishers and demand for that inventory from German buyers. Velev’s priorities also include bringing OpenX Ad Server to enterprise publishers in Germany, introducing the concept of Revenue Intelligence and building an OpenX team dedicated to serving the DACH market. He joins OpenX with significant leadership experience in the digital and mobile advertising sectors. Previously, Velev served as Head of Business Development, Central & Eastern Europe for InMobi and as Manager, Business Development for Yahoo! in Germany. His experience also includes tenure at IAC Search & Media/Ask Partner Network (APN), where he set up the distribution of APN browser plug-ins across Europe and established strategic partnerships.
“I am thrilled to join such an innovative, fast-growing company and further establish its presence in the DACH region,” said Dimo Velev, Regional Director, OpenX GmbH. “The dynamic, entrepreneurial environment of OpenX will enable me to expand the business on an international level, especially evangelizing Real-Time Bidding in Germany. I’m looking forward to building upon OpenX’s strong performance and to continuing its record of robust growth.”
The German market is home to the second largest online population in Europe – after Russia – and it is still growing. A recent report by comScore revealed that 57.4 million people in Germany access the Internet via a personal computer or laptop, spending more than 24 hours per visitor online during a month.1 According to a current study by eMarketer, Germany is also the second-place spender in Western Europe, following the UK market with $5.65 billion in digital ad spending this year, which represents a 12 percent growth rate compared with 2012.2 It thus represents an important market for OpenX.
“The DACH market is one of the strongest contributors to ad spending growth in Europe and we’re excited to bring OpenX’s technology to the region,” said Jason Fairchild, Chief Revenue Officer, OpenX. “We’re also extremely pleased to have Dimo lead our DACH efforts given his deep experience in business development and knowledge of the digital and advertising sector. Dimo’s appointment, the opening of our Munich office and the establishment of a German team are each significant steps in furthering our mission to unleash the full economic potential of digital media businesses worldwide.”
In 2012, OpenX generated more than $154 million in revenue. This growth has attracted major global investors including SAP Ventures, Samsung Venture Investment Corporation, Dentsu Inc. digital subsidiary cyber communications, inc., Accel Partners and Index Ventures. In 2011, SAP Ventures, which is funded by SAP AG (NYSE: SAP), the market leader in enterprise application software, led a $20 million Series D funding round.
“Display advertising increasingly is an important part of the enterprise ecosystem and OpenX has clearly established a leadership role within it,” said Nino Marakovic, Chief Executive Officer and Managing Director, SAP Ventures. “The basis for our initial investment was to provide OpenX with an enhanced ability to develop its Real-Time Bidding platform and the Company’s excellent progress over the last fourteen months has validated that investment. Companies with the right expansion strategies and timing have the greatest impact – OpenX’s expansion into Germany, SAP’s global base, is an exciting development.”
This latest expansion follows the opening of OpenX’s Japanese office in Tokyo in September 2012 and brings the number of OpenX offices to five, including Los Angeles, New York and London.
About OpenX
OpenX is a global leader in digital and mobile advertising technology. OpenX’s vision is to unleash the full economic potential of digital media companies. OpenX solutions provide a unique Software as a Service platform by combining ad serving, an ad exchange, which includes Supply Side Platform technology, and content valuation.
OpenX Technologies, Inc., a wholly owned subsidiary of OpenX Software Ltd., is based in Los Angeles and is backed by leading investors including Accel Partners, Index Ventures, SAP Ventures, and Samsung Venture Investment Corporation.
For more information, please visit www.openx.com.
OpenX is a trademark of OpenX Limited.
1 2013 Future in Focus – “Digitales Deutschland”, comScore, March 2013 http://www.comscore.com/Insights/Presentations_and_Whitepapers/2013/2013_Future_in_Focus_Digitales_Deutschland
2 Digital Growth Remains Robust in Western Europe, eMarketer, June 2013 http://www.emarketer.com/Article/Digital-Growth-Remains-Robust-Western-Europe/1009975
