xAd Expands Executive Team

| 05/09/2011

San Francisco — Mobile-local ad network xAd announced two new hires, as the company expands its executive team. Babak Dehnad joins as Vice President of Global Human Resources, while Steve McCarthy is the firm’s new Chief Financial Officer.

McCarthy joins xAd from Private Equity, where he oversaw finance, accounting and operations for all fund-portfolio companies. He previously worked at MySQL, Vitria Technology, Exodus Communications and Centura Software. McCarthy will be responsible for all aspects of finance and accounting at xAd.

Dehnad has worked with several tech start-ups and has held senior HR positions at Phoenix Technologies, MySQL, Taleo, Zambeel and QRS Corporation. At xAd, Dehnad will be responsible for expanding the team globally and developing the existing workforce.

“I’m very excited about joining such a talented team with such an amazing opportunity,” says McCarthy. “I look forward to being a part of a sector with such impressive growth and to joining a team that has a solid track record of exceeding plan-to-market results.”

The company also announced that it has doubled the number of ads served in the last four months, having recently served two billion ads.

“We’ve seen impressive growth since our launch, and it’s exciting to watch the demand for mobile-local advertising skyrocket, which will be a key part of the market growth,” says xAd CEO Dipanshu Sharma. “2011 seems to be the year of mobile advertising, and xAd is establishing itself as a leader of this rapidly expanding local-market segment.”