October 27, 2008 08:00 ET
WidgetBucks Welcomes Jeff Bergstrom as Chief Financial Officer
SEATTLE, WA--(Marketwire - October 27, 2008) - WidgetBucks, a market-leading provider
of advertising widgets that are viewed by 100 million users worldwide each
month, today announced Internet startup "exit" veteran Jeff Bergstrom as
Chief Financial Officer.
Bergstrom's 18-year financial career includes extensive involvement with
technology and Internet startups. He has managed multi-billion-dollar
acquisitions and mergers, facilitated private equity transactions, and
navigated business finances during tough macro-economic times. In all,
Bergstrom has built and sold three tech and Internet companies resulting in
over $2.2B in shareholder value.
While with Internet company Go2Net from 1997-2001, Bergstrom helped the
company grow to over $110M in annual revenue and $40M in annual operating
cash flow. He was deeply involved with the purchase and integration of
nine companies in two years, and also led the financial team ultimately
responsible for the acquisition by InfoSpace for approximately $2.0B.
Most recently Bergstrom was CFO of The PowerTech Group, a security software
products firm that recently sold to a portfolio company of the Audax Group.
Prior to that, he served as senior director of finance within Areva T&D, a
French public multinational industrial conglomerate mainly known for
nuclear power generation and electricity transmission and distribution.
Bergstrom also worked at Risk Management Solutions, a Silicon Valley
company that developed and sold risk assessment software to the insurance
and reinsurance industry, which was sold to a private equity fund run by
Morgan Stanley. He also had two tours of duty with Arthur Anderson, LLP.
"I see a number of real similarities within WidgetBucks that I've seen and
experienced first-hand with successful startups," said Bergstrom.
"Certainly there are the tangibles -- stellar executive track record,
killer technology and solid backing -- but the intangibles of high energy,
focus and entrepreneurial leadership are clearly within WidgetBucks' DNA."
"Jeff brings an incredible breadth of financial experience perfectly suited
to WidgetBucks," said Matt Hulett, CEO and
Chairman of WidgetBucks. "He joins us at just the right time as
WidgetBucks embarks on its second year well positioned to reinvigorate
online advertising, even during these challenging economic times and
beyond. Having been involved with three startups that have yielded over
$2.2B in shareholder value, Jeff knows what it takes to win."
As WidgetBucks' CFO, Bergstrom is responsible for managing the company's
financial strategy and operations. He will also oversee and implement all
financial reporting, forecasting, tax functions, as well as manage the
company's cash flow operations and publisher accounts.
Bergstrom's appointment is WidgetBucks' second chief officer addition in
the last two months -- Kirby Winfield joined
as Chief Revenue Office in August 2008.
WidgetBucks is the market leading provider of advertising widgets that are
evolving the traditional online ad industry into a much richer, relevant
and engaging medium. The fastest growing ad network today, WidgetBucks is
used by thousands of publishers and brand marketers, and seen by over a 100
million unique viewers a month worldwide. WidgetBucks' privately-held
parent company, Mpire Corporation, was founded in 2005, and is backed by
Ignition Partners and Draper Fisher Jurvetson.