SOURCE: BlueLithium

April 10, 2006 08:00 ET

BlueLithium Names Bill Lonergan Chief Financial Officer; Executive Team Poised to Extend Online Advertising Leadership Position

SAN JOSE, CA -- (MARKET WIRE) -- April 10, 2006 -- Continuing to build out its world-class executive team while rapidly capturing market share in the online ad network space, BlueLithium appointed Bill Lonergan to the newly created position of chief financial officer. A seasoned executive, Mr. Lonergan has 25 years of financial management experience helping technology companies achieve significant growth and gains in market share. He will be responsible for leading all accounting and financial activities while guiding BlueLithium towards its business and financial goals.

"Bill joins the BlueLithium team at a time of growth, expansion and achievement," said Gurbaksh Chahal, CEO of BlueLithium. "Bill's strong track record of helping late-stage startup companies manage rapid revenue growth, combined with his experience in taking successful companies public, is a perfect fit for our needs. We are fortunate to have him on board to help us build for BlueLithium's future."

Mr. Lonergan's career spans nearly three decades and includes recent experience as CFO of LookSmart®, an online media and technology company specializing in vertical search. While at LookSmart, he was instrumental in transitioning the company from a search listing directory to vertical search technology provider and reorganized the capital structure of the company.

Prior to LookSmart, he was at Tacit, an enterprise software company focused on expertise location. At Tacit, Bill was responsible for accounting and administration and helped raise significant venture capital for the company. Previously, he was a senior partner at KPMG LLP. During his tenure at the firm he was chosen as global lead partner for the Microsoft and Hewlett Packard accounts, named to the Leadership 2000 Partner group and appointed national director of the High Technology Performance Improvement Consulting Practice. He played instrumental roles in numerous IPOs and other capital transactions for high-growth public companies including Pinnacle Systems, SCM Microsystems and Micromuse. Mr. Lonergan is a C.P.A., a Chartered Accountant, and a graduate of the University of Durham, England.

"Bill's experience at a 'Big 5' accounting firm and his public company experience make him a great catch for BlueLithium," said Eric Martinuzzi, senior research analyst at Craig-Hallum. "He has an ability to quickly adapt to change and I look forward to seeing where he takes BlueLithium."

"BlueLithium's commitment to rejuvenating the online ad industry for the benefit of advertisers and Internet users, combined with a powerful executive team and board of directors, gives it a unique position in the market," said Bill Lonergan. "I look forward to helping BlueLithium continue its rapid ascent."

About BlueLithium

Based in San Jose, CA, BlueLithium challenges the legacy ways of doing business to help online marketers achieve extraordinary results. Combining a powerful one-two punch of one of the largest ad networks with superior targeting and optimization-on-the-fly technology, BlueLithium creates a unique site network for each advertiser that is customized to their marketing objectives. Reaching 100M unique users or 51% of the Web, BlueLithium delivers 6 billion impressions per month across more than 1,000 sites. For more information, please visit

Contact Information

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