RealTime IT News

Adauction.com Names New Chairman, Wins Financing

San Francisco-based Adauction.com named former Ziff-Davis president J. Scott Briggs as chairman and Ronald C. Conway and Chris Redlitz as members of its board of directors.

The company also said it recently closed a Series B round of financing that has helped yield over $2 million in venture capital/private funding to date.

The company said it now employs 20 staffers and projects having over 80 employees by the end of 1998. Adauction.com's near-term plans include opening sales offices in New York, Chicago and Los Angeles.

"Having respected industry leaders like Scott, Ron and Chris on our board allows us to achieve the next level of success," said David Wamsley, Adauction.com president and CEO. "Our mission is to become one of the premier online ad sales channels that delivers optimal results for Web publishers and media buyers."

The company offers an automated, Web-based media buying solution for remnant banner space.

As the former president and 22-year veteran of Ziff-Davis Publishing, Briggs played a significant role in creating a global media giant, including serving as the first publisher of PC Magazine and founder of PC Week. He oversaw the launch of all the company's European titles and founded ZD's Consumer Media Group in San Francisco in 1994. He retired as Ziff Davis' president in 1997 and continues to serve as a consultant to the company.

Conway currently heads business development at Menlo Park, California-based CBT Systems. Currently Adauction.com's vice president of Media Sales, Redlitz co-founded the company with Wamsley in September 1997.