San Francisco based search and online advertising platform Marin Software has announced a change of leadership. The company’s founder and CEO since inception Chris Lien will step down, and will be replaced by David A. Yovanno. Lien will continue to be involved with the company’s strategy and direction in a new role as executive chairman.
The news was announced on the back of Marin’s financial performance in Q1, 2014, where the company posted record first quarter revenues of $22.8 million, up 33% from last year.
“Marin’s record results for the first quarter demonstrate our tremendous market opportunity and momentum, now is the right time to bring in Dave, who has more than 20 years of operating experience and strong digital marketing expertise. said outgoing CEO Lien. “I am confident Dave will build on Marin’s success to drive the company to even greater levels of achievement.”
Most recently, Yovanno was the executive vice president of technology solutions at online marketing company Conversant. He also served on the board of the Interactive Advertising Bureau and was the CEO of the social marketing platform Gigya from 2008 to 2011.
“Chris and the Marin team have defined and led the Revenue Acquisition Management space, which I believe is a rapidly growing opportunity in the multi-billion dollar digital advertising market,” said Yovanno. “I am excited to leverage my executive, operational, and digital marketing experience to expand the company’s leadership position.”
Marin went public in 2013 and since then, its customers have spent $6 billion on online advertising via the Marin platform. From the announcement, it’s clear that Yovanno’s being brought in to drive exponential growth for the company, as it looks to scale even more.