- Prasanna Prasad, Former CTO and Head of Data Sciences at InMobi, Appointed as CTO of Verve Group
- Brings Strong Expertise to Leverage First-Party Data Via In-House AI-Routines to Unlock Hidden Revenue and Cost Opportunities
- Demonstrated Experience in Leading Large Teams of Over 300 Engineers and Technologists Across Multiple Continents to Build Advertising Platforms at Scale
June 07, 2023 – Media and Games Invest SE (“MGI” or the “Company”, ISIN: SE0018538068; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) is pleased to announce the appointment of Prasanna Prasad as Chief Technical Officer (CTO) of its advertising software platform, Verve Group.
Building large-scale platforms and shaping winning technology-led businesses
With nearly 20 years of relevant engineering and technology experience, Prasanna will be responsible for shaping the strategy for Verve Group’s portfolio of technology services. Throughout his career, Prasanna has been recognized for his efforts in building large-scale platforms and shaping winning technology-led business strategies.
Prior to joining Verve Group, Prasanna served as Chief Technology Officer and Head of Data Sciences at InMobi, where he led a team of over 300 engineers and technologists across North America, the U.K. and India. While at InMobi, he spearheaded the technology strategy for InMobi’s Advertising Cloud and platforms, growing the InMobi SSP and DSP into fully fledged business units.
Experienced in driving technological innovation within ad tech industry.
“We are delighted to welcome Prasanna as the new Chief Technical Officer of our Ad-Software-Platform Verve Group. With his extensive experience and proven expertise in driving technological innovation within the ad tech industry, Prasanna’s appointment represents an important leap forward in the further evolution of our company,” said Remco Westermann (CEO of MGI). “Prasanna’s strategic vision and proven leadership will create an added value to Verve Group, helping to unlock new opportunities and further strengthen our market position by providing further innovative solutions that meet the evolving needs of our customers. Additionally, Prasanna is experienced in scaling platforms, which is important in relation to our further growth. We are happy that our company’s proven strategy and consistent growth rates help us to attract a talent such as Prasanna.”
Building stakeholder value
Prasanna has also served as Senior Director, Engineering for Tribune Digital Ventures (acquired by Gracenote) in Bangalore. Prior to that, he has held engineering and software roles for Amazon, Flipkart, and Yahoo!
“Verve Group has positively stood out for how it has built out its core advertising business in a relatively short span of time, competing across the global spectrum and portfolio of digital advertising products,” said Prasanna. “Building atop some of these foundational investments over the past few years and deriving multiplicative synergy and customer value from the building blocks through differentiating AI and technology solutions will be the largest opportunity area for the Group over the next few quarters.”
Prasanna noted that he sees such large independent players as Verve Group taking the lead in defining the advertising technology sector’s new world of standards that address the duality of advertiser needs and user data sensitivities in a compliant, transparent, efficient, and interoperable manner.
Delivering clear visibility into returns on marketing spendings as well as fully consented data assets
“Advertising landscapes are currently at interesting crossroads, with marketers on one hand expecting deeper and clearer visibility into returns on their spends while users and publishers are getting more conscious and selective around how their data assets are collected, leveraged and shared,” Prasanna explained. “Leading Verve’s product and GTM strategy with differentiating technology built on core and fully consented data assets is imperative to long term sustenance in this highly dynamic market. Now more than ever, the playing field is leveling out with such companies as Verve Group being able to do this effectively through machine-optimized technology and collaborative and open standards.”
The information in this release has been made public through the agency of the responsible persons at MGI set out below for publication at the time stated by MGI’s news distributor EQS Newswire at the publication of this release. The responsible persons below may be contacted for further information.
For further information, please contact:
Head of Investor Relations
+49 170 376 9571
Jenny Rosberg, ROPA, IR contact Stockholm
Axel Mühlhaus / Dr. Sönke Knop, edicto GmbH, IR contact Frankfurt
+49 69 9055 05 51
About MGI – Media and Games Invest SE
MGI – Media and Games Invest SE (MGI) operates a fast-growing, profitable ad-software platform that matches global advertiser demand with publisher ad-supply while improving results through first party data from own games. MGI’s main operational presence is in North America and Europe. Through investments in organic growth and innovation, as well as targeted M&A, MGI has built a one-stop shop for programmatic advertising, enabling companies to buy and sell ad space across all digital devices (mobile apps, web, connected TV and digital out of home), with the mission to make advertising better. MGI is registered as Societas Europaea in Sweden (registration number 517100-0143) and its shares are listed on Nasdaq First North Premier Growth Market in Stockholm and in the Scale segment of the Frankfurt Stock Exchange. The Company has two secured bonds that are listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market. The Company’s certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; firstname.lastname@example.org.