VideoAmp, one of the companies aiming to provide the TV industry with an alternative to Nielsen, said it reorganized the company, giving CTO Tony Fagan additional responsibilities and resulting in about 10 staffers being laid off.
VideoAmp said the layoff accounted for about 2% of the company’s workforce, and said the move was made in order to stay ahead of shifts in technology and market trends.
Fagan joined VideoAmp last year from Google, where he was VP of ads data science and engineering. He was hired by VideoAmp to accelerate and innovate the company’s planning, measurement and optimization efforts.
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Under the new structure, Fagan’s responsibilities will include the oversight and evolution of VideoAmp’s Product, Engineering and Research & Development departments.
“Tony has brought great leadership and technical acumen to VideoAmp and as we continue to grow and work alongside both media buyers and sellers to create solutions that they can leverage to drive positive business outcomes, his expanded role will help us drive operational excellence” said VideoAmp founder and CEO Ross McCray. “We think this expanded role positions VideoAmp for continued growth in order to successfully complete our mission to revolutionize how media is bought, sold and valued.”
Fagan will continue to report directly to McCray.
VideoAmp raised $275 million in Series F Funding last year and said it would use the money to accelerate the use of its measurement platform as currency for buying and selling advertising. Over the last year and a half, the company more than doubled the size of its staff and is still hiring for key positions.
The company has made deals to have its data tested as potential currency by media companies including Paramount Global, TelevisaUnivision, Discovery and WarnerMedia.
“I’m thrilled to take on more responsibility at a company that is literally reinventing measurement, as it should be, in order to help clients and the industry truly capitalize on growing consumer demand for video across platforms,” Fagan said. “Having our product, engineering and R&D teams work in synchronicity will help VideoAmp with speed and scale, but will also give us the focus we need to help drive this needed industry change. The time for a new currency is now.” ■
