Glam Media has hired Michael Adair, most recently Google’s head of North American sales finance, as their new VP Corporate Development and Finance. Prior to Google Adair was an investment banker at Lehman Brothers and he has an MBA from Harvard. He’ll be responsible for making investments and acquisitions on behalf of Glam.
Glam, a women-focused advertising network, raised a massive $85 million round of financing earlier this year – bringing their total capital raised to over $115 million. A lot of that money was reportedly taken off the table by Glam’s founders, but the company clearly has the cash and stock currency to make acquisitions.
Presumably Adair’s deep finance and banking experience will help him make those acquisitions and investments as Glam gears up to compete with Sugar Inc. and other competitors.