Newly launched ad network RadiumOne is announcing a new hire today—Bill Lonergan. Lonergan joins RadiumOne from Offerpal, rival to RadiumOne’s offers platform gWallet, where he was chief financial officer.
Prior to Offerpal, Lonergan was CFO of online ad network Blue Lithium, which was launched by RadiumOne’s founder Gurbaksh Chahal and later sold to Yahoo for $300 million in 2007. Lonergan joins other former Blue Lithium execs Kamal Kaur, Mike Werner and Eugene Kislyi as part of the RadiumOne team.
At RadiumOne, Longeran will lead all aspects of RadiumOne’s financial, administrative and corporate development activities. We hear that the hiring of Longeran is also related to RadiumOne raising a major funding round in the next few months. We hear the round is in the $50 million range on a $250 million valuation.
RadiumOne aims to combine social and intent data to serve ads. The platform mines social data and use this information to identify relevant consumers for brands. Through what Chahal calls “social retargeting,” RadiumOne analyzes how users interact with one another on social networks to find the consumers that identify with a brand’s current customer base, and then serves advertisements to this audience. RadiumOne is also the parent corporation to offers platform gWallet.
RadiumOne gets this data directly from social networks (although not from Facebook), which sell anonymous user behavior data to advertisers, its own gWallet offer platform, blogging platforms, microblogging platforms (i.e. Twitter), URL shorteners, photosharing websites and other applications.