InMobi gets new CFO to architect inorganic expansion plans from San FranciscoHarshith Mallya
InMobi, the popular global mobile advertising platform, on Wednesday, announced the appointment of Marc Steifman as the company’s new Chief Financial Officer. Marc has over two decades of experience working in investment banking focused on growth companies.
At his last stint, he had served as Managing Director and Co-Head of Piper Jaffray’s Technology Investment Banking Group. His transaction experience includes advising on M&A, IPOs and raising private capital across the US, Europe, and Asia.
Before Piper Jaffray, Steifman was Managing Director at Jefferies and Co. and Bear Stearns, and Vice President at Prudential Securities. Marc graduated with an AB in Economics from Dartmouth College, and received an MBA in Accounting and Finance from the University of Chicago Booth School of Business. InMobi noted that in the past, he has advised more than 100 clients in transactions totaling over $25 billion.
Naveen Tewari, Founder and CEO at InMobi, said
We have found a partner in Marc. His appointment comes at a critical time when, as an organisation, all of us are expending a significant amount of our energies on inorganic growth; to explore and foray into newer dimensions of our business. The depth and breadth of his expertise will bring in the financial efficacy that InMobi currently needs, while we continue to scale up at exceptional speed.
Less than a week ago, InMobi had recently announced the acquisition of California-based AerServ for $90 million, to better capture premium mobile programmatic market. This was close on the heels of InMobi announcing, in April 2017, that it was EBITDA profitable for the year ending December 2016, and expectation to continue being profitable in 2017.
InMobi believes that Marc’s appointment as the new CFO reinforces InMobi’s recent exponential growth and is reflective of the company’s profitability propelled by a 10-year foundation that has underpinned that growth. Marc Steifman, CFO at InMobi said,
Finance and business growth have a symbiotic relationship, and I’m thrilled to architect the current inorganic expansion plans that are underway here. The finance pillar is integral to any organisation’s success, but when global boundaries don’t exist, the continually changing set of circumstances make financial decisions imperative to setting a global corporate strategy.
Marc joins the executive leadership team and will report to InMobi’s Founder and CEO, Naveen Tewari. He will be based out of the San Francisco office.