Mimvi Acquires Mobile/Video/Internet Advertising Company
with Significant Customer Base and Revenues, Adaptive Media
Veteran Digital Media Executive, Qayed Shareef, to head newly-combined
company as its CEO
Mimvi Founder, Kasian Franks, and CEO, Michael Poutre, step down from
management team and Board of Directors
SUNNYVALE, Calif., July 2, 2013 /PRNewswire/ -- Mimvi, Inc. (OTCQB: MIMV), a leading search
and recommendation technology company, today announced the acquisition of Adaptive Media, Inc.
Mimvi also announced the appointment of Adaptive Media’s Founder and CEO, Qayed Shareef, as the
Company’s new CEO, as well as the resignation of Mimvi Founder & CVO, Kasian Franks, and CEO,
Michael Poutre, from its management team and Board of Directors. Mr. Shareef will join Mimvi’s
CFO, Kevin Conner, on the Board.
Based in Mission Viejo, California, Adaptive Media is an audience and content monetization company
working with website owners, app developers and video content publishers to better optimize the
serving of content and ads together. The company serves as the foundation for content developers
looking to engage brand advertisers through integrated, engaging and impactful ads across its content
on multiple devices. According to Mr. Shareef, Adaptive Media’s monthly reach across its clients’ sites
is in the tens of millions of unique users. The Company’s financial details are still subject to an audit.
“The combination of Mimvi’s recommendation technology plus Adaptive’s multi-channel, audienceside platform creates a distinctive technology company that addresses the evolving needs of app and
content developers in a complicated ad-tech ecosystem,” said Shareef. “Adaptive Media’s revenues are
growing quickly and we are very well positioned to be a major player in the booming mobile, video and
display advertising space as a supply side platform and services provider. This deal now gives us a
world-class optimization and recommendation technology stack through Mimvi, along with access to
the public markets for growth capital, future acquisitions and value-creation for Mimvi shareholders.”
Mr. Shareef brings over 12 years of online technology and operations experience to Mimvi. Prior to
launching Adaptive Media, he held management positions at Traffic Marketplace, Premier Group,
CheetahMail, LowerMyBills.com (acquired by Experian), and Drapers.com. He has also served as a
strategic advisor to several start-ups in the mobile and online space, helping with successful launches,
pivots and exits.
Outgoing CEO Michael Poutre commented, “This is a phenomenal opportunity for Mimvi and its
shareholders. I’ve enjoyed my role as CEO and I’m very pleased to turn the Company over to a leader
with serious media-tech industry chops.
