Success is well and good, but setbacks often define an industry leader, says David J. Moore, Chairman of Xaxis and President of WPP Digital, in this interview with Beet.TV. Take 24/7 Media, an ad tech company he founded that has become emblematic of the ups and downs of the ad business.
"The greatest setback that I had is the rise and fall and rise again of 24/7," he says. He started the company in 1997 and took it public a year later with much fanfare and success, boasting a $69 stock price, a $1.8 billion market cap, and a $400 million run rate. But shortly after that the NASDAQ peaked and from that day forward the stock price fell nearly every day, reaching a low of $.15 in 2001.
However, he was able to rebuild the company with new partners, and grew it over two years of rejiggering to the point where he could sell it in 2007 to WPP, where it has become an essential part of the agency's business. "What was my greatest setback became my greatest accomplishment in this industry," he says.
The tumultuous times with that company are part and parcel of being an entrepreneur, and that is how Moore sees himself, he tells us. From stints at Turner Broadcasting and Viacom, to working in medical TV and interactive video, he has gravitated to media jobs that enable him to start new ventures.
Now at WPP, much of his focus is on the rising programmatic business. He also is devoted to driving standards in the ad business. Earlier this year he took on a role as chair of the IAB Tech Lab, where his job is to help with standards and promote interoperability in ad technology.
Moore was interviewed by Beet.TV as part of the Media Revolutionaries series presented by Microsoft and Xaxis. Please visit this page to view more from the series.
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