You’re reading it here first ... Chad and Ryan Steelberg, two of the founders of radio ad firm dMarc that Google bought last year, have left the company, paidContent.org has learned, and Google PR has officially confirmed. Chad was CEO and Ryan was president.
Full Google statement in response to our query: “We have no additional details to share at this time. Google is committed to the audio business. We will continue to gather feedback during the Audio Ads beta test and are happy with the progress to date. We remain focused on delivering value to the radio industry as we continue to expand radio station inventory and enhance the product so that it’s ready for all advertisers.”
Staci adds: Some background: Google agreed to buy dMarc Broadcasting for $102 million cash consideration back in January 2006 with earn-out targets that—if met—would be worth up to $1.136 billion. dMarc Broadcasting was formed in in 2004 when software developer Scott Studios and dMarc Networks were combined. The brothers are serial entrepreneurs, who founded AdForce and sold it for $500 million in stock and Broadband Digital Group before forming dMarc Broadcasting and selling it to Google.
—While we’ve confirmed that they’re left the company, the status of the financial arrangement—and whether or not the first year’s targets were met—is unclear.
Related:
—Google’s Deal With CBS Radio Still Likely; TV Deal Unlikely
—Google-dMarc: React To Radio Ad Buy Is All Over The Dial
—Google Acquires dMarc Radio Ad Firm For $102 Million; AdWords Comes To Radio