Industry Moves: AdMeld Taps Former FIM Exec Barrett As CEO, Secures New Funding

imageOnline ad optimizer AdMeld has named former *Fox Interactive Media* and *AOL* exec Michael Barrett to the new post of CEO. Barrett left FIM (NYSE: NWS) amid an executive shake-up last April. Barrett joined FIM as EVP and chief revenue officer in 2006. Before FIM, Barrett was EVP for sales and partnerships at *AOL* Media Networks.
In addition to picking a new CEO, the NYC-based company has completed its $7 million first round. The round was led by Spark Capital and the Foundry Group. AdMeld secured $5 million for the round in June and has otherwise been in stealth mode since then. AdMeld was co-founded by Ben Barokas, a former *JumpTV* and *AOL* exec. Barokas and CTO Brian Adams had been leading the company to this point; Barrett is AdMeld’s first CEO. Ad-optimization providers like AdMeld have been hoping to use the economic downturn to increase their appeal to publishers by promising better inventory management.