AllAdvantage.com Adds Seasoned Financing Executive Mike Depatie as CFO
Blue-chip management team at helm of new advertising standard-setter of the Internet
In six months, AllAdvantage.com goes from start-up to "The Next Big
Thing"
Hayward, California October 27, 1999 AllAdvantage.com, often called the
fastest-growing community on the Internet, today appointed Michael Depatie as Chief
Financial Officer.
Depatie, an experienced financing executive and entrepreneur, has raised over $850 million
in public offerings as CFO of Sunterra (NYSE: OWN) and La Quinta (NYSE: MT). As
AllAdvantage.com completes its transition to Internet advertising standard-setter, Depatie
will help provide the financial resources to match and support the company's continued
meteoric growth in sales, revenue and membership.
"We needed a billion-dollar-experienced CFO," said Jim Jorgensen, CEO and
co-founder of AllAdvantage.com. "We represent nearly 3 million members and we
delivered 3 billion impressions in October alone. With this volume of ads, and with more
than 200 employees in 6 offices, Michael Depatie brings exactly the skills we need to
manage our fast jump from Little League to the Pros."
Mr. Depatie has raised more than $360 million of equity and $1.8 billion of debt in his
career as a senior financial officer.
"AllAdvantage.com is a unique phenomenon," said Thomas Unterman, CFO and EVP of
the Times Mirror Company, and a member of the Board of Directors of AllAdvantage.com.
"The Internet delivers lots of great ideas. But the speed at which AllAdvantage.com
has turned a great idea into reality and delivered such a revolutionary asset to the
advertising community is unprecedented. In six months, AllAdvantage.com went from a start
up to 'The Next Big Thing.'"
The company that is becoming the world's most trusted "infomediary" has
succeeded in attracting elite talent to match its phenomenal explosion of growth. In the
past two months AllAdvantage.com has added strength and expertise to its senior management
team with former CNN Interactive Senior VP David Beckman-Robertson (VP of Sales); former
NBC Senior VP Phil Sweenie (Head of Chicago office); and online privacy advocate Ray
Everett-Church (Chief Privacy Officer).
Depatie joins AllAdvantage.com just a few weeks after the company raised an additional $31
million in equity financing and reinforced its Board of Directors with new members that
include Thomas Unterman of the Times Mirror Company and Internet advertising expert Rich
LeFurgy, co-founder and chairman of the Internet Advertising Bureau.
About AllAdvantage.com
AllAdvantage.com is changing how Internet users and companies interact, by leveraging the
information, privacy and buying power of its fast-growing online community into an array
of member and advertiser benefits. Services are delivered to the online community free of
charge through AllAdvantage.com's proprietary Viewbar communications device. The
Hayward, Calif.-based-company, with offices in New York, Chicago, Atlanta, Boston and
London, was founded in February 1999 and is privately held. For more information, visit
www.alladvantage.com