Unity appoints Chris Feo to lead programmatic advertising growth

SAN FRANCISCO - Unity (NYSE:U), the $15.7 billion market cap gaming technology company whose stock has surged over 100% in the past six months, has appointed Chris Feo as Senior Vice President of Sales and Partnerships, Programmatic, according to a press release statement issued Tuesday.

Feo will lead growth for the company’s Audience Hub offering, which connects programmatic advertisers with gaming audiences through privacy-first identity solutions across mobile, web, and connected TV platforms. According to InvestingPro data, Unity maintains a healthy financial position with current assets exceeding short-term obligations by 2.7x, providing strong operational flexibility for its growth initiatives.

The new executive brings over 20 years of experience in the digital ecosystem space, having previously served as an early executive at Tapad where he helped pioneer cross-device identity solutions. He later led global sales and partnerships at Experian.

"Gaming is one of the fastest-growing opportunities in programmatic advertising, and I believe Unity is uniquely positioned to partner with the largest brands, agencies, and platforms across the globe," Feo said in the statement.

Unity launched its Audience Hub in June, combining insights from the company’s ads ecosystem with third-party data providers like Experian and Roku. According to the company, beta campaigns using Audience Hub delivered a 103.6% lift in engagement rates.

Alex Blum, COO at Unity, said Feo’s experience makes him "the perfect leader to scale Unity’s programmatic business globally."

The Audience Hub is currently available to marketers in the U.S. and Canada, with international expansion planned for later this year. While Unity is not currently profitable, InvestingPro analysis indicates analysts expect the company to achieve profitability this year, with 5 analysts recently revising their earnings expectations upward. For deeper insights into Unity’s financial outlook and 10+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Unity Software has formed a Unity AI Council to accelerate innovation by collaborating with AI experts and its product leadership. The first members appointed to this council are Jia Li, Co-Founder, President and Chief AI Officer of LiveX AI, and Julian Togelius, Associate Professor at NYU and Co-Founder of modl.ai. Meanwhile, Unity Software’s stock price target was increased to $29 by Wells Fargo, while the firm maintained an Equal Weight rating. Wells Fargo cited Unity’s second-quarter revenue guidance of $440-450 million, which aligns with the consensus estimate but is slightly below buy-side expectations. Additionally, Oppenheimer has maintained a Perform rating on Unity Software, highlighting mixed results from the company’s Vector platform, which showed a 15% quarter-over-quarter growth in revenue from its Ad Network. In a separate development, Meta Platforms announced it would replace Unity with its own runtime engine for app development. This decision was revealed during Meta’s Connect event, where they also introduced new smart glasses.

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