ScanScout CEO Doug McFarland has stepped down from the company, effective Dec. 31, 2007. He remains on its board of directors. Founder Waikit Lau has stepped in as interim CEO while ScanScout looks for a replacement. McFarland, who had joined the company Jan. 1, 2007 (making his taxes rather simple, I suppose), did not give much detail on the switch in a statement emailed by company PR, except to say that ScanScout had “made great progress” since he came on board. We at NewTeeVee are a bit fuzzy as to why he left after just 12 months on the job. If you have any theories or information, please leave a comment or send us your tip.
ScanScout, which has offices in New York and Boston, operates in the crowded but nascent contextual video ad targeting space, alongside competitors such as Digitalsmiths and Adap.tv. More general online video ad networks include VideoEgg, YuMe, Tremor Media and Broadband Enterprises.
ScanScout had raised $2.3 million in angel funding from Ron Conway and First Round Capital, a $7 million Series A round led by General Catalyst Partners, and added a strategic investment of an unnamed amount from Time Warner.