As we reported the other day, Andy Ellenthal is leaving his post as CEO of national newspaper online ad alliance quadrantONE to take on the chief executive job at mantic ad specialist Peer39. He will take the place of Peer39 founder Amiad Solomon, who will become president of the New York-based company. In that role, Solomon will concentrate his efforts on business development, product innovation and strategic initiatives.
In essence, “semantic advertising” is just another way of saying that Peer39 serves contextual ads across its network. Peer39 has been around for a little over three years and has raised three rounds of funding, most recently a $10.5 million round in May ’09. Since opening its doors, Peer39 has raised a total of $21.7 million from backers such as Canaan Partners, Dawntreader Ventures, Silicon Valley Bank, JP Morgan and former Shopping.com CEO Dan Ciporin, who was an early investor in the company.
In July ’08, Ellenthal was hired as quadrantONE’s CEO from his role as SVP at Visible World, a tech company specializing in managing TV ads. An early DoubleClick exec, Ellenthal was an SVP at PointRoll before it was bought by Gannett (NYSE: GCI).
A replacement for Ellenthal at quadrantONE is said to waiting in the wings, but the company declined to comment on who would be stepping into the CEO role. Release
Update: On Friday afternoon, I spoke with Ellenthal, who had been traveling back and forth to the west and east coast this week, about his impending departure from quadrantONE and arrival at Peer39. He spoke about the opportunity to have an impact on industry with Peer39 and what he believes is the unique proposition semantic advertising. “I

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