Apple Inc. (NASDAQ:AAPL) has hired Todd Teresi, an executive from Adobe to run their iAd program which launched over a year ago. Since then, the iAd program has disappeared from the forefront of Apple’s iOS software. During its launch, iAd was included in almost all third party applications in the App Store. Bloomberg’s Adam Satariano reported that AAPL hired Teresi in order run Apple’s mobile advertising unit.
Apple has hired Adobe’s Todd Teresi to head iAd. Story coming….
Teresi worked at Adobe over the past nine months as VP of the Media Solutions division and has also held mobile positions at other prominent companies such as Quantcast, Yahoo, and PriceWaterhouseCoopers.
Apple mobile advertising firm Quattro Wireless, and transformed it into their own ad platform, hoping to make mobile ads in iOS a part of their revenue stream, however, the platform failed to gain traction due to high prices on ads and too much control over the design process.
Prior to the arrival of Teresi, the iAds platform was run by Quattro founder and CEO Andy Miller. However, Miller also left Apple in September 2011 for a Venture Capitalist position, leaving it to Eddy Cue, who also operates iTunes Store, App Store, iBookstore, and iCloud.