StepLeader, an emerging company focused on mobile advertising, news and other technology solutions and products, has been spun off from Capitol Broadcasting’s CBC New Media Group as an independent venture.
StepLeader took on a new name and new leadership in March.
“StepLeader is now a separate company with it’s own board of directors and shareholders,” Jimmy Goodmon, vice president and general manager of CBC New Media, told WRAL Tech Wire.
The decision means that StepLeader can seek additional outside investors for more capital, Goodmon added.
“While StepLeader is self-reliant, we believe that a tremendous opportunity exists in the market so StepLeader is likely to seek additional funding from outside investors in order to capitalize on the opportunity,” he explained.
The company was formerly known as NewsOverWireless.
CBC New Media is part of Capitol Broadcasting, which operates WRAL.com, and is the parent company of WRAL Tech Wire.
“A spin-off is the right move strategically for our company,” said Brian Handly, who was named CEO on StepLadder in March.
“We have a reputation for being first to the broadcast market in many categories and it’s our goal to continue with this innovative focus,” he added. “We see tremendous potential in the mobile and Smart TV markets and want to be well-positionedstructurally and from a product development standpoint to support the growing needs of our partners in these rapidly changing areas.”
Handly said there are no outside investors yet in StepLeader and the company is not seeking funding at the moment. However, a fund raiser is likely later this year or in early 2013.
The company currently has 24 employees and has five openings, primarily in engineering and sales.
Handly, Goodmon and Sam Matheny, who led NewsOverWireless from its founding until Handly’s hiring, form the board.
StepLeader works with clients to develop and deploy various applications as well as means to deliver mobile news and advertising.
“I am very excited about the direction StepLeader is taking and how this positions the company for even greater success in the future,” Goodmon said in a statement. “The team is strong, the platform is solid, and as a free standing company, StepLeader will have the focus and investment to build the next generation of digital content distribution with a real focus on driving revenue for our partners.”
StepLeader also announced that it had secured four new projects and work from two existing broadcasting customers in the first quarter.
The number of users across Apple iOS and Android devices also grew unique visitors by 49 percent and a 51 percent increase in video on demand views.
“Our goal is to have the flexibility and nimbleness to push innovative digital media products and solutions to market more rapidly,” said Matheny, who now is vice president, Policy & Innovation, at Capitol Broadcasting. He also is Mobile Evangelist for StepLeader. “We look forward to continuing this level of momentum throughout 2012 and growing our partner base by remaining at the forefront of digital solutions while continuing to provide exceptional support for our existing partners.”
Since launch in 2005, StepLeader has developed some 107 apps and delivers more than 200 million ads per month. It has more than 300 partners.
