Omniture Names Michael Herring as CFO

Posted Nov 22, 2004
Online Industry Veteran Brings Strategic, Operational and Financial Expertise as Company Prepares For Next Phase of Growth.

OREM, Utah (November 22, 2004) Omniture, the largest provider of the most sophisticated and comprehensive technology for online analytics, today announced the appointment of Michael Herring as chief financial officer. With more than eight years of online industry experience, Herring brings a wealth of knowledge about financial planning, rapid growth and executive management of both private and public companies. He will be responsible for helping Omniture manage its industry-leading growth, building upon the company’s already strong financial position, to assist the company in reaching new levels of market success.

"Omniture’s laser-focus approach in delivering enhanced ROI for our customers has resulted in sustained growth, making the company a front runner in the expanding Web Analytics market," said Josh James, co-founder and CEO of Omniture. “Our continued traction in this highly competitive industry can be achieved through outstanding leadership, and Mike has clearly established himself as an outstanding executive in managing successful financial and customer growth. As we look to the future, Mike’s expertise will be instrumental in helping guide and manage the company’s continued success.”

Herring joins Omniture after a tenure of more than three years as CFO of MyFamily.com, where he led efforts that redefined the company’s business model and made it one of the top five subscription businesses on the Internet. Through his fiscal guidance and restructuring efforts, the company raised $15 million in private equity, turned profitable within a year, developed a highly scaleable business model, grew its subscription services more than 600 percent and realized more than 400 percent growth in sales. Herring joined MyFamily.com through the acquisition of ThirdAge Media, an Internet consulting firm targeted at the aging baby boomer population. As vice president of finance for ThirdAge Media, Herring helped grow the company from concept to execution, serving clients such as Proctor & Gamble, Johnson & Johnson, Merrill Lynch, American Century and E*TRADE, among others. Prior to ThirdAge Media, he served for four years as controller of Anergen, a public biotechnology company focused on curing autoimmune disease. Herring earned his CPA as a senior accountant in the audit department of Ernst & Young LLP and holds a bachelors degree in Economics and Political Science from the University of California at Los Angeles.

"With excellent products, consistent customer growth, a predictable and strong revenue stream, and ongoing profitability, Omniture is poised to play a leadership role in the online analytics sector,” said Herring. “This solid financial footing—supported by a remarkable enterprise-customer retention rate—proves the strength and maturity of Omniture’s business model and supports our philosophy that online analytics is a must-have for the success of any online enterprise. I am excited to join the team at this time, and look forward to successfully guiding the company through the challenges and opportunities that will result from our growing momentum."

About Omniture
Omniture, Inc., headquartered in Orem, Utah, is the pioneer of next-generation online analytics technology that delivers the essential intelligence needed by Web commerce leaders and innovators to drive the business decisions that increase ROI. Omniture's SiteCatalyst is the most mature and comprehensive technology for Web analytics, offering unprecedented scalability and flexibility combined with an intuitive user interface. Omniture is the only company in its market to offer a comprehensive view of activity on a company's Web site, including historical (data warehouse) and real-time analysis and reporting. In addition, Omniture offers smart professional service teams, experienced in helping customers determine the questions they must ask in order to arrive at the answers they require. Proof of its world-class technology and outstanding team, Omniture has the highest level of retained and satisfied customers in the market, including eBay, AOL, Wal-Mart, Gannett, Microsoft, Oracle, Intel, Overstock.com, GM and HP. For more information about Omniture and SiteCatalyst, please visit www.omniture.com.


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