In the Why section, third sentence should read: In March, the company announced 2011 revenues...(sted In January, the company announced 2011 revenues...)

The corrected release reads:


Global Leader in Mobile Marketing and Advertising Assumes Leadership Role to Bring Mobile Marketing to the Forefront of the Industry; Velti CEO and CMO Join as Global and North American Board Members



Today, the Mobile Marketing Association announced that Alex Moukas, CEO of Velti, and Krishna Subramanian, CMO of Velti, have both been appointed to MMA’s Board of Directors. Moukas will sit on the MMA’s Global Board and Subramanian will take a place on the organization’s North America board. The goal of the MMA is to lead the growth of mobile marketing and its related technologies. The MMA is the premier global non-profit trade association, and the role of the Board of Directors is to govern the organization and to establish the direction of the industry.


Led by a strong executive team, Velti continues to shape the future of the mobile marketing and advertising industries by enabling brands, agencies, mobile operators and publishers to implement highly-targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. Velti has experienced tremendous growth and success under the leadership of Moukas, including the acquisition of Mobclix in 2010, which was co-founded by Subramanian. In March, the company announced 2011 revenues of $189.2 million—an increase of 63% over 2010. In May, the company announced Q1 2012 revenues at $51.8 million, which exceeded guidance and represented a 75% increase in revenue over Q1 2011.


Velti’s CMO Krishna Subramanian (based in San Francisco) is available for interviews.
Approved Quotes:
"How brands are approaching marketing today will be drastically different in as little as 6 months. Mobile marketing makes the promise of reaching the right person, in the right place at the right time, a real possibility for the first time," said Alex Moukas, CEO, Velti. "As an industry, we need to be leading the way in evangelizing and teaching marketers the best way to reach, engage and inspire the mobile audience. We will continue to drive towards the collective goal of growing this tremendous opportunity alongside fellow board members."
"The MMA board of directors plays a pivotal role in helping shape the mobile marketing industry and in prioritizing our efforts to stimulate market growth," said Greg Stuart, CEO of the Mobile Marketing Association. “Alex and Krishna join a roster of mobile market leaders, from a who's who of companies on both the Global and North American boards, committed to building mobile into the best communications channel for marketers worldwide."

Copyright Business Wire 2010