hi5 Networks Names Online Advertising Veteran Peter Foster New Chief Advertising Officer

San Francisco, CA, June 9, 2009 -- hi5, the world's leading social entertainment site, today announced Peter Foster, a veteran in the field of online advertising, has joined hi5 as chief advertising officer. Foster will play a critical role in driving new revenue as the company continues to rapidly expand its social entertainment strategy. In his new role, Foster will be responsible for all advertising sales and operations including: direct sales, regional partners, ad network relationships and mobile.

"Peter's results-oriented skill set is an ideal fit for hi5 as we continue to advance our social entertainment strategy and develop innovative ways to monetize our audience of over 60 million users," said Bill Gossman, CEO of hi5 Networks. "Peter is a seasoned executive and his extensive background in leading advertising sales at large properties will bring additional focus, leadership, and success as hi5 enters its next phase of growth."

Prior to joining hi5, Foster was the senior vice president of sales for Kosmix where he oversaw revenue generation efforts as well as directed the day-to-day operations of the company's sales team. Foster also served as the senior vice president of sales for Photobucket, where he formulated strategy for direct sales and partnerships, growing revenue 300 percent and contributed to the company's acquisition by Fox Interactive Media. Foster has also held leadership positions with ValueClick Media and MaxOnline, which was later acquired by Ask.com. Foster graduated with honors from Kenyon College.

Source: hi5 Networks