Craig Foster Joins LiveXLive Board of Directors
BEVERLY HILLS, Calif., July 7, 2017 /PRNewswire/ -- The Board of Directors at LiveXLive (OTC: LIVX), a subsidiary of Loton, Corp, today announced the appointment of Craig Foster as a director and head of the board's Audit Committee. Foster, a Silicon Valley financial veteran, was formerly the Chief Financial Officer of Ubiquiti Networks, Inc. and most recently CFO of Amobee, a global digital advertising platform.
"Craig has a track record of making big things happen for rapidly growing companies," said Rob Ellin Executive Chairman and President of LiveXLive. "He has lead merger and acquisitions as well as capital transactions that have been game changing for his companies. Most importantly, he has extensive expertise in taking companies public and has led numerous highly successful IPO's and M&A transactions as both a CFO and banker. I'm confident he will add great value to our Board of Directors and LiveXLive will benefit from his unique experience, skills, and creativity."
"The LiveXLive team is creating a new borderless music entertainment vertical," said Craig Foster. "I believe they are building a strong business positioned for rapid growth, a management team that includes both music/tech industry veterans and digital native innovators, and a vision that truly serves music fans and artists something they crave. I'm looking forward to contributing to the company's success."
Foster has served as a CFO for Amobee and during his tenure oversaw the turn to profitability and the $310M acquisition of Turn, Inc. Prior to Amobee, Foster was the CFO and a Director at Ubiquiti Networks, the disruptive networking and communications company, where he engineered the highest net income per employee among publicly traded technology companies on NASDAQ and led a stock performance increase of 300% over two years.
Foster held investment banking positions at Credit Suisse and UBS, serving as the Co-head of software at the latter. During his employment, he completed over $8Bn worth of transactions across IPOs, M&A, debt and complex financial instruments. Prior to banking, Foster was an early employee of Loudcloud, Inc. and gained foundational operations experience across management positions in product management, business development and finance. He also held various senior positions at RBC Capital Markets, Open Market, Deloitte Consulting, and PriceWaterhouseCoopers.
Foster holds an M.B.A. in Finance from the Wharton School of Business and a B.A. in Economics from the University of California, San Diego.
Foster is the third member of LiveXLive's Board of Directors and will serve with Chairman Rob Ellin and Director Jay Krigsman. LiveXLive most recently added music industry vet Jerry Gold as CFO and SVP of Operations as well as social media stars Amanda Cerny and King Bach as content creators.
About Loton, Corp and LiveXLive, Corp
LiveXLive, Corp ("LiveXLive"), a wholly owned subsidiary of Loton, Corp ("Loton") is one of the world's only premium internet networks devoted to live music and music-related video content. Since LiveXLive's launch in 2015, LiveXLive has been building an online destination for music fans to enjoy premium live performances from music venues and leading music festivals around the world, such as Rock in Rio, Outside Lands Music and Arts Festival, Hangout Music Festival, as well as premium original content, artist exclusives and industry interviews. The LiveXLive platform has featured performances and content from some of the most popular artists in various music genres, including Rihanna, Katy Perry, Metallica, Duran Duran, Radiohead, Chance The Rapper, Bruce Springsteen, Major Lazer and Maroon 5. For more information, visit our website at www.livexlive.com and follow us on Facebook, Instagram and Twitter at @livexlive.
Forward Looking Statement
All statements other than statements of historical facts contained in this press release are "forward-looking statements." These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, successfully implementing the company's growth strategy, including relating to its technology platform, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including those described from time to time in Loton's filings with the SEC. These forward-looking statements speak only as of the date hereof and Loton and LiveXLive disclaim any obligations to update these statements except as may be required by law.
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SOURCE LiveXLive
