Michael Walrath

{{Short description|American businessman (born 1975)}}

{{Infobox person

| name = Michael Walrath

| image = Michael Walrath.jpg

| birth_name =

| birth_date = {{birth date and age|1975|04|17}}

| birth_place = Brookfield, Connecticut, US

| education = Brookfield High School, University of Richmond

| other_names =

| employer =

| occupation = Businessman

| years_active =

| spouse =

| parents =

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| website = {{URL|http://www.wgifund.com/team.html|WGI Group}}

| known_for = CEO and founder of Right Media

| awards =

}}

Michael Walrath (born April 17, 1975) is an American investor, advisor, and entrepreneur known for founding and leading startup and expansion-stage companies. He was the CEO and founder of Right Media, an online advertising exchange marketplace that was acquired by Yahoo for $850 million in 2007.{{cite web |date=April 12, 2011 |title=(Founder Stories) How Mike Walrath Built Right Media And Sold It For $850 Million |url=https://techcrunch.com/2011/04/12/founder-stories-right-media-walrath/ |accessdate=September 5, 2012 |work=TechCrunch}} Walrath is also a co-founder of the WGI Group, an early-stage venture capital firm.

Early life and education

Walrath grew up in Brookfield, Connecticut, and graduated from Brookfield High School. In 1997, he earned a Bachelor of Arts degree in English from the University of Richmond.

Career

= Early career =

After college, Walrath worked in promotional marketing for Reebok and held roles as a personal trainer and fitness program manager.{{cite web |date=December 2008 |title=English major Michael Walrath, '97, sells his fledgling Internet company to Yahoo for $720 million |url=http://magazine.richmond.edu/winter08/feature_2/index.html |url-status=dead |archiveurl=https://web.archive.org/web/20130417173911/http://magazine.richmond.edu/winter08/feature_2/index.html |archivedate=April 17, 2013 |accessdate=September 5, 2012 |work=Richmond: The Alumni Magazine}} In 1999, he joined DoubleClick, where he became the director of direct marketing and later the senior vice president of strategy and development at MaxWorldwide. During his time at DoubleClick, he helped create DoubleClick Direct, a direct marketing service.

= Right Media =

In 2003, Walrath founded Right Media, a digital advertising exchange marketplace. The company experienced rapid growth, with revenues increasing from $1.3 million in 2003 to $34.8 million in 2006. Inc. magazine ranked Right Media 43rd on its list of the fastest-growing private companies in the United States.{{cite web |date=June 2007 |title=Inc 500 - Right Media |url=http://www.inc.com/inc5000/profile/right-media |accessdate=September 5, 2012 |work=Inc}} Walrath served as Yahoo's Senior Vice President of Advertising Strategy until 2009.{{cite web |date=November 16, 2009 |title=Right Media Founder to Leave Yahoo |url=https://blogs.wsj.com/digits/2009/11/16/right-media-founder-to-leave-yahoo |accessdate=September 5, 2012 |work=The Wall Street Journal}}

= WGI Group and Investments =

In 2009, Walrath co-founded the WGI Group with Noah and Jonah Goodhart. The venture capital firm focuses on seed investments in internet-based startups. Walrath also became chairman of Yext,{{cite web |date=March 18, 2011 |title=Right Media Founder Michael Walrath Becomes Chairman of Yext |url=https://techcrunch.com/2011/03/18/walrath-yext-chairman/ |accessdate=September 5, 2012 |work=TechCrunch}} a location data software company, and chairman of Moat,{{cite web |date=April 23, 2011 |title=Clicks Be Gone: AdTech Disrupter Moat Raises $12M Series B From Mayfield, Others |url=https://techcrunch.com/2012/04/23/clicks-be-gone-adtech-disrupter-moat-raises-12m-series-b-from-mayfield-others/ |accessdate=September 5, 2012 |work=TechCrunch}} an analytics company specializing in digital ads.

= Atlas Films =

In 2008, Walrath co-founded Atlas Films, a production company focused on feature-length documentary films{{Cite web |title=Atlas Films: Rich Remsberg Image Research |url=https://atlasfilms.org/ |access-date=2025-01-08 |website=atlasfilms.org}} addressing social issues.{{cite web |date=January 2008 |title=Michael Walrath |url=http://www.atlasfilms.com/team/michael-walrath |url-status=dead |archiveurl=https://web.archive.org/web/20121010055235/http://atlasfilms.com/team/michael-walrath |archivedate=October 10, 2012 |accessdate=September 5, 2012}} The company's debut film, Tapped, examined the bottled water industry's environmental and health impacts. Atlas Films also partnered with Katie Couric on The Big Picture,{{cite web |date=January 2008 |title=The Big Picture |url=http://atlasfilms.com/thebigpicture |url-status=dead |archiveurl=https://web.archive.org/web/20120907132819/http://atlasfilms.com/thebigpicture |archivedate=September 7, 2012 |accessdate=September 5, 2012}} a documentary exploring the root causes of childhood obesity.{{Cite web |last=Guthrie |first=Marisa |date=2012-04-25 |title=Katie Couric, Laurie David Team for Feature-Length Obesity Doc (Exclusive) |url=https://www.hollywoodreporter.com/news/general-news/katie-couric-laurie-david-big-picture-315724/ |access-date=2024-09-05 |website=The Hollywood Reporter |language=en-US}}

= Other ventures =

In 2012, Walrath acquired The Surf Lodge, a concert and nightlife venue in Montauk, New York, {{cite web |date=April 30, 2012 |title=A Tech Entrepreneur Just Bought One Of The Hottest Nightspots In The Hamptons |url=http://articles.businessinsider.com/2012-04-30/lifestyle/31490016_1_guest-courtesy-new-owner |url-status=dead |archiveurl=https://archive.today/20130118161348/http://articles.businessinsider.com/2012-04-30/lifestyle/31490016_1_guest-courtesy-new-owner |archivedate=January 18, 2013 |accessdate=September 5, 2012 |work=Business Insider}} and became part-owner of the restaurant Swallow East, also in Montauk.{{cite web |date=June 14, 2012 |title=Interview: Swallow East Co-Owner James Tchinnis Talks About The Opening Of His New Montauk Restaurant |url=http://guestofaguest.com/hamptons/interview/an-exclusive-interview-with-swallow-east-co-owner-james-tchinnis |accessdate=September 5, 2012 |work=Guest of a Guest}}

Philanthropy

In 2008, Walrath and his wife, Michelle, founded the Walrath Family Foundation, which supports social, environmental, and health organizations.{{cite web |date=March 21, 2011 |title=Yext Appoints Right Media Founder Michael Walrath to Chairman Post |url=http://www.sfgate.com/business/article/Yext-TM-Appoints-Right-Media-Founder-Michael-2377900.php |accessdate=September 5, 2012 |work=SFGate}} The foundation has contributed to environmental groups such as Grassroots Environmental Education, Food and Water Watch, and the Peconic Land Trust.{{Cite web |title=Homepage |url=https://peconiclandtrust.org/ |access-date=2025-01-08 |website=Peconic |language=en-US}} The Walrath Family Foundation also supports arts initiatives and organizations focused on addressing humanitarian crises, including genocide.{{Cite web |title=Michael Walrath - Tech Philanthropists {{!}} Donors {{!}} Foundations - Inside Philanthropy |url=http://insidephilanthropy.squarespace.com/guide-to-individual-donors/michael-walrath.html |access-date=2016-02-03 |website=insidephilanthropy.squarespace.com}}{{Dead link|date=September 2019|bot=InternetArchiveBot|fix-attempted=yes}}

Recognition

In 2007, Walrath received the Ernst & Young Entrepreneur of the Year Award for his work with Right Media.

Key accomplishments

  • Right Media: Founded and sold the company to Yahoo for $850 million.
  • Yext: Board chair of a company valued at $270 million.{{cite web |date=June 12, 2012 |title=Yext Raises $27M More At A $270M Valuation |url=https://techcrunch.com/2012/06/12/yext-series-e/ |accessdate=September 5, 2012 |work=TechCrunch}}
  • Atlas Films: Produced socially conscious documentaries such as Tapped.
  • WGI Group: Co-founded a venture capital firm investing in internet startups

References