

Innovative advertising solutions since
2001
For over two decades, Ad.net has been the leader in independent search technology, working with premium brands and publishers to generate millions in annual incremental revenue.
Our flagship product, Search IQ, is an independent proprietary keyword and intent search network that provides advertisers with extended reach while delivering performance-driven advertising.
Ad.net is headquartered in Los Angeles, California, and has a large remote presence.
The Leadership Team


Jon Waterman
As CEO and Co-founder, Jon leads Ad.net. in creating and optimizing new solutions for advertisers to discover new customers. An experienced entrepreneur and executive with over 25 years of experience in advertising technology and publisher solutions, his mission is to create the world’s most efficient and scalable performance marketing platform. Day-to-day that means pushing Ad.net employees to focus on solving problems for their customer. Those who know Jon describe him as a visionary in the industry, with a knack for anticipating trends and staying ahead of the curve.

Caryn Wernecke
Caryn manages all financial matters for Ad.net, including accounting and financial reporting, budgeting and financial planning. Caryn has over 20 years of financial management experience, from involvement in major acquisitions by a public company to overseeing day-to-day accounting and financial tasks.

Ajay Sathyanath
As Chief Product & Technology Officer (CPTO), Ajay brings extensive leadership experience in the technology and digital advertising industries, with a proven track record of guiding large, global teams to success. In his previous leadership role at Madison Logic, Ajay productized and monetized data assets, introduced processes, forged strategic partnerships, and significantly scaled both EBITDA and revenue, culminating in an exit valued at over 15x. Ajay also advises private equity firms on enhancing portfolio performance. Earlier in his career, Ajay worked at Bell Labs, where he spent several years in R&D and authored over 20 patents, including groundbreaking contributions in AI and data science. Ajay earned his master’s degree from the Indian Institute of Science, a globally recognized research university.

Tony Nguyen
Co-Founder
As Ad.net’s CIO, Tony is responsible for managing all technical operations of the Ad.net platform and infrastructure. Working across teams to bring new products to market and make improvements to Ad.net’s core ad serving infrastructure, Tony brings more than 15 years of technology experience to ensure each ad experience is delivered seamlessly to publishers’ highest intent users.

Ray Hon
As Chief Innovation Officer, Ray leads product development at Ad.net and SearchIQ where he focuses on delivering our vision for advertisers and publishers. Having joined Ad.net in 2011, Ray is responsible for the architecture and design of our platform and continuously innovating our product and solutions. Ray combines 15 years scaling the technology for advertisers, and publishers such as Yahoo!, Adconion Media Group, and Datapop, with degrees in Computer Science from Cal Poly Pomona and Biochemestry from UCLA to develop cutting-edge solutions like developing our advanced Natural Language Processing AI models to better identify and satisfy user intent.

Justin Nakamura
As Chief Operations Officer, Justin manages the BI, reporting, operations and Product Roadmap for Ad.net. After building Ad.net’s SmartPricing engine, our price optimization and automated bidding tool for advertisers, he moved into his role leading and growing the Business Intelligence team into an engine for successful advertiser campaigns. By focusing on organized efficient and effective operations, Justin is ensuring growth for advertisers and Ad.net alike.

Todd Ulise
As SVP, Partnerships, Todd Ulise is responsible for the Advertiser side of the Ad.net marketplace. Having joined the company in 2011, Todd is credited with developing the go-to-market strategy at Ad.net, and has been instrumental in driving the company’s growth whether through strategy, managing key client relationships, or building future leaders and employee development. Prior to Ad.net, he started the publishing team at TrafficMarketplace and built it into one of the first and largest ad networks, which he sold to Vivendi Universal in 2001. He also cofounded and sold the premier comedy agency iMarket Services, the top comedy based audio website.

Adam Alworth
As SVP, Publisher Management, Adam manages the team that is responsible for onboarding, optimization and growth of our publisher partners. Prior to joining Ad.net Adam spent nearly a decade at PriceGrabber.com managing strategic publisher relationships and the company’s publisher platform operations. At Ad.net, Adam has leveraged his experience in comparison shopping to expand the company’s offerings within the ecommerce vertical, among others. Adam holds a B.S. in Business Administration from California State University, Northridge, and an MBA with a focus on Management and Organizational Behavior from Loyola Marymount University.

Daniel Packer
As Head of Revenue Optimization, Daniel is constantly looking for ways Ad.net advertisers can improve their outcomes. Building on his role leading Account Management at Ad.net for five years, Daniel now is dedicated to finding incremental performance improvement for every campaign whether through a creative, tech, keyword or search-data improvement.

Marc Krigsman
Marc is a seasoned business leader and experienced technology, software, and media growth executive with a proven track record of building and selling successful global companies. Previously, Marc served as CEO of SQAD, the largest independent provider of global business solutions for managing advertising investments. He also founded Cross MediaWorks (now Cadent), a pioneer in programmatic TV advertising. Cadent redefined TV brand advertising by offering solutions across cable, broadcast, and OTT platforms, improving campaign efficiency and boosting results.
Earlier in his career, Marc held executive roles, including COO of Turner Networks Group, EVP at Primedia Productions, and SVP/GM positions at FOX Cable Networks and The Health Network. He was also the first Head of Original Programming at ESPN/espn2, Director of Programming and Acquisitions/EP at ABC Video, and held production roles at NBC and Cablevision.
Our Board

Jon Waterman
As CEO and Co-founder, Jon leads Ad.net. in creating and optimizing new solutions for advertisers to discover new customers. An experienced entrepreneur and executive with over 25 years of experience in advertising technology and publisher solutions, his mission is to create the world’s most efficient and scalable performance marketing platform. Day-to-day that means pushing Ad.net employees to focus on solving problems for their customer. Those who know Jon describe him as a visionary in the industry, with a knack for anticipating trends and staying ahead of the curve.

Brandon M. Katz
Beginning his journey as an Associate at Clarion in 2008, he later rejoined the firm in 2011 after a tenure at PioneerPath Capital, a division of Citadel Investment Group. There, he leveraged his skills as an equity analyst, focusing on the dynamic Gaming, Lodging, and Leisure sectors. Prior to this, from 2006 to 2008, Brandon played a key role in the Investment Banking Division of Bear, Stearns & Co. Inc., contributing to the Technology, Media, and Telecom group. Brandon graduated from Boston University with a BSBA in 2006. Today, he contributes as a board member to prominent entities including Ad.net, V10 Entertainment, and Premiere Digital. His past endeavors encompass board roles at Madison Logic, SQAD, and Ametros.

Catherine Levene
With a rich career spanning more than 25 years in the media and publishing industry, Levene boasts extensive experience that culminated in her pivotal role in Meredith’s acquisition by IAC’s Dotdash. During her tenure at Meredith, she orchestrated the stewardship of a diverse portfolio of over 40 renowned brands, including PEOPLE, Allrecipes, Entertainment Weekly, InStyle, TRAVEL+LEISURE, REAL SIMPLE, and Magnolia Journal. Formerly a key member of the Executive Committee of Digital Content Next and a board member for notable entities such as Rent the Runway (IPO), TheFind (acquired by Facebook), Purch (acquired by Future PLC), and business.com (acquired by Centerfield Media), she currently lends her expertise to Ad.net’s and NPR’s Board of Directors.

David Bell
With a tenure exceeding 40 years in the advertising industry, Bell has demonstrated his leadership acumen as CEO for distinguished entities such as Bozell Worldwide, True North Communications, and The Interpublic Group. As the Founder Chairman of Gyro, the foremost independent global creative agency exclusively focused on business-to-business marketing, he also serves as an independent director for Madison Logic, a trailblazer in account-based marketing. Bell’s strategic insights extend to his roles on the boards of Ad.net, distillery, Creative Realities, and Kin and Carta plc. Notably, his contribution as senior advisor to AOL encompassed pivotal milestones, including its IPO, acquisition by Verizon, and purchase of Yahoo. In recognition of his monumental impact, Mr. Bell earned induction into the Advertising Hall of Fame in 2007. Mr. Bell is the only one to have been chairman of four industry associations. The 4A’s the AAF, the Ad Council and the AEF. In recognition, the hall of Fame named an award after him given to the inductee who has demonstrated service to the ad industry.

David B. Ragins
Bringing over a decade of expertise, he joined Clarion Capital in 2006 following roles at Seaport Capital, LLC, Merrill Lynch’s M&A group, and Bank of America’s Leverage Finance Group. With a keen acumen, he is a board member at Ad.net, V10 Entertainment, and Premiere Digital. His prior contributions include board roles at Madison Logic, SQAD, and Cross Mediaworks. David graduated from the Wharton School of the University of Pennsylvania with an MBA in 1999, complemented by a BS in Finance from Babson College in 1994. He also engages with the New York Advisory board for The Trust for Public Land and supports the SOM Business Advisory Council at the University of Alaska. Outside the realm of finance, David’s passions extend to backing the New York Rangers and exploring National Parks across the country.

Marc A. Utay
Formerly a Managing Director and Co-Head of the MET Group, Leveraged Finance Group, and Retail Group at Wasserstein Perella & Co., he brings a wealth of experience to his portfolio. His career journey has also encompassed significant roles at BT Securities, Kent Capital Partners, and Drexel Burnham Lambert Inc. Marc’s strategic influence extends to his directorial roles on prominent boards. He currently serves on the board of directors at Ad.net, V10 Entertainment, Premiere Digital, and OpenRoad Lending. In his past engagements, he provided his expertise to companies such as Madison Logic, SQAD, Lenox Holdings, Moravia, Ametros, Cross Mediaworks, Crowe Paradis Servicing Corporation, Great Northwest Insurance Company, Hartmann, Reliant, Strategic Outsourcing Inc., and Oceanaire. He graduated from the Wharton School of the University of Pennsylvania with a BSE in 1980, followed by an MBA in 1981.

Proud to work with Clarion Capital Partners
Ad.net partnered with Clarion Capital Partners in 2021 to help facilitate growth. The expertise of our board and contacts in publishing expands our advertisers’ supply and network of new customers.
The values that guide us

People First
Putting people at the forefront. We’re all about supporting each other, fostering growth, and creating a company where everyone feels valued.

Results Driven
Focused on outcomes. We set goals, measure progress, and stay committed to achieving success together.

Entrepreneurial
We embrace innovation and actively seek out opportunities. As a team of go-getters, we’re constantly exploring new ideas and approaches.

Relationship Focused
Nurturing connections. We prioritize building strong relationships with our team, clients and partners.
