CDNetworks Adds Chief Strategy Officer Steve W. Chung to Drive Global Expansion
CDNetworks, a top three global, full-service content delivery network (CDN) and the #1 CDN provider in Asia, announced that Steve W. Chung has been named Chief Strategy Officer and Executive Vice President of Global Markets for CDNetworks following recent $96.5 million cash infusion.
Seoul, Korea (PRWEB) January 15, 2008 -- CDNetworks (KOSDAQ: 073710), a top three global, full-service content delivery network (CDN) and the #1 CDN provider in Asia, announced today that Steve W. Chung has been named Chief Strategy Officer and Executive Vice President of Global Markets for CDNetworks. As a leader on CDNetworks' executive team, Steve will be responsible for setting overall corporate strategy and overseeing the company's global sales and operations efforts.
Steve brings a wealth of international business experience to this new role. He was most recently Vice President of Business Development for CDNetworks US and a venture capitalist at BlueRun Ventures, a $1 billion early-stage technology investment fund in Silicon Valley. Prior to this, Steve was Chief Operating Officer of Pan Media Corporation in Beijing. He also served as a financial analyst for Goldman Sachs in New York and has provided management and government-sector consulting in New York, Washington D.C. and London.
"CDNetworks is expanding rapidly in response to the growing demand for its full range of global content delivery network services," said Samuel Ko, Founder and CEO of CDNetworks. "Steve brings international experience in various sectors and strategic leadership acumen to the executive team. Steve's ability coupled with the recent $96.5 million cash infusion assures our continued growth and the creation of long-term value for our shareholders and customers."
Steve will build on the base of the company's global network infrastructure and full suite of CDN services - caching, downloading and video streaming. CDNetworks will continue to focus on exceptional attention to customer success and quality of service. The company expansion plans include global strategic partnerships as well as an aggressive recruiting program to hire top players in key geographies.
"I am honored to be named to this key executive position at CDNetworks at this pivotal stage in the company's growth," said Steve Chung, CSO and EVP of Global Marketing for CDNetworks. "Through disciplined strategic initiatives, we intend to widen the gap between local niche players and truly global, full-service players in the CDN space. We will leverage our Asian market leadership, early success in US expansion, and loyal and rapidly expanding customer base, while adding capable and enthusiastic team members worldwide," said Steve W. Chung.
Steve will be based in Korea and will also maintain offices in the US. Steve has served on the Board of Trustees for Stanford University and was a lecturer at the China Foreign Affairs University. Steve received his A.B. (magna cum laude) from Harvard University and an M.B.A. from Stanford University.
About CDNetworks:
CDNetworks, a top three global, full-service content delivery network (CDN) service provider and the #1 CDN in Asia, delivers fast, reliable, and cost-effective solutions to transport large digital media files over the Internet. CDNetworks delivers content for world-leading online gaming publishers, broadcasters, social networking websites, and e-Learning providers. CDNetworks was founded in 2000 in Seoul, Korea and is publicly traded on Korea's KOSDAQ exchange. For more information please visit: www.cdnetworks.com.
Press contact:
CDNetworks - US
Frances Mann-Craik
+1-408-868-9577
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