BELLEVUE, Wash., Feb. 24, 2016 /PRNewswire-USNewswire/ -- Donuts Inc., the world's largest operator of new domain name extensions, said today Bruce A. Jaffe has been elected to the company's board of directors, David Rostov has been named Chief Financial Officer, and Timothy Favia is the company's new Vice President, Corporate Development.
Jaffe's term began on Monday. Favia's appointment began in January and Rostov will join the company on March 7.
The additions come on the heels of strong performance by Donuts' new domain names—just last month the company processed its two millionth new domain name registration.
Having completed substantial increases in available capital and shepherding the company through its first $100 million in sales, current CFO Jeff deCillia will remain with Donuts as Senior Vice President, Finance. deCillia was heavily involved in the selection of Rostov as the new CFO.
"I couldn't be more thrilled to welcome Bruce, David, and Tim to Donuts. They will undoubtedly make an immediate impact as we prepare for future growth and success," said Donuts Co-Founder and CEO Paul Stahura. "Our team is now fully set not only to compete for new domains, but also to look carefully at potential acquisitions."
Jaffe is actively involved as an advisor and investor in early stage and growth technology companies and serves on several private and public company boards. From 1995 to 2008, Jaffe served in a series of senior capacities at Microsoft, most recently as Microsoft's Corporate Vice President, Corporate Development. He holds a BS degree from UC Berkeley and an MBA from Stanford.
"I'm very pleased to join the Donuts board of directors," Jaffe said. "I've been interested in the company for some time, and I look forward to the opportunity to contribute to this high-growth, profitable organization."
Rostov is a seasoned executive and CFO who has led several technology companies through their growth stages. Most recently, Rostov was CFO of Avalara, an award-winning cloud-based software platform focused on compliance solutions related to sales and other transactional taxes. Previously he was CFO of Infospace and Drugstore.com, where he was responsible for the latter's initial public offering.
"Donuts is a unique company with strong profitability and healthy growth, and an impressive portfolio of domain assets," Rostov said. "I'm excited to help build on the company's success to date, and I look forward to working with Jeff deCillia and the rest of the team to do so."
Favia has over 25 years of experience in building venture capital-backed technology companies from inception through initial public offering. A former partner at Fair Chase Advisors, Favia is also the former CEO of mSnap, Inc., where he built the country's largest broadcast-based mobile ad network, and Mediaplex, where as co-founder and Executive Vice President for Business and Corporate Development, he helped guide the company to a market capitalization in excess of $4 billion. Favia has been involved in the funding, development and operation of numerous other venture-backed technology companies and currently sits on the boards of several early stage companies.
"Donuts is in a position to be a natural consolidator as things settle out in the space," Favia said. "We look forward to making strategic investments in emerging business models that support new uses for domain names."
Stahura commented on each new addition: "David has a truly impressive track record with Internet companies and is the ideal candidate to work with Jeff to help Donuts grow and add shareholder value. Tim is expertly positioned to help us look carefully at strategic investments and potential acquisitions in and around the domain name space. And Bruce, as our first outside director, will help us further with our strategic vision. I'm very pleased with the strength of these individuals and how they will complement our existing team."
Donuts securely operates the largest number of the Internet's top-level domain names and provides varied and relevant online identities, in multiple languages and character sets, to businesses, individuals, and organizations worldwide. Donuts is headquartered in Bellevue, Washington, with offices in Los Angeles, Chicago, Washington, D.C. and London. For more information, please visit www.donuts.domains.
SOURCE Donuts Inc.