NEW YORK, Dec. 17, 2014 /PRNewswire/ -- The Raine Group, a global merchant bank focused exclusively on technology, media and telecommunications, today announced that Mika Salmi has joined the firm as a Senior Advisor. A veteran technology and digital media entrepreneur and investor, Salmi brings many years of deep experience to the firm. He will be based in San Francisco and will work with Raine on digital media and technology-related initiatives.
"Mika is one of the most creative and forward-thinking leaders in this space, as well as a trusted colleague whom I have known for nearly two decades," said Raine Group co-founder Jeff Sine. "I am confident that his experience and proven track record of building, managing and advising the world's leading digital companies will contribute greatly to our team."
Prior to joining Raine, Salmi served as CEO of CreativeLive, Inc., a leading social video platform for the $100 billion continuing education market. Under Salmi's leadership, the firm expanded significantly, increasing revenues over 600% and raising over $30 million in funding from a number of top-tier investors including Greylock Partners and Social + Capital Partnership.
"My entire career has been at the crossroads of global media and technology so joining Raine as a Senior Advisor was a logical move for me," said Salmi. "I am looking forward to working with the world class team at Raine and their impressive network of clients and portfolio companies."
A widely-recognized digital media entrepreneur, Salmi successfully founded and served as CEO of numerous companies, including Atom Entertainment, a pioneering user-generated online video platform that was sold to Viacom in 2006 and includes the AtomFilms, Shockwave and AddictingGames brands. He was also the founder and CEO of Mad Races, a GPS and mobile-based gaming company that was sold to Betaworks in 2010. Salmi also served as President of Global Digital Media for MTV Networks/Viacom, working across all of Viacom's 33 brands and overseeing more than 1,500 employees in 60 countries. Salmi's leadership helped quadruple Viacom's digital revenues to over $1 billion while also helping transform MTV Networks into a global new media leader. Salmi graduated Phi Beta Kappa from the University of Wisconsin, Madison, and earned his MBA from INSEAD in Fontainebleau, France. He currently serves on numerous company Boards, including CreativeLive, INSEAD and Feed.fm.
The Raine Group invests and advises across the media landscape. Some of the firm's principal investments include fantasy sports and online gaming provider DraftKings, South Park creators' Important Studios, restaurant operator and brand licensing company Margaritaville, multimedia fitness leader Zumba Fitness, live event producer C3 Presents, action sports collective Nitro Circus and multimedia producer Vice Media.
About The Raine Group
The Raine Group is a global merchant bank focused exclusively on technology, media and telecommunications. Founded in 2009 by Joseph Ravitch and Jeffrey Sine, in partnership with WME Entertainment, Raine has in excess of $900 million in assets under management. The firm has offices in New York, Los Angeles, Palo Alto and Beijing. With a global reach, Raine focuses on growth equity investments where its deep industry experience and unique network of strategic relationships, limited partners and advisory board members can create value for portfolio companies. For more information visit http://www.raine.com/.
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SOURCE The Raine Group