Under the all-stock transaction, Picard will join MediaMath as VP of strategic partnerships as the media-buying platform builds out products around private marketplaces and "automated guaranteed" inventory (i.e., direct site buys).
The deal has the markings of an acqui-hire. Picard, whose title at MediaMath will be VP of strategic partnerships, is the only exec from Rare Crowds' small team going over to MediaMath. Co-founder and CTO Scott Tomlin will consult with MediaMath through the transfer of Rare Crowds' technology.
A well-known figure in the ad tech space, Picard founded Bluestreak, an early ad server and rich media platform. Later he was an architect of Microsoft's ad platform strategy, and he also held a senior product role at TRAFFIQ before that company exited ad tech and repositioned as an agency.
His responsibilities at MediaMath will include oversight of the company's relationship with Akamai, from which it acquired Advertising Decision Sciences – along with its pixel-free ad targeting technology – in January 2013.