09:59 AM

Federated Media Loses Co-Founder - Chas Edwards Leaves For Digg

chas-edwards-photo-300x225.jpg.jpeg This one surprised me: Chas Edwards, a co-founder of Federated Media Publishing, an ad network pioneering "conversational marketing," announced he is leaving to join Digg, one of FM's clients.

Recently, John Battelle, another co-founder said he would step down as CEO but remain on staff. These top level changes come during tough economic times but most ad networks seem to be growing and doing well. (Please see: Adify: Everything Is Hunky Dory In Online Advertising.) It is not clear if the changes at the top have anything to do with FM's performance since it is a private company.

Mr Edwards was considered by many in the industry to be FM's most valuable asset because of his long experience in online advertising markets, especially his work at CNET.

Here is his farewell note:

In the coming weeks I’ll be joining some old friends and business colleagues at Digg, to be its publisher and chief revenue officer.

Time for a New Adventure