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Harvard Professor and Global Authority on Algorithmic Economics Joins Nanigans

Nanigans Appoints David C. Parkes, Ph.D as Technical Advisor; Accelerates Development of Its Facebook® Advertising Platform

BOSTON, Mass. –- March 1, 2012 (BUSINESS WIRE) — Nanigans, Inc., a leading Facebook advertising technology company, has appointed David C. Parkes, Ph.D as Technical Advisor. Dr. Parkes is a Professor of Computer Science in the School of Engineering and Applied Sciences at Harvard University and a global authority on topics at the intersection of computer science and economics, including machine learning, auction theory, electronic commerce and artificial intelligence.

Dr. Parkes advises Nanigans’ engineering team on continued development of its automated bidding algorithms for the Facebook advertising marketplace. These proprietary algorithms are core features of the Nanigans Ad Engine™, a software platform designed for large-scale advertisers looking to maximize ROI on their Facebook ad spend.

Leveraging statistics and machine learning, Dr. Parkes also focuses his time at Nanigans on analyzing the cost and value of Facebook audience segments as it relates to advertising.

“David is a world-renowned thought leader, and a welcomed addition to our engineering team,” shared Ric Calvillo, CEO of Nanigans. “As the Facebook Ads marketplace becomes increasingly competitive, our Ad Engine’s optimization and bidding algorithms become more important in driving campaign performance and ROI. These algorithms, a layer of artificial intelligence on top of the Facebook Ads API, free campaign managers from the labor-intensive management of bidding, budgeting and optimization. We’re thrilled to have a global authority like David joining our team in such a meaningful capacity.”

At Harvard, Dr. Parkes founded the Economics and Computer Science research group, and teaches classes in artificial intelligence, machine learning, optimization, and topics at the intersection between computer science and economics. Dr. Parkes serves as Editor of Games and Economic Behavior, the Chair of the ACM SIG on Electronic Commerce, and on the boards of the Journal of Autonomous Agents and Multi-Agent Systems, the ACM Transactions on Economics and Computation, and the INFORMS Journal of Computing. Previously, Dr. Parkes served on the editorial board of the Journal of Artificial Intelligence Research.

Dr. Parkes received his Ph.D. degree in Computer and Information Science from the University of Pennsylvania in 2001, and a M. Eng. (First Class) in Engineering and Computing Science from Oxford University in 1995. He is currently on sabbatical to revise a book on economics and computation.

About Nanigans

Nanigans offers Facebook advertising software that maximizes ROI. Developed using the Facebook Ads API, the company’s Ad Engine™ platform automates the labor-intensive process of managing large-scale Facebook advertising campaigns, measuring beyond the initial click to meet specific performance goals: from driving Likes, app installs and registrations to word-of-mouth referrals, add-to-cart events and repeat purchases.

Delivering over 175 billion Facebook Ad impressions in 2011 alone, over 100 companies license the Ad Engine or leverage Nanigans’ managed service offering. Founded in 2010 and backed by Avalon Ventures, Nanigans is located in the heart of Boston, has 50 employees and is growing rapidly. To learn more visit: www.nanigans.com.

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