Steven C. Toy CHIEF EXECUTIVE OFFICER · PRESIDENT/CHIEF OPERATING OFFICER · SENIOR VICE PRESIDENT —Bringing out the best in the team to maximize customer and shareholder value no matter the obstacles--
SUMMARY OF QUALIFICATIONS
Seasoned executive with 25+ years of experience, building start-ups—early, mid and late stage as well as internal ventures—leading revenue over $100M across verticals. Experience across Finance, Operations, HR, Sales and Marketing. Milestones: Increased Apalon's revenue run rate 2.3x to >$100M in first year, reversing a 30% YoY slide. Led TaxChat acquisition by Ernst & Young. Secured $30M+ funding across companies and rounds. Founded $15M digital market agency.
Leader of pioneering technologies, shepherding hardware, software, e-commerce, social media and user-generated products from concept to revenue and profitability, leading cross-border teams up to 80. Align tech and cross-functional teams with complementary targets behind clear vision and right goals to move revenue dial. Build strong team culture. Milestones: Launched multiple AI initiatives within a large 230,000 person organization. Boosted media EBITDA 50%+ at CheapOair.com. Created digital products to lift revenue from 10 to 50% of Billboard total. Off-shored talent to reduce programming costs at Beema by 75%.
Track record of driving change and getting hard deals done. Close negotiations where there is no precedent. Evangelize and forge paths on behalf of company and industry. Milestones: Grew revenue 4 to 5X for two trailblazing tech companies.
PROFESSIONAL EXPERIENCE GENERAL MANAGER Apalon (an IAC company), New York, NY - 2016 to Present
Challenge: Reverse a revenue run rate slide and restore organization to a growth trajectory Approach: Build trust and focus with a predominately off-shore team whose relationship with the US office was damaged Scope: Responsible for all aspects of >$100M company with ~200 employees, within a $15B+ public company
Results:
Increased revenue run rate 2.3x in first year
Increased active subscribers 5x in first year
VENTURE LEAD - AMERICAS TAX INNOVATION FOUNDRY Ernst & Young, New York, NY - 2016 to Present
Challenge: Help a very large company think and act as an entrepreneur at the intersection of AI, Blockchain and Tax Approach: Assisted teams across sub-service lines (SSL) attain fast wins and MVPs rather than define entire business models Scope: Focused on AI tech including: Machine Learning, Natural Language Processing and Generation as well as Blockchain
Results:
Worked on integrations with IBM Watson, Microsoft LUIS, Amazon AI Services and Google Cloud Platform
Initial products include NLP for searching Tax Guide, Machine Learning for classification and NLG for reports
Served as coach and mentor for both internal EY professionals and EY University outreach
Represent the Foundry on Americas Tax Innovation Council which is tasked to drive innovation through $4b+ vertical
CHIEF EXECUTIVE OFFICER TaxChat LLC, New York, NY Jan. to Nov. 2016 Challenge: Founder with legal background needed experienced leader to optimize revenue and achieve a liquidity event Approach: Focused team on accelerated design decisions and product launch, and aggressive customer acquisition Scope: Scalable team of up to 100+
Results:
Completed and launched brand new product and product category in time for tax season
Acquired first customers in crowded market with loud competitive noise through aggressive marketing strategy
To fill top of customer funnel, led multiple partnership discussions, which ultimately led to timely acquisition
Spearheading execution of acquisition, including integration and winding down of TaxChat team and entity
SENIOR VICE PRESIDENT & GENERAL MANAGER – MEDIA, HOTELS, CARS & CROSS-SELL CheapOair.com (subsidiary of Fareportal Inc.), New York, NY - 2013 to 2015
Challenge: Grow all ancillary revenue as company aligned behind strategic decision to deepen focus on air revenue Approach: Set strategy, lobbied for aligned team targets, upgraded data capability and closed on non-traditional deals Scope: $4B+, 3,200-employee ecommerce company; Led $100M+, cross-border/matrixed dept. of 80, 4 brands, 7 products
Results:
Increased revenue per air ticket 47% in first 3 quarters of 2015 via cross-selling and launching three new products
Boosted EBITDA 50%+ year over year for media group
Achieved highest quarterly revenue for hotels and cars in Q3 2015
GENERAL MANAGER – DIGITAL Billboard.com (owned by Prometheus Global Media), New York, NY - 2011 to 2013
Challenge: Grow digital revenue, navigating major transition to digital and consumer mindsets, and leadership instability Approach: Reset strategy, cleared path for team to reinvent site, and collaborated with editorial to drive readership Scope: 10M traffic, 150-employee trade publication; Responsible for creating digital products with 15-employee team
Results:
Built products that grew digital revenue from 10% to 50% of total grossing +$10M, average monthly views up 30%, trebled social media audience to 3M, lifted music awards social activity 7X year over year
Built brand in consumer space through leading-edge digital products, assets and events, including several ‘firsts’, such as 3rd largest event in Shazam history and largest playlist following in Spotify history with 1.5M+ followers
CEO & CO-FOUNDER Beema Animations (owned by Beema Inc.), San Francisco, CA - 2007 to 2011
Challenge: Scale capability built within Beema Services by shifting from services to product business Approach: Developed first video-messaging application that put user-generated audio into mouths of avatars Scope: $15M, scalable, cross-border team of 5 to 15
Results:
Raised $1.5M from angel investors, starting in 2004
Developed app that gained thousands of users years before tipping point of video social platforms and culture
Integrated app into all major mobile providers and social network platforms
VICE PRESIDENT – SALES Software Secure Inc., Boston, MA - 2004 to 2007
Challenge: Sell pioneering technology, closing deals with no precedent Approach: Established Sales function, and evangelized industry and company Scope: $1.7M, 12-employee company in digital security for online test taking; Responsible for sales team of 5
Results:
Grew revenue almost 5X in three years, while achieving 95% customer renewal rates
Oversaw development of top revenue producing hybrid software, hardware and SaaS product, including finding team leader, building team across US, China and Russia, and negotiating to ensure profitability
CEO & CO-FOUNDER Beema Services (owned by Beema Inc.), San Francisco, CA - 1996 to 2004
Challenge: Companies were seeking trusted experts to support their foray into digital strategy Approach: Founded agency to provide cutting-edge, multi-channel services, and contributed as early thought leader Scope: $15M, scalable, cross-border team of 7 to 20
Results:
Founded and led company to $15M across three offices and 100+ clients, such as Baxter, Cisco, IDG and eBay
Developed innovative offerings, including first video email solution, partnering with Responsys (now Oracle)
VICE PRESIDENT – FINANCE, HR, BUSINESS DEVELOPMENT & OPERATIONS ICTV Inc. (now ActiveVideo), San Francisco, CA - 1991 to 1996
Challenge: Build operations for early interactive TV company, and shepherd long, cross-functional sales cycle Approach: Led four departments, Board relations and product committee, and built brand awareness as public speaker Scope: $9.2M, 110-employee company; Responsible for budget management and 90 employees
Results:
Supported 4X+ growth, establishing and scaling business development and back office infrastructure
Played key role in securing $30M+ from investors, such as IBM, and in landing first sale which generated $5M
Led team to develop first interactive TV system (which won $260M from Verizon for patent infringement in 2012)
Aligned company behind strategic shift to platform focus, handling major resizing and change management
VICE PRESIDENT – SPECIAL PROJECTS TIA Ltd., Sydney, Australia - 1989 to 1991
Challenge: Prevent government censorship of advertisements for member companies, reporting to CEO Approach: Led multi-pronged lobbying strategy, navigating tense negotiations with top most officials Scope: $10M, 12-employee organization; Responsible for management of budget, vendors and 3 employees
Results:
Successfully prevented all legislation that restricted advertising
PROFESSIONAL AND CIVIC AFFILIATIONS
Chairman Emeritus and Board President, Vision Literacy, Millpitas, CA - 1996 to present Board Member, Literacy Volunteers of Massachusetts, Boston, MA - 2005 to 2007 Volunteer, U.S. Small Business Administration, San Francisco & San Jose, CA - 1998 to 2004
Certificate of Special Congressional Recognition from US Member of Congress, Zoe Lofgren 2011 Junior League Crystal Bowl Award Winner for Leadership in Volunteerism 2011
SKILLS
P&L | Start-Ups | Fundraising | Financial Analysis | Board & Governance | Product Development |Business Development | Metrics-Driven Insight | Strategic Partnerships | Cross-Border Teams | Public Speaking | Negotiations | Artificial Intelligence Technologies