Raketech names Mühlbach as new COO

Online affiliate and content marketing provider Raketech has appointed Oskar Mühlbach as its new chief operations officer.

Mühlbach will move into his new role on May 1, joining the senior management team at Raketech and taking charge of its geographic expansion and digital user experience.

He joins Raketech having most recently served as chief ventures officer and managing director of Green Media, the digital media agency run by online gaming operator Mr Green.

Earlier in his career, Mühlbach also spent time on the management team at shoes retailer Footway Group and was COO of glasses and contact lenses supplier Lensway.

“The gaming market is changing, and it is vital for all companies to optimise their business models and become even more digital in their way of working,” Mühlbach said.

“When Raketech continues to expand, I believe one of my most important tasks is to secure high scalability when entering new market.”

Raketech CEO Michael Holmberg added: “With a solid background working in senior roles in digital businesses, Oskar fulfils all criteria needed for the COO role.

“This is part of our global ambitions, where we will continue to grow organically and via M&A both in the Nordics and other regions.”

The appointment comes after Raketech in February reported a decline in profit for 2018. Profit slipped from €5.8m (£5.0m/$6.5m) in 2017 to €4.6m and profit before tax also fell from €6.1m to €4.8m.

Raketech was hit by higher operating expenses during 2018, with this up from €8.3m to €14.4m, due to higher spend on external SEO, hosting, development and domain expenses.

However, Raketech moved to address this last month by repaying its corporate debt of €7.7m, cutting its quarterly financial expenses in the process. Raketech expects to save around €200,000 each quarter, thus lowering expenses moving forward into 2019.