Company appoints inaugural Chief Revenue Officer

New Appointment at Nift: Saket Mehta Takes on Role as First Chief Revenue Officer

American technology company Nift has announced the appointment of Saket Mehta as its first Chief Revenue Officer. In his new role, Mehta will oversee sales, business development, and partnerships with enterprises and brands.

Mehta will report directly to Nift founder and CEO Elery Pfeffer and will work to drive revenue growth and build commerce partner and DTC brand networks.

Nift's AI-powered technology helps fintech and other consumer-facing platforms monetize their commerce media network inventory. The company's technology offers a more personalized experience that boosts consumer sentiment, engagement, and loyalty.

The conversion rates for traditional digital ads on popular search and social media platforms are typically 1-3 percent. However, Nift's customer acquisition model is cost-effective and delivers better ROI than traditional banner ads, with conversion rates of up to 10 percent.

Nift's two-sided ad marketplace enables commerce platforms to unlock passive revenue and gives direct-to-consumer brands an efficient way to acquire new customers. The company's platform drives new demand for DTC brands' products and services and encourages repeat purchases.

Mehta is thrilled to join Nift at this key point in the industry's evolution. He previously served as Vice President of Global Advertising Partnerships and Revenue at Block, the parent company of Cash App, Afterpay, and Square. Nift's recent partnership with Klarna builds on its earlier launch with Cash App Afterpay.

In recent months, Nift has also partnered with fintech company Klarna and consumer goods company Unilever to enhance commerce media network inventory monetization using AI technology.

According to the company's data, 88 percent of consumers who receive a Nift gift rate it positively. Furthermore, 70 percent of those who redeemed a Nift say they will use the brand again, and 72 percent of consumers who receive a Nift say they like the gifting company more for giving them a thank-you gift.

Each month, Nift delivers more than 50 million 'thank you' gifts for its partners in the US, the UK, and Canada. Mehta stated that commerce media can't follow the same playbook as retail media, and that Nift's AI platform allows consumer-facing platforms to drive passive revenue and create incremental ad inventory that feels native to their brand without disrupting the customer experience.

Elery Pfeffer, Nift's founder and CEO, commented on Mehta's appointment, expressing confidence in Mehta's ability to drive revenue growth and build commerce partner and DTC brand networks.

With Mehta's expertise in global advertising partnerships and revenue, Nift is poised to continue its growth and success in the commerce media industry.