Advertising.Com Receives Major Investment
A group of big-name investors sinks $57 million into online ad firmAdvertising.com.
Online ad company Advertising.com Inc. this week received a total of $57 million in new funds from a group of investors, led by Reuters Group, PLC.
In addition to Reuters , Advertising.com says it has received strategic investments from America Online, Inc. , ad giant WPP Group PLC , WorldCom Venture Fund, Grotech Capital Group, New Enterprise Associates (NEA), Blue Chip Venture Capital Company Ltd., Wheatley Partners, Credit Suisse First Boston Private Equity, and Access Technology Partners, LP, an affiliate of Chase Capital Partners.
Advertising.com offers a range of technologies for targeting consumers through the Internet, desktop, and wireless products. The company, which claims 5,000 Web sites in its network, uses both the CPM model and the cost-per-click (CPC) model. Advertising.com also offers an optimization and database technology, called AdLearn, and has email marketing capabilities.
This sizeable new investment, and the resources of Advertising.com’s new financial backers, signifies the company’s intention to be a major player in the online advertising industry. Until now, it has been overshadowed by companies like DoubleClick, 24/7 Media, and Engage. The participation of AOL in this funding round is also interesting, since the ISP giant has not, until now, had an ownership stake in an advertising network.
“This financing will provide Advertising.com with the resources to move more rapidly toward becoming the leading provider of integrated Internet-enabled marketing solutions,” said Scott Ferber, co-founder and CEO of Advertising.com.
“With extensive backing from key partners, Advertising.com is sure to experience continued growth and advancements in all our product offerings,” he said.
