More NewsGoTo.com Raises $6 Million in First Round of Financing

GoTo.com Raises $6 Million in First Round of Financing

GoTo.com in Pasadena, CA, a search engine thatoperation that allows Web sites to purchase placement within search resultsusing a real-time bidding process, completed its first round of financing,totaling in excess of $6 million.

GoTo.com in Pasadena, CA, a search engine that operation that allows Web sites to purchase placement within search results using a real-time bidding process, completed its first round of financing, totaling in excess of $6 million.

Primary investors include Draper Fisher Jurvetson and idealab! Capital Partners.

“These investment partnerships provide GoTo with the resources needed to fully implement our vision of an efficient market for consumer attention,” said Jeffrey Brewer, chief executive officer of GoTo.com.

GoTo.com uses the approach of empowering the marketplace to determine the ranking and relevance of advertiser listings.

As a consequence of the open-market bidding system, GoTo advertisers are aware of the amounts their competitors are bidding for a click-through within the search results for a given search term. Any advertiser can increase a bid for a listing in order to obtain a higher ranking.

The model is similar to a Yellow Pages directory, in which advertisers are accordingly charged for more prominent placement and greater exposure, the company said. However, advertisers pay only for actual visits to their sites.

GoTo, an idealab! spinoff, currently has a beta version of the site online, with consumer launch scheduled for the beginning of June. GoTo.com is planning a major consumer launch for June, backed by a multimillion-dollar marketing campaign.

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

3w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts