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24/7 Media, Bidland.com Join in Co-Marketing Alliance

Ad firm 24/7 Media on Tuesday teamed with Bidland.com in a co-marketing deal, and took a $3 million equity stake in the online auction provider.

The alliance calls for Bidland.com, which builds online auctions for Internet sites, and 24/7 Media (TFSM) to cross-sell one another's services. Bidland.com will suggest that its lients use 24/7 Media to drive traffic to their new online auction sites, and 24/7 Media will market online auctions to the sites that use its advertising and marketing services.

"24/7 Media opens a floodgate of potential customers for our businesses' auctions," said Doug Augustine, chief executive officer and co-founder of Bidland.com.

"The partnership also gives us immediate access to leading data mining and profiling technologies, as well as a variety of other marketing capabilities."

24/7 Media has lately been on an acquisition spree, buying e-mail marketer Exactis.com and promotions firm AwardTrack, adding new product lines to offer its clients. The deal with, and investment in, Bidland.com represents another move by 24/7 Media to expand its capabilities.