RealTime IT News

Media Marketplace AdExchange.com Attracts idealab! Funding

Looks like the advertising industry B2B exchange business is about to get even more crowded, as AdExchange.com this week declared its intentions to launch in June, trumpeting its big-name backers -- idealab! Capital Partners, Palomar Ventures and TD Capital.

In recent weeks, the number of players stepping up to compete in this space has grown dramatically. AdAuction.com is re-branding itself as One Media Place, and is reported to be taking an investment from or being acquired by powerhouse holding company CMGI. AdOutlet.com recently scored $25 million in venture financing. A group of ad industry veterans, with backing from a McCann-Erickson Worldwide firm, have announced plans to launch Media Market Makers. And a host of other players aim to be contenders in the space, as well.

AdExchange.com plans to start by offering the buying and selling of online media, then expand to television, print, radio, and outdoor advertising.

In such a crowded field, this new venture is touting its technology, built in partnership with Computer Sciences Corp., as a differentiating factor.

"Current industry offerings tend to devalue online advertising and do not fully serve the needs of the buyers and sellers leading the market," says Paul Grand, chief executive officer of AdExchange.com.

"AdExchange was built from the ground up to be a solution that can achieve the phenomenal growth predicted, while preserving the value of the media and the relationships between buyers and sellers."

Grand co-founded Digital Planet, which was bought by iXL, and founded NetCount, an Internet advertising measurement firm, which was acquired by Internet Profiles Corp.

AdExchange.com co-founder Kent Valandra, who is executive vice president of business development, was executive vice president and general manager of new media at Western Media before joining the new venture.