Adauction.com Launches an Instant Buy Service
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San Francisco-based Adauction.com launched a new service called Opportunity Exchange, which offers ad inventory 24 hours a day, seven days per week, and allows advertisers to instantly purchase ad lots on a cash- and-carry basis.
Opportunity Exchange complements the company's existing MarketPlace and Tune- In auction services, where Web ad inventory is sold to the highest bidder. Featured companies on the new service include Yahoo! and Lovingyou.com.
The company also introduced ProxyMan, a feature that enables media buyers to automatically bid on ad inventory without having to monitor the auction.
"We're responding to our advertisers' and publishers' need for more flexibility because both parties' schedules to buy and sell don't always fit with the monthly auction calendar, especially for international buyers and those located in different time zones," said Adauction.com President and CEO David Wamsley. Adauction.com now claims a base of 2,200 media buyers.
ProxyMan allows buyers to define a maximum price for specific inventory without divulging what that amount is to other bidders. ProxyMan will then automatically bid on the advertiser's behalf at the minimum price necessary to compete against other buyers. If another bid exceeds the maximum amount specified, buyers using ProxyMan are no longer committed to purchasing the ad inventory and will be notified via e-mail that they have been outbid.