OneMediaPlace — formerly
Adauction.com — this week secured $67 million in private investment
financing led by CMGI @Ventures.
“We see this partnership as an opportunity to broaden our product
With over 70 firms in its fleet, CMGI has slowed its acquisition pace in
Media firms PRIMEDIA , Liberty Media
, and the French investor Artemis were the benefactors for the
advertising marketplace. CMGI @Ventures first infused
OneMediaPlace with $25 million in April.
Funding will be used to develop OneMediaPlace as the leading global
electronic media market place. OneMediaPlace combines a resource destination
with a global, media marketplace operating system.
This partnership investment is a companion deal to the first joint effort
made by the newly formed alliances created by CMGI and
Liberty Media’s who each grabbed a 5 percent stake in PRIMEDIA last March.
“The OneMediaPlace strategy and platform are well-suited to facilitate
incremental advertising revenue opportunities for a number of our niche
media products,” said Tom Rogers, chairman and chief executive officer of
PRIMEDIA.
offerings to both the current advertisers as well as a tool to develop
broader advertising relationships.”
recent months, settling for a series of infusions in recent months. In
February, CMGI took a 5 percent slice indivine Interventures Inc.
Last month, CMGI led Sun Microsystems Inc.
and Novell Inc.
in a joint venture to supply network services to Web
sites and to application and Internet providers.
