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.