Update: The buzz on Sand Hill Road these days is all about online advertising plays. Never mind the fact that most of the “online ad” business is living on scraps compared with the Godzilla-like Google (GOOG). The latest testimony to this craze: $23 million in new funding for AdBrite, a company started by Phil “Pud” Kaplan, well-known for his escapades and his iconic site, F–kedCompany.
PE Hub reports that the three-year-old AdBrite got cash from Sequoia Capital and their quasi-affiliate hedge fund, Artis Management. With this new infusion, the company has raised a total of $35 million. We suspect there may be more cash coming their way, as this round might not be closed just yet.
Adbrite issued a press release that lists DAG Ventures and Mitsui Ventures as new investors. BritePic, Full Page Ad, and Facebook App Channel – have fueled AdBrite’s rapid growth, Ignacio Fanlo, CEO of AdBrite said and claimed that company was the third largest ad-network behind Google and Advertising.com. The round the company says is closed at $23 million.
3 trackbacks so far
12:25 PM PT
[...] Om Malik thinks that the round might not be finished yet, and I have no reason to doubt his intuition. Particularly [...]
2:22 PM PT
[...] an Internet advertising company, has raised $23,000,000 according to PaidContent.org. Om Malik is saying it’s probably not the last infusion. The company raised $4 million in 2004 and $6 [...]
5:34 PM PT
[...] today in the venture capital space is AdBrite raising a new round of $23 million reports PE Hub. Om also believes there is more coming within the [...]
4 comments so far
1:04 PM PT
Om,
Enjoy your opinions, as always. But, I’d like to address your comment:
“Never mind the fact that most of the “online ad” business is living on scraps compared with the Godzilla-like Google (GOOG).”
No doubt they’re the big player. They have done a tremendous job dominating in so many areas (perhaps phone service will be next?).
But, it doesn’t feel like we or others, such as AdBrite, are living on scraps. There’s plenty of opportunity still out there for everyone, advertising is still in its infancy online and the Googleplex - as it becomes more and more enormous - will continue to be challenged to stay ‘nimble’ in a rapidly evolving space.
All the best,
John Ebbert
ADSDAQ by ContextWeb
2:51 PM PT
As someone who works in internet marketing, I’d say that OM Malik’s assertion regarding Google is the honest-to-god reality.
Just in terms of practicality and usability, I think Google crushes Yahoo! and MSN - their supposed “big competitors”. Sure, there’s probably still business for the 2nd and 3rd tier & network engines like your AdBrites and Asks, but I just don’t see anyone touching Google’s search or ad spend numbers unless they shoot themselves in the foot.
11:15 AM PT
The two big start-ups to get bought: Right Media and Quigo. They were the blue chips plays. Seevast, ContextWeb, Specific Media and Tribal Fusion all missed the boat.
4:32 PM PT
Um…3rd largest Ad Network in the world? Seriously where is he getting these numbers?
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