Product category:
Online ad campaigns
News Release from: Adconion
Edited by the Marketingservicestalk Editorial
Team on 27 February 2008
Adconion Media receives investment of
$80m
Adconion Media Group, Munich, one of the world's fastest-growing online advertising networks, has announced a GBP40.9 million (US$80 million) Series C round of venture funding.
The financing is the largest online media venture investment in European history The investment was led by Index Ventures, joined by existing investor Wellington Partners, and represents the first investment made from Index's recently announced growth fund
This article was originally published on Marketingservicestalk on 5 Mar 2007 at 8.00am (UK)
Related stories
Coffee wholesaler launches retail website
The Fair Trade Coffee Company called in BeVivid to design and create its retail website in time for Fairtrade Fortnight.
Lucozade Sport shop boosts online sales by 300%
Digital communications agency Worth has successfully helped Lucozade Sport increase year-on-year online sales by 300%.
The capital will be used to continue expansion into Europe, US and Asia, strengthening the company's position as an independent player.
In addition, capital will be invested in Adconion's behavioural targeting technology and also to fund selected acquisitions.
Index's Dominique Vidal, former CEO of Yahoo! Europe, and Giuseppe Zocco, the firm's co-founder, will join Adconion's board of directors.
"Adconion has the relationships, the expertise and the best in class technology becoming of a future market-leader in technology's hottest growth sector," said Vidal of Index Ventures.
"Our experience as investors in the advertising space enables us to support Adconion in continuing its rapid expansion throughout Europe and North America and to further build its global presence.
"As online media becomes more fragmented and as agencies look for more independent partners for solutions, we believe ad networks like Adconion are perfectly positioned to capture more advertising spend".
"At the risk of sounding cliched, the modern business landscape is irrefutably global in scale and that is due primarily to the opportunities created by the Internet," said Adconion founder and CEO Tyler Moebius.
"Agencies choose to partner with Adconion because their clients are likely in a position where doing business internationally is either 'business as usual' or a strategic opportunity for growth.
"This substantial investment from Index and Wellington will position Adconion alongside the portals on marketers' short-lists for global distribution partners".
"Tyler and his team have done an outstanding job building a truly global online advertising network," said Frank Boehnke of Wellington Partners.
"We are very excited to continue to work with Tyler and Adconion on one of the most exciting growth stories in the global marketplace".
• Adconion: contact details and other news
• Email this article to a colleague
• Register for the free Marketingservicestalk email newsletter
• Marketingservicestalk Home Page
Search the Pro-Talk network of sites
