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The 40M Dollar Investment to Change Television Advertising

While Mike Arrington and Co. was bickering over PayPerPost and Blogola, he failed to cover what I consider huge news for the blogosphere and for the entire new media industry.

SpotRunner has taken 40M dollars in funding from various parties including CBS. I see this as a huge development that companies should take seriously. It’s becoming more and more of a reality for small businesses to place local television ads. Even small web based startups.

Why?

Because of companies like SpotRunner and Google’s Demarc Acquisition

So What is Spotrunner?

logo sr The 40M Dollar Investment to Change Television Advertising

However you want to describe what they do — local TV buying platform, small business ad agency, geotargeted video advertising – Spot Runner is on a roll. The company just closed a $40 million round that includes mega-ad/marketing agencies Interpublic (IPG) and WPP, as well as CBS. Also involved were Allen & Company, Tudor Investments, Capital Research and Management, individual investors Lachlan Murdoch and Vivi Nevo, and original Spot Runner investors Index Ventures and Battery Ventures.

SpotRunner, has been developing geotargeting for franchises and national businesses (for local broadcast and cable), as well as selling locally targeted TV campaigns directly to small businesses. Most recently the company announced a partnership with agency JWT (part of new investor WPP).

According to co-founder David Waxman, this investment reflects how complementary Spot Runner’s capabilities are to national branding campaigns run by these major agencies. “This is about helping brands with their local programs.”

According to the press release:

* WPP plans to use Spot Runner’s web-based platform to help clients target ads across all media channels more effectively at the local level, while maintaining a consistent brand message.
* IPG views this relationship as an opportunity to add another dimension to its market-leading local, direct response and hyper-targeted communications solutions.
* For CBS Corporation, which has offerings in the television, radio, Internet, outdoor and publishing segments, Spot Runner’s innovative technology offers a more efficient and consolidated system to sell its diverse ad inventory and an additional channel to bring new local advertisers to its media properties.

Hat Tip: Screenwerk

To read the full Press Release
on the investment. check out Business Wire.


85x10 digg link The 40M Dollar Investment to Change Television Advertising

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One lonesome reply...

  1. 4-m will done to them we do need to see more businesses getting into the global area and video, social networks and blogs seems to be the best way to advertise these days.

    By Premium Financing on May 16, 2008 8:30 pm

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