Time Warner Drops Money On ScanScout


losingmoney.jpgScanScout, a video ad site made an announcement today that said the Time Warner Company has made a large investment in the firm.

Members from Time Warner, Digitas, venture capital partners from General Catalyst and First Round Capital will be joining the board of directors and the executive team of ScanScout.

Time Warner senior vice president, Rachel Lam will be elected board observer should the deal go through. Lam stated, “With video becoming an ever more prominent part of content strategies on destination sites, we see ScanScout and their contextual, in-stream advertising capabilities positioning them extremely well to address both advertiser and publisher needs.”

Jim Rossman, Digitas COO and Paul Vidich, a former AOL and Warner Music Group executive are joining as independent members.

The company initially raised $7 million in expansion funds from General Catalyst as well private investors.


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