Glam, Adconion Secure Funding in Insecure Financial Environment
ADOTAS — Online ad network execs are still bringing home the bacon despite worries that the economy is hitting the skids. Glam Media and Adconion Media Group are leading the pack with significant new funding rounds announced today.
Glam, a network that targets women with its own sites and its online publishing partners, announced today that it raised $64.6 million from investors and secured an additional $20 million in debt. The equity-financing round is led by Hubert Burda Media, which publishes more than 260 magazines and invests in about 25 digital holdings. Hercules Technology Growth Capital is delivering the debt financing.
The new capital will fuel Glam’s global expansion in 2008 across new territories and categories, focusing on transforming brand display advertising online. The company will target display because revenue from banner ads and its ilk is quickly outpacing traditional sources of ad revenue like print and television, Glam says.
“Glam Media is ideally situated as an influential player in the emerging global digital media landscape,” said Samir Arora, chairman and CEO of Glam Media. “In 2007, Glam Media was the fastest-growing in comScore Media Metrix Top 50 properties, becoming the number one women’s property on the Web in the U.S. with unprecedented speed. With fragmentation increasing on the Web, our proven distributed media network model both supports our key publishers and is the optimal way to bring premium brand display advertisers to the Web.”
Adconion, an online ad network, plans to announce that it has closed an $80 million investment led by Index Ventures and Wellington Partners, the Wall Street Journal reports. London-based Adconion will use part of the funding to expand its operations stateside – the remainder will be used on new technology and acquisitions, the Journal writes.
Adconion partners with large publishers, advertisers and agencies to connect all parties on its ad network; the platform combines behavioral targeting, predictive optimization and media to sell ads that appear on north of 350 Web sites.
Networks like Glam and Adconion have a better shot at weathering a significant economic downturn because they’re specialty shops with distribution networks; goliath destinations like Yahoo, Google and MSN are left to lumber clumsily about while smaller, nimbler companies can react swiftly and accurately to consumer and client needs.
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