Lijit Rakes in $7.1M To Launch Ad Network
ADOTAS – Lijit Networks, Inc., provider of search-powered apps for publishers and publisher networks, has closed a $7.1 million series C round of financing led by Foundry Group. Existing investors, Boulder Ventures and Colorado Fund I, managed by High Country Venture, also participated in the round.
Lijit said it will use the proceeds from this financing to launch its search-powered ad network — designed for publishers that want to sell their own search ad inventory — as well as to expand its offices and employee base.
The company has said that Lijit offers a unique way to encourage engagement with users. Lijit recently concluded a detailed analysis of how its search-powered applications generate value for networks of publishers.
In partnership with b5media, Lijit installed its search application across all sites in the b5media network, then compared the performance of b5media’s standard search box against Lijit’s search application. Lijit’s search produced three times the search traffic of the standard search box.
“More searches and more clicks in search results equal more reader engagement,” Jeremy Wright, CEO of b5media, said. In addition, 26% of search result clicks drove traffic to other b5media publications in the same channel, allowing high-profile publications in the network to introduce readers to newer, lower-traffic publications, thereby boosting traffic across the entire network.
Lijit was incorporated in June of 2006 and has now raised about $11.3 million.
Article Sponsor
More News
Reader Comments.
No comments yet
Leave a Comment
Features
- With Ads, Pretty Is as Pretty Does November 21st 2008
- Holiday Hootenanny: Win the Ad WAR November 20th 2008
- When Boomers, Gen Y Collide November 20th 2008
- How Google Is Jeopardizing Search Biz November 19th 2008
- Click Fraud To Shape Ad Decisions in 2009 November 18th 2008
Latest News
- Goodmail Reels in $20M November 21st 2008
- Yahoo Sells Off Shopping Site at Discount November 21st 2008
- Paper-Loving Paramount Goes Digi November 21st 2008
- Google Personalizes Search Results November 21st 2008
- Verizon Staff Hacked Into Old Obama Account November 21st 2008
- IAB: Q3 Raked in $5.9B November 21st 2008
- Ad Spend Forecast Down Overall, Online Safe for Now November 20th 2008
- Will Bandwidth Limits Kill the Video Ad? November 20th 2008
Spotlight
Turn VP: Ad Network Shakeout “Inevitable”ADOTAS EXCLUSIVE – Turn bills itself as the world’s first Smart Market for online advertising. Turn’s VP of product and [...] more...
Reader Favorites
Classifieds
Most Commented
- Targeting Is the Ad Network "Killer App" (7)
- Study: Blogs Beat Social Networks on Purchase Influence (5)
- Vengence is Mine Saith Ballmer (4)
- Marketing Secrets of an Online “Lurker” (3)
- Self-Serve Ad Exchange: This Century's Strowger Switch? (3)
- Federal Bailout Proposed for Online Ad Industry (3)
- What Obama's Win Means for Advertisers (3)
- The Coming eRevolution in Online Marketing (2)
