Capital to Fund Global Ad Network's North American Expansion, Technology
Development and Strategic Acquisitions
NEW YORK, Feb. 25 /PRNewswire/ -- Adconion Media Group, the global
independent online advertising network which has established operations in
three North American markets, today announced it has closed an $80 million
Series C round of funding led by Index Ventures and existing investor
Wellington Partners, the largest European internet media venture investment
in history and among the largest for an independent online ad network.
In recent months, three year-old Adconion, which has existing
operations throughout Europe and Australia, has assembled its North
American management team from a roster of industry veterans responsible for
creating and managing some of the world's most-recognized Internet
advertising companies including DoubleClick, MSN, Yahoo, IAC and Avenue A
(now Avenue A/Razorfish). Adconion CEO and Founder, Tyler Moebius was
himself a Series A investor and early employee of Avenue A. An undisclosed
minority percentage of the total capital raised during this $80M round will
fund Adconion's continued global expansion throughout North America and
Asia.
The strategic decision by Index Ventures, which counts Skype, MySQL,
Last.fm, Netvibes, Joost and Spot Runner among its portfolio of successful
technology companies, to invest in Adconion was informed by the company's
unique value proposition to marketers seeking not only domestic, but global
ad distribution through a single, independent network that reaches nearly
200 million unique Internet users worldwide (ComScore January 2008).
"At the risk of sounding cliche, the modern business landscape is
irrefutably global in scale and that is due primarily to the opportunities
created by the Internet," said 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 generous investment from Index and Wellington
will position Adconion alongside the portals on marketer's short-lists for
global distribution partners."
"Adconion has the relationships, the industry expertise and the
best-in- class technology becoming of a future market leader in
technology's hottest growth sector," said Dom Vidal, Partner, Index
Ventures. "Our experience as investors in the advertising space enables us
to support Adconion in continuing its rapid expansion throughout North
America and to further build its global presence."
"Tyler and his team have done an outstanding job building a truly
global online advertising network," said Frank Boehnke, 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."
About Adconion
Adconion Media Group is an international, independent Advertising
Network. Since its founding in 2005 the company has focused on the
realization of performance-driven branding campaigns that deliver massive
global reach. Adconion's clients consist of advertising agencies and direct
advertisers as well as its partner base of premium websites from a wide
range of sectors. Adconion combines its in-house technology and high touch
client service with quality media to exceed its partners campaign
objectives. Adconion has offices around the world in London, Munich,
Hamburg, Paris, Melbourne, Sydney, New York, Toronto and Santa Monica.
Adconion is member of the International Advertising Bureau (IAB) and a
founding member of IASH Europe. Visit Adconion at http://www.adconion.com.
About Index Ventures
Index Ventures is a leading European venture capital firm active in
technology venture investing since 1996. The firm is dedicated to helping
top entrepreneurial teams in the Information Technology and Life Science
sectors build their companies into market defining global leaders. The firm
has offices in Geneva, London and Jersey and focuses on investments from
seed through growth stage companies. Recent exits include Skype (the
pioneering communications company acquired by eBay); MySQL (the world's
most popular open source database recently acquired by Sun), Last.fm (the
world's largest social music platform, recently acquired by CBS) and
BioXell (BIOX, floated on the SWX in 2007). For more information, please
visit http://www.indexventures.com.
About Wellington Partners
Wellington Partners ranks among the most successful pan-European
venture capital firms. With 800 million euro under management and offices
in London, Munich and Zurich, the firm invests into opportunities
throughout Europe that have the potential to become global leaders, mainly
in the areas of Information Technology, Media Convergence and Life Science.
Wellington Partners has invested in more than 100 companies in Europe and
Israel, including now publicly traded Actelion, SAF and XING, successful
privately held companies like Alando (acquired by eBay) and
ImmobilienScout24 (acquired by Deutsche Telekom) as well as current
portfolio companies like Adconion Astaro, Questico and Truphone. For more
information, please visit http://www.wellington-partners.com.
SOURCE Adconion Media Group
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Related links:
http://www.adconion.com
http://www.indexventures.com
http://www.wellington-partners.com
CONTACT:
Alexander Gordon of CJP Communications,
+1-212-279-3115, Ext. 215, agordon@cjpcom.com, for Adconion Media
Group
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