TargetSpot Gets Funding; Names Doug Perlson CEO
April 24, 2007 at 8:38 AM (PT)
TARGETSPOT INC., an ad-serving technology and marketplace for advertisers and Internet broadcasters, announced today it has received funding from UNION SQUARE VENTURES, CBS RADIO and ODDCAST INC. and introduced DOUG PERLSON as its CEO/Co-Founder.
TARGETSPOT’s technology allows businesses and individuals to create, buy and place their own advertising messages within streaming media. In addition to its investment, CBS RADIO will utilize the technology on its more than 100 Music, Talk, Sports and News radio stations broadcasting live online. Additionally, TARGETSPOT will offer a solution for streaming video advertising later this year.
With TARGETSPOT, advertisers can create customized audio, video, banner and text ads using an array of jingles, sound effects and visuals provided by TARGETSPOT. Clients can also upload their current creative directly into their web account. Ads are then targeted to a specific demographic, location and/or property. Campaign costs vary with advertising revenue being shared among TARGETSPOT and the participating broadcaster.
"This is the first platform to allow all businesses, regardless of size, to easily and cost-efficiently utilize streaming media advertising," said PERLSON. "TARGETSPOT democratizes what has traditionally been the domain of large advertisers with big creative budgets."
PERLSON joins TARGETSPOT after serving as COO of SEEVAST (formerly known as KANOODLE), the owner and operator of Internet-based marketing services businesses. Prior to that, he served as SVP/Partner Development & Operations at ABOUT.COM.
"DOUG has been building successful, innovative advertising networks and technology solutions for the past seven years, and we are very excited to have him lead the company," said FRED WILSON of UNION SQUARE VENTURES.