Ronning Lipset Radio Acquired By TargetSpot
October 15, 2008 at 5:21 AM (PT)
TARGETSPOT, the CBS-funded online streaming media ad targeting firm, has acquired RONNING LIPSET RADIO, an online radio advertising representation firm, and claims it is the largest online radio advertising network. The price was not disclosed, reports the NEW YORK TIMES.
"There are really only two businesses out there offering this type of service, and now we’ve come together and established ourselves as the leader in the space, unquestionably," said TARGETSPOT CEO DOUG PERLSON. Look for ERIC RONNING and ANDY LIPSET to become a part of TARGETSPOT's management structure as co-Presidents of Sales.
TARGETSPOT's service allows anyone to buy audio and visual ad space on its website, to be played on the 600 online radio sites in its network. RONNING LIPSET has been selling ads for Internet radio companies like YAHOO, LIVE363, AOL and CBS.
Earlier this year, TARGETSPOT was tapped to provide the end-to-end marketplace for advertisers for the merged CBS RADIO-AOL internet radio network. NYC-based TARGETSPOT has raised two rounds of funding previously, from BAIN CAPITAL VENTURES, UNION SQUARE VENTURES, CBS RADIO and web animation company ODDCAST, among others.