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MediaPost: SpotXchange Secures Strategic Investment from Angel Investors

MediaPost, OnlineMediaDaily, News Brief, Friday, Feb 1, 2008 8:00 AM ET
ONLINE VIDEO ADVERTISING NETWORK SPOTXCHANGE announced that it has raised an undisclosed amount in its first round of angel funding.
Investors include: Alex Bogusky, Chief Creative Officer, Crispin Porter + Bogusky; Laurence Chang, former Portfolio Manager, Janus Worldwide Fund; Tim Hudner, former Chief Operations and Chief Technology Officer, Janus Capital Group; Mike Lu, former Portfolio Manager, Janus Global Technology Fund; Kent Moore, former Portfolio Manager, Janus Capital Group and Senior Analyst/Portfolio Manager Marsico Capital; Blaine Rollins, former Portfolio Manager, Janus Fund and Claire Young, former Portfolio Manager, Janus Olympus Fund.
"To date SpotXchange has been funded by Booyah Networks' operating proceeds,"said SpotXchange President and CEO Michael Shehan in a statement. "However, it was important to energize our 2008 operating plan with additional funds from strategic investors. This allows us to open additional offices, expand our business development team and develop additional functionality in the platform including new ad units."
Based in Colorado and launched in November 2006, the SpotXchange platform allows advertisers and publishers to buy and sell online video advertising in a true, real-time auction marketplace. The patent-pending technology takes the best practices in sponsored search-self-service tools, free market bidding, precision targeting, transparent reporting, real-time tracking and optimization--and applies those tools to a comprehensive marketplace of online video ad inventory. The marketplace currently represents over one billion monthly impressions.
--Tanya Irwin
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By On February 1, 2008
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