New York — Having just finalized the AdMob acquisition, and the difficulties Google faced for its approval from the FTC apparently did not discouraged the company to give up on a similar purchase. According to Peter Kafka at MediaMemo, search engine titan Google is back on a shopping spree and snaffled up startup called Invite Media, which deals in advertising tech, and the deal is valued at around $70 million and the company will remain autonomous for the immediate future.
Both Google and Invite Media have yet to confirm the transaction, but according to various sources familiar with the move tells All Things Digital that it is a done deal. And even if Google does acquire the company, the search engine leader is apparently planning to keep the company running as a standalone until current client contracts expire because, like most other DSPs, it lets its users navigate multiple ad exchanges.
The company is a “demand side platform” (DSP) that serves ad buyers navigate advertising exchanges like Google’s AdX service. It offers an exchange for not only Google’s AdSense and DoubleClick, but also for competitors like Yahoo and Microsoft and smaller ad networks like Adbrite.
Invite Media’s specialty includes display media, and as its homepage makes clear, it operates a “universal buying platform” for display advertising called Bid Manager. The service empowers advertisers to manage their campaigns across several ad-exchange networks including Google’s own Ad Exchange, but it also functions with competing services like Microsoft’s AdECN, Yahoo’s Right Media, and OpenX.
Significantly, it sits right atop the food chain and the product appeals more to big advertisers who need real-time data and easy ways to quickly shift ad inventory. Eventually, Google plans to incorporate Invite Media with its DoubleClick for Advertisers ad-serving technology. Although it would not compel users to use DoubleClick, but Google will make sure the services work together seamlessly.
Another curious fact: Invite Media is quite noiseless for an advertising company, considering the last corporate tweet was made on May 11th and the only official blog post dates from November 26th. It is anybody’s guess then whether the firm has been tied up in negotiations, working on top-secret projects, or is just low on writers.
Before Google bought it and for the immediate future, Bid Manager offered the following services, according to InviteMedia.com:
- Automatically buy from multiple ad exchanges in real-time, all through the same interface.
- Take the keys and build your own exchange practice.
- Use Bid Manager’s built-in real-time optimization system to maximize performance.
- Work with our in-house platform and managed services teams to build best practices.
- Solutions for both agencies and ad networks.
The Philadelphia, PA-based Invite Media previously raised an undisclosed amount of seed funding from First Round Capital, Genacast Ventures, Creative Commerce, and Comcast Interactive Capital. Investors certainly made back their money, according to sources close to the company, but they also expected the company to sell for more than $70 million.