If you’re not reaching, engaging, and monetizing customers on mobile, you’re likely losing them to someone else. Register now for the 8th annual MobileBeat
, July 13-14, where the best and brightest will be exploring the latest strategies and tactics in the mobile space.
Google has reportedly purchased the startup Invite Media for around $70 million, according to All Things Digital. The company is a “demand side platform” (DSP) that helps ad buyers navigate advertising exchanges like Google’s AdX service.
Both Google and Invite Media have yet to confirm the news, but “multiple sources” tell All Things Digital that it’s a done deal. Google is apparently planning to keep the company running as a standalone unit because, like most other DSPs, it lets its users navigate multiple ad exchanges. So in addition to Google’s AdX, it will continue to work with competing services like Microsoft’s AdECN, Yahoo’s Right Media, and OpenX.
Eventually, Google will integrate Invite with its DoubleClick for Advertisers ad-serving technology. It won’t force users to use DoubleClick, but Google will make sure the services work together seamlessly.
The news also doesn’t bode well for DSP competitors like MediaMath, who may now be valued less than investors anticipated and can no longer look forward to being purchased by Google.
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.