WPP sues TV ad company Spot Runner for “pump-and-dump scheme”
Update: Added the WPP complaint below.
Update II: Added letter from Spot Runner to employees, sent out Friday, below.
Spot Runner, the start-up Web company that lets advertisers places ads on TV, has been sued by one of its investors, WPP Group for securities fraud and breach of contract, AdAge reports.
WPP, one of the world’s largest advertising agencies, said Spot Runner’s executives aggressively promoted WPP’s investment in it to gain new investors and then sold large quantities… Continue Reading
Spot Runner is raising money at high valuation, announces political ads
Spot Runner, a company that gives local businesses an easy way to buy ads for TV programming, is getting so much interest from investors that its raising money at a valuation in the hundreds of millions of dollars.
We haven’t confirmed the exact planned valuation, but it so high, according to our sources, that early investor Battery Ventures has proposed to sell a portion of shares — enough so that it will reap the full… Continue Reading
Roundup: EBay’s Whitman to retire, Facebook-Nokia, Yahoo’s layoffs, more
1. EBay CEO Meg Whitman prepare to retire
2. Open Source revolution continues, with Intel
3. Microsoft purchases virtualization co., Calista
4. Cleverset, software recommendation co., sold
5. Yahoo has some small layoffs coming
6. Facebook-branded Nokia handsets?
7. LifeLock, anti-credit fraud co., gets $25M
8. Online ad co., Spotrunner, draws buzz
9. Jobs snubs both Amazon and Google
10. Coventi Pages gives up the ghost
11. Singapore opens search engine contest
EBay chief exec Meg Whitman is preparing to retire — Whitman, the most visible female… Continue Reading