The investment will help TAN target travel advertising dollars and marketers who are seeking upscale consumers. TAN can deliver 12.5 million monthly unique visitors to advertisers through its partners. Among its 50-plus sites are BBC’s Lonely Planet and Rand McNally.
Habib Kairouz, managing partner at Rho Ventures, will join TAN’s board. So will Rho Ventures partner Doug McCormick, former CEO of Lifetime Networks and Chairman and CEO of iVillage. Another new board member is Benjamin Wolin, the co-founder and CEO of Waterfront Media, the largest privately held online health company. In the past year, the company said it surpassed Yahoo Travel in audience and launched its first video ad campaign. It also expanded to Canada and the United Kingdom.
Savvian Advisors served as the exclusive financial advisor to Travel Ad Network for the transaction. Travel Ad Network was founded in 2003 and is based in New York.