AdFlight Secures $20 Million in Second Round Funding; Leading VC Firms Bullish on AdFlight's Online Advertising and Marketing Platform.

Business Editors

BELMONT, Calif.--(BUSINESS WIRE)--Sept. 6, 2000

AdFlight Inc., the Internet Advertising Marketplace, today announced the completion of a $20 million second round of venture capital funding. WorldView Technology Partners led the investment round with additional funding from existing venture partners Sierra Ventures and Sienna Holdings. This strong vote of confidence from this group of established Silicon Valley VCs affirms AdFlight's unique online advertising and marketing platform and business model, while further validating the explosive growth of the online advertising market.

Worldwide online advertising revenue is expected to reach $28 billion by 2005 according to Jupiter Communications, Inc. A Jupiter executive survey found that marketers plan to increase Internet advertising spending at a higher rate than in any other medium; approximately 73 per cent of advertisers said they would increase their online advertising spending in the next 12 months.

"AdFlight is the only company we've seen that puts the Internet into online advertising," commented Ajit Shah, General Partner at WorldView Technology Partners. "Other online advertisers today still follow the traditional advertising model and are dependent on a large services group. AdFlight has a self-service online engine that enables small, medium and large businesses -- both publishers and advertisers -- to take advantage of the high-growth online advertising market."

AdFlight will use this additional funding to fuel a global expansion into the European and Asian markets, increase marketing activities, and further develop technology that will extend AdFlight's leadership and grow its presence in the online advertising industry. To fulfill its worldwide expansion plans, AdFlight will be growing its presence in Japan and Asia as well as Northern Europe. According to Lehman Brothers, Internet advertising revenues in Asia will be worth USD $5.4 billion in 2005, compared with USD $344 million now, while Asian consumer spending online will be worth USD $57 billion in 2003. The June 2000 eMarketer Report stated that Europe is the next frontier for online advertising growth with its e-commerce revenues exploding from $16.81 billion in 1999 to $425.5 billion by 2003. AdFlight will aggressively pursue the growth potential in these markets.

"AdFlight is one of the fastest-growing companies in online advertising with revenues increasing over 200% during consecutive quarters this year," said Albert Lopez, AdFlight's president and CEO. "We are breaking down barriers with an efficient and accessible marketplace that democratizes Internet advertising and marketing for businesses of all sizes. Now, with our expansion into Asia and Europe, our unique benefits will reach the global market. WorldView Technology Partner's unique strength in global infrastructure will be a great asset in fulfilling these initiatives".

AdFlight, Inc. offers Internet-based online advertising and marketing services to businesses of all sizes. The company provides intelligent and valuable online transactions between publishers and marketers through its self-service, optimization platform that allows participating parties to select targeted categories, buy online advertising, execute campaigns, analyze results and improve campaign allocation in real-time.

From January to May 2000 AdFlight increased the number of served banner ad impressions by 278%. Today, over 3,500 registered advertisers and publishers use AdFlight's technology and services.

About WorldView Technology Partners

WorldView Technology Partners is an established venture capital firm with a strong track record of investing in and helping build leading U.S. information technology companies. They add significant value to their portfolio companies through active participation and their proven ability to help U.S. entrepreneurs successfully expand their businesses into global markets.

About AdFlight, Inc.

AdFlight Inc. has created a new, more efficient model for the deployment of Internet-based advertising called the Internet Advertising Marketplace. AdFlight delivers Internet marketing technology and services to businesses of all sizes, and is especially focused on delivering benefit to small and mid-size businesses. AdFlight provides intelligent and valuable online exchanges between publishers and marketers through use of a self-service, optimization platform that allows participating parties to buy based on targeted categories, execute campaigns, analyze results and refine online advertising in real-time. For further information, please visit www.AdFlight.com.