Adknowledge Announces $48 Million Investment by Technology Crossover Ventures, Expands Management Team.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. -- Leading Provider of Online Marketing Technology for Small Businesses to Accelerate Market Expansion, Capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Growing Market for Online Advertising Adknowledge, Inc., a technology firm focused on helping small businesses better market to online consumers, announced today that it has sold a minority ownership interest to Technology Crossover Crossover The point on a stock chart when a security and an indicator intersect. Crossovers are used by technical analysts to aid in forecasting the future movements in the price of a stock. In most technical analysis models, a crossover is a signal to either buy or sell. Ventures (TCV TCV Total Contract Value TCV Tokyo City View TCV Treasury Corporation of Victoria (Australia) TCV Temperature Control Valve (Industrial control description) TCV Total Containment Vessel ) for $48 million. As part of the investment in Adknowledge, two TCV partners, Henry Feinberg and Will Griffith, will join the Adknowledge board of directors. Adknowledge, which has more than doubled its revenues each year since its founding in January 2004, will use the funding to accelerate its market expansion and position the company for an impressive future. The company is aligned to capitalize on the increasing demand for online advertising, which Jupiter Research(1) predicts will experience a compound annual growth rate of 9.6 percent over the next five years, generating $18.9 billion in 2010. "Out of all the firms we considered, TCV was our number one choice because of its specific focus and proven track record in late-stage technology company investments," said Scott Lynn, chief executive officer. "Throughout the diligence process, TCV began lining up several multi-million dollar relationships and discussing our strategic plans for 2006. The TCV team's insight and industry connections already are playing an important role in helping us to evolve our business for accelerated growth and market expansion." The TCV investment follows Adknowledge's recent recruitment of Brett Brewer to serve as the company's president and serve on its board of directors. Mr. Brewer was formerly president of Intermix in·ter·mix tr. & intr.v. in·ter·mixed, in·ter·mix·ing, in·ter·mix·es To mix or become mixed together. [Back-formation from obsolete intermixt, from Latin Media, the publicly traded parent of Myspace.com, which was sold last year to News Corporation for $673 million. Brewer stated, "Over the past several years, I've seen many companies that promised to target relevant advertising to consumers but only one that could deliver. Each day, Adknowledge matches small businesses - from eye surgeons to laminate laminate, n a thin slice of porcelain or plastic fabricated in a dental lab, which is cemented to the front of the teeth to cover gaps, whiten stained teeth, or reshape chipped or broken teeth. floor retailers - with consumers that have a high degree of purchasing propensity. The opportunity was too good to pass up and the match in partnering with TCV was obvious." Adknowledge was built on the premise of giving small businesses additional places to market online outside of major search engines. For example, in addition to purchasing the keyword "shoes" on Google, an online shoe retailer can purchase advertising in a "shoe" category through Adknowledge and have it syndicated within minutes to consumers whose online behaviors suggest they are interested in buying shoes. In addition to advertisers, Adknowledge provides a full-service solution to website owners seeking to boost their profitability by outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. their banner or email advertising sales. One of Adknowledge's differentiators is its ability to purchase, for a fixed rate, large amounts of ad inventory from online publishers under long-term contracts. As a result, these publishers are able to focus on their core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Henry Feinberg, TCV partner, noted, "Adknowledge is the only business we're aware of that is guaranteeing content publishers revenue for their ad space and serving thousands of highly targeted, relevant advertisers within more than 1,200 categories. The financial growth the business has experienced over the last two years and its prospects for the future are impressive. We're excited to be part of the team." Will Griffith, TCV partner, added, "Excluding the major search engines, Adknowledge is the one company that has achieved profitability by offering services that enable small business advertisers to deliver targeted ads to interested consumers. We view Adknowledge's business as the future model for successful online advertising and look forward to working with the Adknowledge team in realizing the company's full potential." About TCV Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to expansion, later-stage private, and public companies. TCV employs a crossover investment model, which combines venture capital with public market investing and enables TCV to continue to invest in its portfolio companies at the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and beyond. TCV has made investments in leading companies including Brightmail, CNET (body) CNET - Centre national d'Etudes des Telecommunications. The French national telecommunications research centre at Lannion. , eHarmony, Expedia, InPhonic, Netflix, RealNetworks, and Webroot. TCV has ten partners and is headquartered in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. . For more information about TCV, visit www.tcv.com. About Adknowledge Adknowledge, Inc., founded in 2004, was built on the premise of giving small businesses additional places to market online outside of major search engines. The company provides solutions based on cutting-edge behavioral behavioral pertaining to behavior. behavioral disorders see vice. behavioral seizure see psychomotor seizure. technology that results in more relevant ad placements. To date, more than 25,000 small business advertisers have used Adknowledge to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. their online advertising efforts using an easy-to-use auction model and tools that track and measure ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). . For online publishers, Adknowledge enables the ability to deliver relevant ads to their user base and receive industry-leading advertising rates. Adknowledge is headquartered in Kansas City, MO. For more information, visit www.adknowledge.com. (1)Jupiter Research, 2005, "US Online Advertising Forecast, 2005- 2010," August 5, 2005 |
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