Business Services Industry
AdAuction revamps for one-stop ad buys;with $25 million in funding and a new name, exchange hopes to redefine media buys .(Brief Article)
B to B, May, 2000 by FROOK, JOHN EVAN
Media buyers are not immune to the advent of trading exchanges.
OneMediaPlace, San Francisco, has set its sights on reshaping the often arcane and relationship-based media buying industry through an Internet trading exchange. The company, formerly AdAuction.com, on April 24 landed $25 million in venture funding from b-to-b powerhouse CMGI Inc., and changed its name to reflect the broad market it hopes to serve.
In making the moves, OneMediaPlace is expanding its focus. AdAuction.com, launched in 1997, was primarily an Internet site where media buyers could bid on remnant print, Internet and outdoor advertising. The renamed company will put its resources to bear on a one-stop media buying site, where prime-time radio and TV spots can be sold just as...
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