Technology

Google offers $400 mn to buy out AdMeld

MUMBAI: Google is in talks to buy New York-based display advertising company, AdMeld, for $400 million.


While giving a keynote at the Interactive Advertising Bureau’s Internet Week event recently, Google’s vice president of display advertising Neal Mohan had emphasized the importance of display advertising, which he believed could grow to be a $200 billion industry.
 
“We’re at the beginning of a user-focused revolution, where people connect and respond to display ads in ways we’ve never seen before,” Mohan wrote in his blog.
 
Last February Google showed its intention to buy Admeld but talks broke down over price. Google’s offer to spend $150-$200 million on the acquisition of Admeld was thrashed because the advertising company thought that the price was too low.
Launched in 2007, Admeld is run by Michael Barrett, former chief revenue officer for Fox Interactive Media. It has raised $30 million in venture capital from Foundry Group, Spark Capital, Norwest Venture Partners and Time Warner Investments.
 
 

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