Online video advertising network SpotXchange announced today that it has raised an undisclosed amount in its first round of angel funding.
Investors include:
–> Alex Bogusky, Chief Creative Officer, Crispin Porter + Bogusky
–> Laurence Chang, former Portfolio Manager, Janus Worldwide Fund
–> Tim Hudner, former Chief Operations and Chief Technology Officer, Janus Capital Group
–> Mike Lu, former Portfolio Manager, Janus Global Technology Fund
–> Kent Moore, former Portfolio Manager, Janus Capital Group and Senior Analyst/Portfolio Manager Marsico Capital
–> Blaine Rollins, former Portfolio Manager, Janus Fund
–> Claire Young, former Portfolio Manager, Janus Olympus Fund
“To date SpotXchange has been funded by Booyah Networks’ operating proceeds,” said SpotXchange President and CEO Michael Shehan. “However, it was important to energize our 2008 operating plan with additional funds from strategic investors. This allows us to open additional offices, expand our business development team and develop additional functionality in the platform including new ad units.”
“I’m excited to be involved. Video advertising is just beginning to take its rightful place online,” said Alex Bogusky. “Previously the tools just haven’t existed. SpotXchange offers a powerful platform that allows media buyers to manage the performance and reach of their buy in real time instead of getting bogged down in the minutia of setting up an ala carte ad
buy.”
Based in Colorado and launched in November 2006, the SpotXchange online video advertising network allows advertisers and publishers to buy and sell online video advertising in a true, real-time auction marketplace. The patent-pending technology takes the best practices in sponsored search-self-service tools, free market bidding, precision targeting,
transparent reporting, real-time tracking and optimization-and applies those tools to a comprehensive marketplace of online video ad inventory. The marketplace currently represents over one billion monthly impressions.
About SpotXchange
The SpotXchange patent-pending online video advertising platform received the 2007 Streaming Media’s Readers’ Choice Award for BEST VIDEO AD PLATFORM. The company was spun off from Colorado-based digital marketing and technology company, Booyah Networks in March 2007. Booyah Networks ranked 23rd on the 2006 Inc. 500. Clients and partners include Voxant, Blinkx, Internap, LiveVideo.com, NeoEdge, United Press International and others. For further information go to: http://www.spotxchange.com
