Monday, October 30, 2006
Giants of Advertising and Media invest in SpotRunner
Spot Runner today announced that WPP, CBS Corporation, Interpublic Group and other institutions have made equity investments in the company.
These strategic investments come from three of the world’s largest buyers and sellers of advertising. On the ad buying side, WPP manages approximately $50 billion of clients' budgets worldwide and Interpublic Group agencies serve more than 4,000 multinational, regional and local clients around the world.
The investments by Interpublic, CBS and WPP were part of Spot Runner’s recent $40 million investment round. The round also included investments from Allen & Company, Tudor Investment Corporation, Capital Research and Management, media executive Lachlan Murdoch and financier Vivi Nevo, as well as follow-on investments from Index Ventures and Battery Ventures.
Spot Runner is an Internet-based advertising agency that makes it fast, easy and affordable for local businesses to advertise on TV. Its approach to commercial production, media planning and media buying gives local businesses access to a powerful marketing tool that was previously out of their reach. The entire process is automated online, making it cost-effective for even the smallest of businesses to use.
See what is said about SpotRunner at Mashable! , Silicon Beat, SMLXL, and Hitchhikers Guide to 650.