Press Release |
Press Release |
Press Release |
SUNNYVALE, Calif. & NEW YORK, Oct 17, 2006 (BUSINESS WIRE) -- Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, and Right Media Inc., creator of the Right Media Exchange, today announced that Yahoo! has made a strategic investment to acquire a twenty percent stake in Right Media. Yahoo! will also join the Right Media Exchange to offer advertisers the ability to bid on Yahoo!'s non-premium inventory through an open and transparent marketplace.
"Yahoo! believes an open and transparent ad exchange is an innovative new distribution channel for non-premium inventory and encourages competition in the market," said Greg Coleman, executive vice president, global media sales, Yahoo!. "Participating in Right Media's leading exchange is consistent with our strategy to extend Yahoo!'s audience to additional marketers, and to help them deliver the right ad to the right person at the right time."
Every ad on the Right Media Exchange is auctioned in real-time to the highest bidder, giving participants equal access to media in an open, fair market, and enabling competition to drive more value for both sides of every transaction. More than two billion impressions are traded daily on the Right Media Exchange. The Right Media Exchange is open to all advertisers, publishers and ad networks.
"We're thrilled to have Yahoo! as a partner and as a participant in the Right Media Exchange," said Michael Walrath, CEO and founder of Right Media. "Right Media has grown through partnerships with key stakeholders in this industry and all participants at the exchange benefit from the addition of companies like Yahoo! that share our vision of more efficiency, transparency and accountability in online advertising."
Right Media raised a total of $45 million in Series B financing, led by Yahoo! and including Redpoint Ventures and other existing investors. As part of the investment, Yahoo! will designate a member to Right Media's board of directors.
About Right Media
Right Media created an open media exchange to bring more efficiency, value and standardization to interactive advertising. The Right Media Exchange includes more than 11,000 buyers and sellers trading digital media through the company's open, transparent platform. Right Media offers a range of solutions that help these businesses operate more efficiently -- from simple exchange access to white label sales programs. Founded in 2003, the company is privately funded and based in New York.
About Yahoo!
Yahoo! Inc. is a leading Internet brand globally and one of the most trafficked Internet destinations worldwide. Yahoo! seeks to provide online products and services essential to consumers' lives, and offers a full range of tools and marketing solutions for businesses to connect with Internet users around the world. Yahoo! is headquartered in Sunnyvale, Calif.
Yahoo! and the Yahoo! logos are trademarks and/or registered trademarks of Yahoo! Inc.
All other names are trademarks and/or registered trademarks of their respective owners.
SOURCE: Yahoo! Inc.
Yahoo! Nissa Anklesaria, 408-349-2824 nissa@yahoo-inc.com or Fleishman-Hillard (for Yahoo!) Ed Bryson, 214-665-1328 brysone@fleishman.com or The Horn Group (for Right Media) Anthony Loredo, 646-688-0580 aloredo@horngroup.com
Copyright Business Wire 2006
News Provided by COMTEX