AfterDawn: Tech news

Google buys AdMeld for $400 million

Written by Andre Yoskowitz (Google+) @ 10 Jun 2011 13:36

Google buys AdMeld for $400 million Google has acquired the large advertising optimization platform for publishers AdMeld for $400 million in cash this week.
The company launched in 2007 with $30 million in venture capital.

Thanks to their initial investments, Foundry Group, Spark Capital, Norwest Venture Partners and Time Warner Investments are set to make a large windfall.

CEO Michael Barrett was fired in 2008 from News Corp., after he failed to get MySpace to an unreasonable $1 billion revenue target.

MySpace has since continued its decline, losing $165 million last year alone.

Tags: Google AdMeld
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