Right Media Inc., creators of the Right Media Exchange, an open ad exchange, announced that Yahoo! has made a strategic investment to acquire a 20 percent stake in Right Media.
The company 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.
"Yahoo believes an open and transparent ad exchange is an innovative new distribution channel for non-premium inventory and encourages competition in the market," says 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."
Ads on the Right Media Exchange are auctioned in real-time to the highest bidder. Right Media Exchange says that more than two billion impressions are traded daily.
Michael Walrath, CEO and founder of Right Media, says, "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."
Additional resources:
See Brad Berens moderate the ad:tech New York panel: The Move to Auction-Based Media and the Demise of the Upfront, November 7