Online Media Company to Propel Glam’s Position in the UK Brand Display Advertising Market
BRISBANE, CA and NEW YORK, June 17, 2008—Mode Media Corporation., (corp.mode.com), the pioneer of vertical content networks and number one in reach for women online with 42 million uniques in the U.S., today announced the acquisition of Monetise Limited, one of the fastest growing online media sales companies in the UK. Financial terms were not disclosed. With the integration of Monetise, Mode Media is in a position to be a leader of the UK online brand advertising market. Founded three years ago, Monetise has built a growing and profitable business representing key properties in the UK market—including Flixster.com, TVGuide.co.uk, and ARTISTdirect.com—and and is the leading online media sales player in the UK online entertainment market.
“The acquisition of Monetise speeds our entry into the important UK display ad market,” said Samir Arora, chairman and CEO of Mode Media. “Monetise has strong relationships with London advertising agencies and enables Glam to immediately increase its reach in the UK market. In addition, Monetise extends our technology platform which allows us to expand our services in the region.”
Rapid growth in display advertising is escalating the demand for targeted premium content from vertical content networks like Mode Media. According to a recent study by the IAB in the UK, sales houses and networks are responsible for growing and monetizing the long tail of Internet sites, accounting for 40% of display advertising in 2007. Mode Media’s vertical network connects branded display advertisers with the online audiences of 500+ sites in the Glam Publisher Network. Glam’s network today spans five verticals, including Style–Fashion & Beauty; Living; Entertainment; Health & Wellness and Family.
Monetise enables agencies to create and deploy successful and innovative brand advertising campaigns on its select portfolio of Entertainment sites. As the U.K’s leader in the digital entertainment market with more than seven million uniques, with more than seven million uniques and representing great brands such as Flixster, ARTISTDirect and TVGuide.co.uk, Monetise delivers enhanced revenue and services for its publishers. Monetise publishers will become the flagship sites of Mode Media’s UK Entertainment vertical and will continue to benefit from a full range of publisher and advertising services.
Says Joel Cymberg, co-founder and CEO of Monetise, “In the past year, Monetise has emerged as one of the fastest growing online media companies, serving a group of premium digital publishers. By combining our capabilities with Mode Media’s publisher and advertiser relationships, and vast audience reach, we will deliver an unmatched offering to the UK market.”
“We have had a great experience working with Monetise, and their knowledge of the UK market is excellent,” said Steve Polsky, President and COO of Flixster. “They have helped us build the Flixster brand with key UK advertisers. We are excited to see them join Mode Media. It is an endorsement of all of the great work they have been doing.”
Monetise’s founders and employees are joining the Mode Media UK team. Joel Cymberg, co-founder and CEO of Monetise is now Mode Media’s Publisher Management and Operations Director, and will ensure the successful growth of the company’s operations and relationship with key publishers in the UK. Prior to Monetise, Joel founded a variety of rich media technology companies, including First~Media, Digistream and Clipstream. Joel has a financial background; he was formerly a principal at Grenadier Capital, a corporate finance boutique firm, and has worked for RAD Investment Bank, Grant Thornton Corporate Finance and Nikko Securities. Joel holds an MBA from Manchester Business School.
Jon Walsh, co-founder and Sales Director at Monetise, is joining Mode Media as Mode Media Entertainment Sales Director. Mr. Walsh has more than eight years of digital media sales experience, having worked on sites such as Friendsreunited, Multimap, Setanta Sports and Oli.co.uk.
About Mode Media
Mode Media pioneered the vertical content network model and is the fastest growing Top 20 Media Company in the U.S. With a total reach of 42 million unique monthly visitors in the U.S. (comScore Media Metrix) and an estimated 75 million global uniques, Mode Media provides a compelling mix of fresh, original content created in-house on its owned & operated web sites and the carefully curated Glam Publishing Network of more than 500 popular and influential lifestyle Web sites, blogs and magazines. For premium national brand advertisers, Mode Media offers an unprecedented array of reach and targeting that are singularly attractive to both upscale and aspirational consumers. Mode Media is backed by Hubert Burda Media, GLG Partners, Accel Partners, DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital and Information Capital. Mode Media is based in New York City and Brisbane, California.