Silicon Valley VC Pays $48M for Minor Stake in Adknowledge

Share this content:
Technology Crossover Ventures invested $48 million in Adknowledge, a 70-person Kansas City firm that helps online publishers and small businesses advertise online.


The investment gives Technology Crossover, Palo Alto, CA, a minor interest in Adknowledge, whose specialty is designing contextual ads for clients that are placed on Web sites and in e-mails. Adknowledge will use the money to expand its business.


Scott Lynn, the founder of e-mail marketing firm Virtumundo, launched Adknowledge in January 2004. It recently opened a sales office in San Francisco and plans one in New York.


Brett Brewer, former president of former MySpace.com owner Intermix Media, recently joined Adknowledge as president. News Corp. last year paid $673 million for MySpace.com, a social networking site.


Technology Crossover in November closed a $1.4 billion venture capital fund. The company has financed firms like Netflix, Expedia and CNET.


close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above