Investors Put $3M in MayDreamMayDream, Paris, the new media company that owns and operates Adforum.com, an online directory of advertising agencies, said it has received a $3 million first-round investment from 3i-USA, Palo Alto, CA, a venture capital investment group in Europe with offices in the United States.
Adforum.com, which recently began partnering with the online marketing directory Multicultural Target Source, www.multiculturalsource.com, said it has about 8,000 advertising and marketing services agencies in more than 100 countries. The service provides access to agency profiles and creative portfolios online and includes participants Young & Rubicam, Publicis, Saatchi & Saatchi, EuroRSCG, Leo Burnett and McCann Erickson
Philippe M. Guerinet, who will begin serving as Maydream's managing director Feb. 1, said advertising shops are turning over one-third of their client base every year, putting new pressures on agency leaders to bring in additional accounts on a regular basis.
"The ability to generate new business is [now] paramount," said Guerinet. "By joining AdForum, agencies are visible in a central location heavily trafficked by advertisers and consultants where their work is visible to anyone and everyone looking for an agency."