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April 19, 2006
Online Ads Tech Firm Staffing Up For VC Round
One month after selling one of its web-sites that targets consumers over 45, Utarget, a British online advertising ageny and new media company, says it has hired David Michael, a former Yell.com executive to take over business development.
The move, it said, is one of the things it is doing with an eye to raising venture capital (note that in the UK venture capital is used interchangeably with private equity).
The firm's CEO says that it wants to build partnerships to develop several recently created niche consumer-oriented sites that cover travel (Travelconnect), finance, youth, and health sectors. Its Media division created 50connect, a portal for people over 45, which was acquired in March by Opalcove in a seven-figure (British pounds) deal.
Utarget, which was founded in 1998, manages ad networks across 500 UK websites that reach more than 15 million unique users per month. It has an annual turnover of £2.5M.
Read - utarget plc strengthens strategic business development with ex Yell.com man
Posted on April 19, 2006 04:12 PM | Posted to | Permalink
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