Advertising - Monday, April 21, 2008
Travel Ad Network Jets Off With $15M In 1st Funding
We have known the guys from Travel Ad Network for some time. Founded back in December 2003, Travel Ad Network (TAN) has been not raised venture funding to date, but has been scrappy. It claims to be the largest online travel audience on the Internet with 10.5M Comscore monthly uniques. That's not a hugely impressive number but travel tends to garner strong CPMs.
TAN is an exclusive online advertising salesforce for over 50 travel planning and booking sites. TAN represents Kayak, RandMcNally, LonelyPlanet, CheapFlights, and RoughGuides. They key here is that TAN insists on and gets exclusive inventory.
Headquartered in New York, TAN has raised $15M in a first round of venture funding. The funding comes from Rho Ventures, Village Ventures and others.
Staying with travel, the sector continues to find venture interest. San Francisco-based TripIt, an online travel web site, has raised $5.1M in a Series B funding round from Sabre Holdings, O'Reilly AlphaTech Ventures, and the European Founders Fund. And The Nile Guide raised a first round of funding from Draper Richards and KPG Ventures.
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This is more impressive than it seems.
comScore currently defines the TRAVEL category at 76,758 uniques and Travel Ad NEtwork has 13,423 of them according to April 2008 numbers.
That's 17.5% and almost a quarter of the entire travel market.
Considering that Travel Ad NEtwork came out of nowhere in the past 4 years, they are the ones to watch in travel.
Posted by: bob sacco at May 20, 2008 12:22 PM
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