Advertising - Tuesday, June 17, 2008
Glam Media Unloads Warchest. Buys UK Ad Rep Firm Monetise
Glam Media has bought Monetise, an online media sales rep in the UK. They are not putting a price on the deal at this point, but Glam had closed financing to do M&A. Glam plans to buy more content companies but buying a regional ad network like Monetise makes a lot of sense. Monetise says it plans to do $25M to $45M in gross revenue next year.
In addition to picking up this new revenue and growth, Glam also gets a currency hedge with Monetise primarily earning a living in Euros.
Monetise specializes in entertainment and lifestyle categories and represents both UK and US premium niche properties such as Flixster, WAYN and ARTISTdirect.
Monetise was founded in 2004 by Joel Cymberg and Jon Walsh who was with rival eType.
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