Advertising - Tuesday, September 9, 2008
$10M Investment Tab For Sports Ad Network Sportgenic
One of the bigger gambles we spot is the vertical ad network. Take your pick starting from Glam Media to Blogher to Sportgenic. Its a tough business because the barriers to entry are meaningless, no technology is being built and the vertical ad networks often misled folks saying they have excllusive ad inventory when in fact they are wrestling with disgruntled publishers.
San Francisco-based Sportgenic is in a good ad vertical to be sure. Sporting ads pay OK and Sportgenic stays up-stream by focusing on sports like triathalons where participants tend to be high net worth, the kind of people that advertisers favor.
Adams Street Partners. Alsop Louie Partners, KPG Ventures, and Greycroft Partners provided the $10M here, all of which participated in Sportgenic's Series A round.
The Sportgenic pitch
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