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Advertising - Monday, July 20, 2009

eCommerce Ad Network Intent Media Raises $9M

Stealth-mode and New York-based Intent Media has been the subject of buzz in advance of coming out. The online ad startup was launched by the founding team of Site59. In March 2002, Travelocity acquired Site59 for $43M in cash.

Intent has raised $9M in Series A funding led by Matrix Partners, says PeWire.

We gather that Intent Media is focused on running ads appropriately on eCommerce sites. Amazon and some other large eCommerce sites run ads but many others have been reluctant as there is anxiousness over errors where they might run ads for competitors. Intent's secret sauce is a scheme to make sure that only appropriate ads run. The upside is that ad placements on eCommerce pages perform and pay very, very well.

Intent Media is led by Damon Tassone (Co-founder and CRO) who after Site59 was Deputy CEO at LastMinute. CEO Richard Harris was SVP Strategy and Distribution at Travelocity.

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