On cue, Glam Media has started making use of the big money it has raised: it is announcing its first acquisition, and has bought out London-based online ad sales rep firm firm Monetise, for an undisclosed sum. The UK company was founded three years ago and sells ads for top sites in UK, such as Flixster, ARTISTDirect and TVGuide.co.uk. The company’s 17 employees will form Glam’s U.K. team, the WSJ story says. Monetise founders Joel Cymberg and Jon Walsh are staying with Glam.
Monetise is expected to bring in $25 million to $45 million of U.K.-based ad revenue next year, the company said. Glam CEO Samir Arora told WSJ that the company expects $100 million in revenue in 2008, growing to $250 million to $350 million next year. It expects to expand into Germany, France, Japan, India and China within a year, which means more acquisitions.
By acquiring the London-based specialist in digital advertising, the woman-focused ad network hopes to boost its international offerings as well as its entertainment properties.
When Glam Media raised $84.6 million in February, international expansion was on its radar, and now we’re seeing the results: the women’s-focused ad network announced on Tuesday that it has acquired Monetise, a London-based digital-ad sales start-up.
All Monetise employees will become part of Glam under the deal, financial terms of which were not disclosed.
“The acquisition of Monetise speeds our entry into the important U.K. display ad market,” Glam Chairman and CEO Samir Arora said in a release. “Monetise has strong relationships with London advertising agencies and enables Glam to immediately increase its reach in the U.K. market.” Additionally, some of Monetise’s in-house technology will be worked into Glam’s platform.
The 3-year-old Monetise, which specializes in entertainment advertising, serves display ads on sites such as Flixster, ArtistDirect and the U.K.’s TV Guide. Those sites will become part of Glam’s U.K. Entertainment division; Monetise co-founder and CEO Joel Cymberg has been appointed Glam’s publisher management and operations director, and co-founder and sales director Jon Walsh is now Glam’s entertainment sales director.
In recent months, Glam has acquired fashion social network StyleMob, launched a revenue-sharing video platform, and become the subject of a quintessentially Silicon Valley hot-air debate over whether it had really gotten a billion-dollar acquisition offer.