Wednesday, May 7, 2008
Interesting investor chases after SpotRunner
Don't find it the least bit surprising that SpotRunner just closed another huge round of financing--$51 million to be exact. If you're not aware--and you should be!--the company's focus is an automated system for creating and buying ads that is targeted at this point mainly to small companies, like the local florist. What does surprise though, is one of the new backers, Groupe Arnault/LVMH, the luxury goods conglomerate. According to Nick Grouf, company founder and former PeoplePC founder, the funding from LVMH reflects its desire to have better targeted, focused advertising.