Online advertising platform serves over 100 brands in 2008; expands to five locations
NEW YORK – Lotame, a platform enabling targeted advertising to customizable audiences using social data, announced it achieved significant company growth and momentum in 2008. Closing the year with its highest quarterly revenues to date, more than a 450 percent increase as compared to the first quarter of the year, the company expanded its staff to over 50 employees and added locations in Boston, San Francisco and Chicago along with a new data center in Virginia. Lotame’s innovative technology enables brands to more effectively target and message to consumers based on their behavior on social media sites.
Company Growth Amidst Down Economy
In an industry marked by contraction and gloomy forecasts, Lotame experienced overall company growth by all metrics, including revenue, customers, ads placed, and a staff increase of 20 percent in the fourth quarter alone. The company also expanded its executive team with the addition of COO Adam Lehman.
“Even with the advertising market in transition, Lotame continues to lead the way for advertisers seeking measurable and effective results from their marketing efforts within social media,” said Andy Monfried, founder and CEO, Lotame. “Given Lotame’s unique targeting, delivery and monetization approaches, the company is well positioned for another outstanding and successful year in 2009.”
In late summer of 2008, Lotame closed on $13 million in series B financing led by Emergence Capital Partners with continuing participation from previous investors including Battery Ventures and Hillcrest Management.
Technology Innovator Breaks New Ground
The company’s growth was spurred by its successes on behalf of an impressive roster of over 100 brands including 36 Fortune 500 companies ranging from the largest CPG brands to top entertainment providers and automakers. In the fourth quarter alone, Lotame increased the number of ads it served by 26 times on behalf of its brand partners. In addition, Lotame tripled the number of publishing partners it works with as more publishers began to recognize the value of Lotame’s solutions.
The introduction of Lotame’s newest offering, Time Spent™, attracted several large brands and agencies seeking to optimize the performance of online advertising. Time Spent measures the impact of advertising based on the time that individuals spend viewing display ads. Lotame’s Exposure Tracker technology counts the time that a user actually spends viewing an ad without counting time when the ad is obscured, minimized or scrolled out of view. By accurately monitoring and combining the time each user spends with the ad in plain sight, Lotame can measure the actual impact on the desired audience.
Lotame provides a platform for easily building and addressing customizable consumer audiences based on social data in addition to implied or stated interests. Lotame has specifically designed its patented Crowd Control platform to take full advantage of the unique attributes of social media, using participation and user generated content as a foundation for improved campaign performance. Lotame is a member of the Interactive Advertising Bureau (IAB). Please visit www.lotame.com for more information.