CLEARWATER, Fla. – Inuvo, Inc. (NYSE Amex: INUV), a company focused on bringing the power of predictive modeling to the world of performance-based advertising, will use $4.2 million raised through an over-subscribed stock offering to drive growth by incorporating decision science technology into the existing Inuvo affiliate and search marketing platforms.
The Inuvo Platform, which launched in beta in August of 2009 and now has thousands of customers, is designed to address the complexity and communication barriers between advertisers and publishers. The Platform focuses on providing the tools and transparency necessary for advertisers to manage their publisher relationships directly, while most affiliate networks intentionally obscure details between advertisers and publishers.
“Through this approach, we address the frustrations and improve the performance within the affiliate marketplace. Rather than working with dozens of networks to get leads, we thought advertisers and publishers should talk directly,” explained Jeremy Chrysler, SVP of Inuvo’s Exchange Business Segment. “Eliminating layers in the value chain allows Inuvo to pass the benefit and control back to those directly involved in the transaction.”
The early releases of the Platform will address the needs of affiliate marketers, with future development extending the Platform to build tools for multi-channel and local advertisers to more easily grow their businesses.
Chrysler continued, “Right now, successful performance marketing requires a lot of time, money and knowledge, so smaller advertisers tend to stay away. We’re changing that by including technology and analytics that remove the manual decisions inherent in today’s marketplace.”
Inuvo has recently brought on former executives from Acxiom® and FICO™ and, with a business that already touches tens of millions of consumers every month, is playing to its strengths and experience by integrating sophisticated behavioral targeting technology to enhance value for advertisers and publishers.
“We have experienced a successful rebuilding year in 2009 and plan to use the new funds to continue to build and enhance the Platform,” said Richard K. Howe, Inuvo CEO and President. “We have seen how data and analytics are the key to making informed advertising decisions, both online and offline, and feel that Inuvo has a major opportunity here, especially at a time when more marketing dollars are sure to be directed towards online performance-based advertising options. With the credible team and solid technology we have now established at Inuvo, we are confident in our ability to capitalize on this opportunity.”
Charles Morgan, a new member of Inuvo’s Board of Directors as of 2009 and prominent investor in the company, has also worked with Howe at Acxiom. Morgan, currently an investor in Bridgehampton Arbitrage LLC and an equity owner of Bridgehampton Capital Management LLC, served as Acxiom’s Chairman/CEO from 1975 through 2008 taking Acxiom from $1 million in annual revenue to $1.3 billion.
“It has been a pleasure to reconnect with Rich after working together at Acxiom, as we share a passion for applied technology, data and analytics within online advertising. With the strong leadership and experience from Rich and the solid team he has established, I have great confidence in Inuvo’s future and look forward to watching the company continue to grow,” stated Morgan.
About Inuvo™, Inc.
Inuvo is focused on simplifying the world of performance-based advertising. Through the Inuvo Platform, advertisers and publishers directly connect to ensure maximum return from marketing efforts including search, affiliate, lead generation or email initiatives. Within one transparent and flexible Platform, advertisers and publishers alike are in control, creating an efficient and cost-effective market for all. To find out more about how you can work with Inuvo and the Inuvo Platform, please visit www.inuvo.com. For media inquiries, contact Melissa Witt, Director of Marketing, 727-324-0211 x2171, Melissa.witt@inuvo.com.
