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Podaddies Closes $1 Million in Funding
October 10th, 2007 No comments
Podaddies, a new online video advertising company, recently announced it has closed its first round of angel funding of just over $1 million. Well-known startup investors led the funding: The Band of Angels and The Angels Forum, as well as former executives from other highly visible companies. The funding will be used to continue the growth of the company this fall, add staff and execute the vision of founder and CEO Nate Pagel.
We are excited to have the opportunity to work with some of the finest and most strategic investors in the industry, who see that the online video advertising market is just starting to take off, said Pagel.
According to researchers at eMarketer, Inc., spending on online video advertising in the U.S. is expected to experience exponential growth from an estimated $640 million this year to nearly $4.3 billion in 2011.
Podaddies represents a unique opportunity to participate in the evolution of advertising as a tectonic shift takes place in viewership in the online world, said Andrea Zurek, Sand Hill Angels member, Podaddies investor and former advertising executive from Google. With its ability to seamlessly track and monetize content even after its been downloaded, Podaddies is poised to establish itself in a leadership position in the industry, and I am happy to be able to play a role in their success.
Podaddies ensures that targeted ads will be able to play, track and pay whenever and wherever the media is consumed. Using the Podaddies ad network, advertisers can reach highly desirable markets theyve been unable to reach while video publishers can track and monetize their video content on web pages and after its downloaded, shared and distributed.
Based in San Francisco, Podaddies is an online video advertising company with proprietary video advertising technology and a growing network of content publishers that empowers advertisers to target previously unreachable markets with their video advertisements.
For more information, please visit www.podaddies.com
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