AdJug, the advertising marketplace, secures funding from Balderton Capital
London, 27 June 2007, AdJug.com, Europe's first online advertising marketplace, is launching today and announces that it has secured $2 million investment from Balderton Capital, the leading international venture capital firm formerly known as Benchmark Capital Europe. The investment, which also includes participation from Espotting founder Seb Bishop, will be used to accelerate the company's growth and enhance product development. TradeDoubler Vice President, Rene Rechtmann, has agreed to act as an advisor and join the board of AdJug. The Company will initially focus on the UK market but plans expand into Europe.
AdJug provides its services to brands looking to access the huge online advertising inventory and to the growing number of publishers of online advertising. The service aims to bring better efficiency to the way online advertising is bought and sold by introducing greater levels of transparency to advertisers and publishers.
In contrast to the way online adverts are bought and sold through Google or Yahoo!, AdJug's advertisers will benefit from additional functionality including the ability to choose the location that adverts are displayed on a web page and determine the exact price they will pay for traffic. Publishers also benefit from features that will allow them to define how much an advertiser pays 'per click' optimising the method of deriving value from their online ad space.
Commenting on the investment, Klaus Hommels, Venture Partner of Balderton Capital said: "Online media is commanding a greater proportion of marketing budgets all the time and the corporate activity in the sector highlights the growing importance of this segment of the industry. AdJug's innovative approach to matching advertisers and publishers will stand them in good stead as they look to develop the business and compete with the larger industry players."
Michael Stephanblome, Co-Founder and CEO of AdJug added: "Choosing the right partners is crucial for building a solid company. Therefore we are delighted to have secured investment from Balderton Capital. Their support and network in Europe and beyond will enable us to grow AdJug quickly and their investment track record speaks for itsself."
For further information call:
Co-Founder & CEO
AdJug - the online advertising marketplace
Tel: 020 7250 1446
AdJug was formed in January 2007 by Michael Stephanblome, former Marketing Director eBay DE and Managing Director of Gumtree.com and Satish Jayakumar , a serial entrepreneur who was part of the launch team of Espotting and later founded Nixxie.com, which grew turnover to in excess of £15 million in less than three years.
About Balderton Capital
Balderton Capital is one of Europe's largest venture capital firms, committed to finding and helping talented entrepreneurs build great companies. Based in London, it manages approximately USD 1.5 billion in committed venture capital. Since 2000, Balderton has invested in over 70 companies across a wide variety of technology sectors and geographies, including UK, US, China, Russia and Scandinavia.
Notable investments include Habbo Hotel (the teen social networking site), Alphyra (Europe's largest payment processing network), MySQL (the open-source database business), Betfair (the largest online betting exchange), Setanta Sports (Europe's leading sports pay-tv broadcaster) and Bebo (the leading social networking site).
Balderton takes a team-oriented approach to venture investing. The partners combine Silicon Valley operating and company-building experience with a keen understanding of what it takes to build successful businesses in the European technology market.
There are six general partners and one venture partner. The general partners are -
Johan Brenner - previously Founder and Chairman of TIME Vision, a privately owned Nordic-based investment company focusing on early stage communication and information technology companies. As an entrepreneur, investor and board member, Johan built a number of successful companies, including Jobline, E*Trade Nordic, DebiTech and Tradera. Before that, he held various executive positions within the Kinnevik Group including the Modern Times Group and 3C Communications.
George Coelho - as one of just a few venture capitalists who has been an active, early-stage investor in every major technology market in the world, George brings significant international investing and company-building experience to Balderton. He spent nine years at Intel Corporation where he founded and led the international strategic investment group of Intel Capital.
Mark Evans - Mark spent 15 years in senior positions at Goldman Sachs Europe, Asia, and the US. He then became the CEO of a US software services company and an Entrepreneur in Residence at Benchmark in Menlo Park.
Ynon Kreiz - Ynon has considerable experience in the European media sector, having previously acted as Chairman, President and CEO of Fox Kids Europe. Under his leadership, it rapidly became the fastest growing pay-TV channel and most widely distributed children's channel in Europe and the Middle East.
Barry Maloney - Barry spent five years as CEO of O2 Ireland (originally Esat Digifone), Ireland's second largest GSM mobile operator. Before that, he spent two years at Xerox Corporation where as Vice President of first Business Development and then Channel Operations, he was instrumental in revolutionizing Xerox's approach to global marketing.
Jerome Misso - prior to joining Balderton, Jerome was a partner at the London law firm, Nabarro Nathanson, where he was head of the Corporate Finance Technology Group. He specialized in venture capital funding as well as mergers and acquisitions in the technology sector and represented several European and US venture capital firms as well as companies receiving funding.
And the venture partner is -
Klaus Hommels - Klaus is a seasoned entrepreneur and business angel. Prior to joining Balderton, Klaus spent several years as a private investor. He has a successful investment track record in European technology and media companies including Skype, Midas Player, StarDoll and OpenBC.