More Ad Network Deals—Specific Media Raises $100 Million, AOL Close to Buying Quigo For $300 Million
On the (possible) acquisition front, ad-targeting network Quigo might be bought by AOL for $300 million, according to Kara Swisher. Quigo provides contextual ad-targeting for many media Websites, including ABCNews.com, CNNMoney.com, Forbes.com, and USAToday.com. This would certainly be in keeping with AOL’s strategy to build out its Platform-A advertising network, even as it takes steps to allow consumers to opt out of such targeting. Quigo won’t confirm the rumor. But it didn’t deny it either. I called up Quigo CEO Michael Yavonditte earlier today to ask him about it. His non-response: “There are rumors that we are going public, there are rumors that we are going to be bought. We don’t comment on stuff like that.” Sounds like he is keeping his options open.
(Disclosure: I am a former employee of Time Warner, which is the parent of both AOL and CNNMoney, and I own Time Warner stock.)