Web Site Promotion India
Contact Us

Quigo closing $5 million round of venture funding

yesterday it closed a $5 million round of venture funding as the New York search startup prepares to take on Google in the contextual advertising market.

Highland Capital Partners led the funding, Quigo's first infusion of institutional capital. Lycos founder Bob Davis, now a partner at Highland Capital, will join Quigo's board of directors.

Quigo said it would use the funding to further develop its two search products: FeedPoint, an automated system that analyzes Web pages and suggests keywords, titles and descriptions for use in search marketing; and AdSonar, a contextual advertising system for displaying paid listings on Web pages.

Michael Yavonditte, Quigo's chief executive, said he expects to officially release AdSonar in April. It will compete for publishers and advertisers with Google's AdSense, Kanoodle's Context Target and Overture's Content Match.

"We've had thousands of inquiries," he said.

Google mostly dominates the nascent contextual listings market, which displays paid listings related to a Web page's content. Investment bank U.S. Bancorp Piper Jaffray estimates contextual advertising will generate $100 million this year, growing to $1.4 billion by 2008.

Thanks to its head start in the market, Google listings are on thousands of Web sites, from prominent ones like NYTimes.com to Web logs.

Kanoodle launched a competitive offering in December after hiring executives from Sprinks, which Google bought and shut down last fall, and securing more than $10 million in venture backing. Context Target listings are displayed on CBS MarketWatch. Overture displays its Content Match listings on parent company Yahoo's network and parts of MSN.

Yavonditte said he is undaunted by the competition's products. "We do think, on a generic level, the relevancy that we see out in the marketplace can be a lot better," he said.

Source: DM News

Printer-friendly   ·   Email this Page

2005 - All rights reserved worldwide. Call Now 1-877-822-0875

Building Trust in Transactions (tm) Pay me securely with your Visa, MasterCard, Discover, or American Express card through PayPal!VisaMasterCardDiscoverAmerican Express
(We are Square Trade Verified) (We Accept Payments via Paypal) - Partners for Search Engine Optimisation and SEO (Member of International Internet Marketing Association)

Warning: require() [function.require]: URL file-access is disabled in the server configuration in /home/submit/public_html/templates/CleanBlue/template.php on line 1

Warning: require(http://www.submitplanet.com/tla.php) [function.require]: failed to open stream: no suitable wrapper could be found in /home/submit/public_html/templates/CleanBlue/template.php on line 1

Fatal error: require() [function.require]: Failed opening required 'http://www.submitplanet.com/tla.php' (include_path='.:/usr/lib/php:/usr/local/lib/php') in /home/submit/public_html/templates/CleanBlue/template.php on line 1