Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (63435)	1/17/2000 8:31:00 PM
From: puborectalis	Respond to of 108040

BuyMedia.com Announces Internet Capital Group's $45 Million Stake BURLINGAME, Calif., Jan 17, 2000 (BUSINESS WIRE) -- Online Media Buying Service's Dominant Market Position Attracts Leading B2B e-Commerce Holding Company's Attention BuyMedia.com (www.buymedia.com), the first service that lets media buyers purchase premium advertising over the Internet, today announced that Internet Capital Group has spent $45 million to acquire a strategic stake in the company. A leading Internet holding company, Internet Capital has targeted 50 vertical industries and is acquiring interest solely in business-to-business (B2B) e-commerce companies that display market dominance in these sectors. Internet Capital's interest in BuyMedia.com marks the holding company's only foray into the media industry. "Media is one of the fastest growing sectors of the economy. Its fragmented population of advertising buyers and sellers need an efficient and cost-effective online marketplace that e-commerce can deliver," said Victor Hwang, managing director at Internet Capital Group. "We believe BuyMedia.com's compelling business model, strong presence in the broadcast media, strong management team and momentum make it the leader in the media market segment. BuyMedia.com expands Internet Capital's presence in another multi-billion dollar market and is a very strategic addition to our collaborative network of partner companies." Currently, U.S. advertisers spend more than $60 billion annually on radio and television advertising. Before BuyMedia.com, however, purchasing premium advertising on America's more than 8,000 stations was a complex, expensive and time-intensive process. BuyMedia.com is the first company to leverage the Internet's ease of use, wide reach and round-the-clock availability for media buyers nationwide. More than 2,000 media buyers representing upwards of $10 billion in annual broadcast advertising are already benefiting from BuyMedia.com's television and radio buying services; the site is currently processing more than $1 million per day in broadcast orders. BuyMedia.com plans to use the proceeds of this financing to capitalize on existing markets and identify new opportunities. "We are excited to join Internet Capital's collaborative network of partner companies, having been identified as the premiere player for buying traditional media via the Internet," said Mike Jackson, president and CEO of BuyMedia.com. "Being selected by Internet Capital is a tremendous validator of the strength of this market and our ability to deliver the most efficient, cost-effective and convenient way to purchase premium advertising. As demand for advertising continues to rise, BuyMedia.com is the only company poised to deliver the services that media buyers will rely upon for their media buying needs." About BuyMedia.com BuyMedia.com (www.buymedia.com) provides TV and radio stations with an efficient and cost-effective third sales channel. With BuyMedia.com, stations are contacted by media buyers in more than 900 cities across the U.S. via the Internet. More than 2,000 media buyers use BuyMedia.com to transmit station orders, avail requests and traffic instructions to stations. Using BuyMedia.com, radio and TV stations can dramatically increase both their exposure and ad revenues. Now able to accomplish in minutes what used to take hours, media buyers across the country are quickly adopting BuyMedia.com as a better way to buy broadcast advertising. Next Previous