Fresh from its move to the NASDAQ, InterCLICK announced that it has succesfully placed "2,875,000 shares of common stock to a select group of institutional investors." Given the sale price of $4.50 share, InterCLICK now has a cool $12 million in net proceeds to play with. Acquisitions? More tech? Feet on the street? We'll see. Read the release on Yahoo!.
AdExchanger.com caught up with InterCLICK president, Michael Katz...
AdExchanger.com: What does the investment mean for InterCLICK? And, can you characterize the openness to investment in advertising technology companies these days by investors? Market improving?
MK: This is a significant development for us and hopefully continues to validate the network model amidst other industry trends. Having access to significant capital (for the first time) will allow us to continue to deliver innovative solutions on behalf of our clients.
Its tough to compare the openness to investment between us and private companies because they are two very different types of investors but hopefully we are helping to validate the model for everyone.
AdExchanger.com: Looking back at the ad industry the past year, any surprising developments come to mind?
MK: The most surprising development was the hype around RTB, still way too early.
By John Ebbert