Backed by Marquee New York VCs IA Capital Partners and NYC Seed, Magnetic Allows Advertisers and Publishers to Easily Benefit from Search Data
NEW YORK - March 22, 2010 - Magnetic (www.magnetic.is), formerly known as Domdex, today announced its formal launch with a mission to make search re-targeting easy and accessible. Magnetic has developed a data marketplace that empowers advertisers and publishers to use search data as the key indicator of intent and apply that data for campaigns outside of the search engine.
"The industry continues to face a major problem where targeting a Web user, without knowledge of intent, is difficult," said Josh Shatkin-Margolis, CEO and founder of Magnetic. "With our unique approach and technology, we aim to help our customers find their customers in the best way we know how -- by finding people, wherever they are on the Internet, who are actively searching and considering a purchase."
Magnetic's seed funding of $1.25 million was led by two of New York's finest venture capital firms, NYC Seed and IA Capital Partners. The company continues on its mission of helping advertisers find customers with superior efficiency by accelerating development and ramping up its sales force to work with more ad networks, ad exchanges and DSPs. By this spring, Magnetic will launch a search data marketplace that will extract maximum value out of search data to significantly lift the value of media and improve campaign performance for all forms of online ads.
"Magnetic will drive marketers to expect a new level of effectiveness from online advertising. It has combined disparate online elements in a unique way that results in advertising performance rarely seen. Its outstanding team and technology position Magnetic to lead the way for the next generation of advertising relevancy," said Owen Davis, Managing Director of NYC Seed.
Roger Ehrenberg, Managing Partner of IA Capital Partners, added: "Magnetic represents a quantum leap forward in solving the pressing issue facing advertisers: how do I reach the right audience when they are ready to buy? The integration of leading-edge search technology and advertising is the wave of the future, and Magnetic is executing on this vision today."
Magnetic makes search re-targeting easy. The Magnetic data marketplace empowers advertisers and publishers to use search data as the key indicator of intent and re-target campaigns to the most relevant audience online. With more than 200 million search profiles, Magnetic significantly lifts the value of media and improves campaign performance. Magnetic's advanced technology provides the largest payment to search data providers. It is the search data partner of choice for more than 40 leading agencies, ad networks and DSPs. Magnetic is headquartered in New York, funded by investors including Roger Ehrenberg, Founder Collective and NYC Seed. For more information visit: www.magnetic.is.