AdOn Network ads up for Prime
Web advertising business part of acquisition spree
By Paul Imbesi
PHOENIX ? AdOn Network, an online advertising company, was recently acquired by the newly formed PV Media Group, which has also acquired the search engine marketing company Prime Visibility. Bhaskar Ballapragada, the chief technical officer for Phoenix-based AdOn Network, will remain at the company as it becomes part of Prime Visibility Media Group.
?We?re off to a great start by acquiring AdOn Network and Prime Visibility, two leading and complementary online marketing companies that will only get better by offering more services to their customer bases. And with our deep relationships in the traditional media space, we are in a strong position to help enhance their brands? online presence and drive traffic in a fast-growing online advertising market,? Steve Rosenberg, the chief executive officer of the PV Media Group, said in a statement.
Financial terms of the deal have not been disclosed.
AdOn Network specializes in placing advertisements on the Web, as well as tracking advertisements for advertisers and publishers on different Web sites. Recently, AdOn Network was honored by Entrepreneur Magazine, which ranked it as one of its annual ?Hot 500,? which tracks the fastest growing companies. AdOn Network was ranked 72 on the list.
Ballapragada said AdOn has about 1,500 advertisers from around the United States, as well as about 500 Web site customers, which the company refers to as traffic providers. AdOn tracks how many people are coming to a company?s Web site from advertisements, specifically ones featured on search results. Customers pay for this service. Although the company battled online advertising giants like Yahoo! and Google, Ballapragada said AdOn Network targeted small- to medium-sized businesses.
Despite the accolades and the growth of AdOn Network, vice president of marketing Kory Kredit said the company has been looking to be acquired for the past year. Kredit said talks with PV Media Group began towards the end of last year and came to fruition by the end of December.
According to Ballapragada, there is a synergy between the two acquired companies in building them together. Going forward, he said PV Media Group will look to add to these existing businesses.
He added that in the short-term future, he does not expect any changes to AdOn Network, since the company and the other acquired company, Prime Visibility, are both profitable.
He added that the idea is to operate AdOn Network and Prime Visiblity as a separate entities underneath PV Media Group.
Ballapragada said AdOn Network will get a ?big boost? in additional contacts from PV Media Group. In the long term, he added his company wants to grow into a full service Internet marketing firm, and the contacts and experience PV Media Group brings to the equation is a huge addition.
Ballapragada said PV Media Group may have looked to buy AdOn Network thanks to Seth Page, the new chief operating officer of PV Media Group who has a long relationship with AdOn Network and also knew the company?s technology well.
Kredit added that another key is AdOn Network?s profitability - other some ad networks are venture capitalist-funded and losing money.
One piece of technology that made AdOn Network attractive was the company?s new widget, JargonFish, which is an in-text search device that publishers and bloggers can add to their Web sites to include outside advertisers on their sites, according to AdOn Network. Ballapragada said the new widget proved that AdOn Network could offer new technology and generate interest, in addition to being financially strong.
Ballapragada and Kredit both said they will remain with AdOn Network, and the company will stay in Phoenix and keep its name, though it will most likely expand its name to indicate AdOn is a member of the Prime Visibility Media Group family. As for employees, Kredit said AdOn Network is not cutting back, and has open positions the company is looking to fill. AdOn Network employs about 45 people.
Ballapragada joined AdOn Network six months after the company was founded in 1999.
He is from Sangli, India, which is about 300 miles south of Mumbai, and came to the United States in 1989. He has an undergraduate degree from the Indian Institute of Technology in Mumbai, as well as a master?s degree from Vanderbilt University in Tennessee.
PV Media Group, a leading integrated online advertising, marketing and media company, is comprised of two established name brands:
AdOn Network, Inc., (adonnetwork.com), founded in 1999, is one of the largest contextual and behavioral advertising networks online, providing innovative solutions to more than 1,000 national and international advertisers and publishers. Based in Phoenix, Az., AdOn Network ranked 72nd on Entrepreneur Magazine's "Hot 500" list of 2007's fastest-growing companies in America.
Prime Visibility LLC (primevisibility.com), founded in 1998, is a leading, full-service Search Engine Marketing (SEM) firm committed to increasing traffic, sales and ROI for its clients. Prime Visibility provides integrated online marketing plans and individually tailored services, including Search Engine Optimization (SEO), Pay-Per-Click (PPC), email marketing, conversion tracking solutions and other SEM services. Based in Long Island, N.Y., Prime Visibility has developed outstanding revenue growth and is on the 2007 INC. list of the fastest-growing private companies in America.