AdReady gets $10million
Some heavyweight investors are lining up behind AdReady, the Seattle startup that is attempting to make it easier to place display advertising on Web sites. Bain Capital, Khosla Ventures and existing investor Madrona Venture Group are pumping $10 million into the company, cash that it will use to increase marketing and hire new employees.
Founded last year by former Classmates.com executives, the 33-person company plans to end next year with 50 to 60 employees, said Chief Executive Aaron Finn.
Launched in October, AdReady has developed an online library of about 600 prefabricated display ads in categories such as real estate, education and travel. Customers choose an ad, customize it and then — with AdReady’s help — launch it into the ad networks from Google and Yahoo’s Right Media.
So far, about 1,000 companies — ranging from plumbers to painters to major airlines like Alaska Air — have signed up for the service. The ad-creation tools are free to use, with AdReady getting paid when a client decides to set a budget for the campaign. AdReady takes a 20 percent commission on the campaign.
