Spot Runner Acquires Online Marketer Weblistic
This story was written by Joseph Weisenthal
Santa Monica-based Spot Runner, which uses the web to help marketers buy TV ad spots, has acquired Weblistic, a provider of online marketing service for small businesses. The acquisition expands the breadth of services offered by Spot Runner, as it now can sell its customers on both TV and online marketing. Both companies already have the same bent, making it easier for small business to advertise on their selected mediums. Spot Runner has been heavily backed, having most recently raised $40 million from CBS (NYSE: CBS), WPP and Interpublic in 2006, for a total raise of about $60 million. Weblistic was formed in 2005 and its CEO Ketan Shah had previously been at YellowPages.com for five years. Terms of this acquisition were not disclosed, though it was an all-stock deal. Release (.pdf)
Rafat adds: There have been rumors about Spot Runner itself being on the block..one natural buyer could be WPP, which is also an investor. We know it on good authority that Google (NSDQ: GOOG) gave an offer couple of years ago, and at that point Spot Runner tuned the offer down...Google then decided to go TV advertising by itself.
By Joseph Weisenthal