The outdoor advertising industry hasn’t been transformed by the digital age, at least not yet. But a NY startup called Adstruc, which raised $1.1 million this week, plans to change all that.
“There are so many cobwebs in this business that nobody wanted to clean up,” says Adstruc CEO John Laramie. Right now the marketplace for space on billboards, walls and mass transit is fragmented across numerous vendors, many of whom don’t bother with online listings.
Adstruc has created an online database for these various forms of outdoor advertising where sellers can list inventory and buyers can place bids. “We are going to make buying billboards as easy as buying AdWords on Google.”
Laramie, 26, developed Adstruc as part of the Boulder, CO based seed fund Techstars, before moving here to found the business. In an odd twist, Techstars is now following Laramie by launching a Manhattan based version of their seed fund. “I guess NY is the place to be if you’re a young gun tech right now,” says Laramie.