When Google plunked down a $400 million offer for New York’s AdMeld, a lot of local venture folks were surpised at the price.
“They’ve got some good growth, but nothing that would justify this kind of premium,” was how an ad-tech investor put it Betabeat. To date AdMeld had raised just $30 million.
But a chat yesterday shed some light on the situation. “We are getting a ton of pitches from former Wall Street quants looking to start companies that apply the principles of high frequency trading to the emerging market for real time bidding across online ads,” said Bryan Birsic, a senior associate at Village Ventures. Read More