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FastClick – Profile

November 1, 2004

HQ: Santa Barbara, CA
Founded: 2000
Management: Founders are engineers Dave Gross and Jeff Pryor. In 2004 they handed over the CEO position to former ValueClick executive Kurt Johnson.
Investors: The company has been bootstrapped until November 2004 when FastClick completed a $75M Series A round led by Highland Capital Partners and Oak Investment Partners and Steamboat Ventures.
Business Model: Online ad network, initially focused on small and medium size publishers and advertisers. The company has shown revenue growth of 540% over the past 3 years and is reported to be profitable.
Competitors: Valueclick, Google Adsense, AOL’s, Burst Media, Tribal Fusion, Blue Lithium, 24/7 Real Media.
Dirt: A $75M Series A investment is an attention grabber. What on Earth does a profitable, fast-growing ad network need all that cash for? The company indicates that an unspecified amount will go to buy-back stock from the founders. Santa Barbara is not cheap terrain and the founders would clearly like to live in their hillside mansions now rather than after a potential IPO. Good times are on, but the company is in a strategic bind. Those who control the traffic can squeeze third party ad technology middlemen like FastClick, particularly when there as many competitors as there are now.


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