There was a startling contrast this week with DoubleClick shamefully announcing that Lazard Freres would sell it piece by piece. Meanwhile, upstart ad network FastClick was cashing a $75M investment. The good times are on in advertising, but DoubleClick is out in the cold. BusinessWeek’s Sarah Lacy explains that DoubleClick had an over-ambitious M&A program that cost a lot and accomplished little. Most notably they spent a $1B on a company called Abacus and made a lot of fanfare about synergy that never went anywhere. They also proved to be the last one in the room to notice that the Internet ad market was coming back on. DoubleClick jumped out of the now lucrative ad-buying business to focus on premium ad serving, and is now getting out-performed by smaller, less expensive firms.
Read – DoubleClick’s Double Wammy (BusinessWeek)