Former Yahoo exec launches online ad rival

Silicon Valley venture capital firm DAG Ventures has joined the backers of online advertising startup OpenX, leading a series C funding round of $10 million that takes total investment in the company to $31 million.

OpenX is an independent competitor to advertising services offered by Google (GOOG.O), Microsoft (MSFT.O), Yahoo (YHOO.O) and Time Warner's (TWX.N) AOL. It is run by industry veteran and former head of Yahoo's search business, Tim Cadogan,

The company said on Tuesday it would use some of the new funding to accelerate development of an online ad marketplace it launched last month that is designed to make it easier for smaller Web publishers and advertisers to find each other.

Read Full Article from Reuters

- Posted: 2009-05-26 08:48:02

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