News
DOOH screen provider Danoo to acquire IdeaCast
July 5, 2009
SAN FRANCISCO — Danoo, a digital location-based media network with interactive video screens in popular retail locations, has acquired IdeaCast, a provider of advertising in the rapidly expanding captive television category.
As part of the transaction, National CineMedia, LLC (NCM), operator of the largest digital cinema network in North America for cinema advertising, alternative entertainment and events, and Kleiner Perkins Caufield & Byers (KPCB), a leading venture capital firm with a rich history of building entrepreneurial investments into successful enterprises, will each hold a minority interest in the new company. The assets acquired by Danoo had been previously acquired by NCM from the original IdeaCast entity. The new Danoo corporate entity will continue to operate and sell advertising across its digital media networks under the Danoo and IdeaCast brands.
Danoo and IdeaCast have exclusive contracts to present content and advertising in thousands of high traffic and extended dwell time venues, including top-tier health clubs, airport newsstands, seatback TVs on JetBlue, Frontier and Continental Airlines, and a dense concentration of coffeehouses, upscale delis and cafes in the top U.S. media markets. The arrangement unites the best location-based media opportunities with leading technology, such as transparent ad insertion, IP-based geo-targeting, mobile interactivity, digital content distribution and dynamic content localization. The new entity provides advertisers and marketers an unprecedented platform to reach the elusive upscale mobile professional underserved by traditional media such as television.
"We're thrilled about this strategic combination of our talented teams and the broad array of world-class partnerships supporting us," said Aileen Lee, Danoo CEO. "IdeaCast is a company with incredible momentum and we believe its Captive TV proposition represents one of the most compelling advertising opportunities for marketers looking to engage their increasingly on-the-go consumer base. The addition of IdeaCast's networks allows Danoo to offer advertisers deep nationwide scale along with the ability to bring relevant digital media to a desirable, consistent audience at key points in their day. With industry leading investors like NCM, the country's leader in digital cinema media and KPCB, who have helped scale entrepreneurial ventures like Amazon, Netscape and Google, Danoo is in a terrific position to build a new type of digital media opportunity."
"This transaction furthers our original IdeaCast investment strategy to create a location-based media incubator that may one day provide an additional growth engine for NCM," said Kurt Hall, NCM CEO. "This new, larger unique platform will offer media buyers the combination of nationwide reach and the ability to narrowly target messages to specific geographic locations. As location-based digital media is still overly fragmented, this combination is an important step in our effort to bring greater national reach and more standardized buying metrics to the media community."
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