Adknowledge, a Kansas City-based provider of behavioral online advertising solutions, has acquired the advertising business of Lookery for an undisclosed amount. Adknowledge raised $48 million in funding in 2006 from Technology Crossover Ventures.
Adknowledge announced today that it has significantly expanded its position as the leading social ad network by acquiring the advertising business of Lookery. The addition of the Lookery ad network increases the total ads displayed by Adknowledge through its social ad network, Cubics.com, to more than 10 billion monthly. This accounts for over 40% of all ads served on Facebook applications according to internal Adknowledge estimates. Cubics.com also displays ads on applications on MySpace, Hi5, Friendster, Orkut, and Bebo.
After partnering with Lookery for several months to serve ads on the Lookery ad network, Adknowledge moved to acquire the ad network assets. “We thought it made sense to own those relationships so that we can better serve publishers and better utilize our technology to improve their earnings,” commented Dwayne Lafleur, General Manager of Social Advertising at Adknowledge.
The Lookery (www.lookery.com) transaction and the Adonomics (www.adonomics.com) purchase, which was announced previously, provide Adknowledge with considerably significant reach, a larger advertiser base, and an expanded suite of publisher tools. “These acquisitions will help Adknowledge improve our publisher and advertiser offerings,” added Lafleur. “We are continuing to look at other opportunities to expand in the social space.”
Through Cubics (www.cubics.com), Adknowledge provides a social advertising platform that is used by thousands of applications developers to monetize their user base. Adknowledge has grown to become the largest social advertising network. Many of the top Facebook applications, such as Owned, partner with Adknowledge on an exclusive basis. Developers interested in the monetization of social applications can visit http://cubics.com/publishers.aspx. Advertisers interested in promoting products or services should visit http://cubics.com/advertisers.aspx. For more information, visit www.adknowledge.com.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.