SOURCE: TargetSpot

TargetSpot

September 23, 2009 08:00 ET

TargetSpot Inks Deal With GOOM Radio

NEW YORK, NY--(Marketwire - September 23, 2009) - TargetSpot Inc., the nation's largest Internet radio advertising network, today announced a partnership with GOOM Radio, a newly founded New York-based online radio company, to become their exclusive advertising channel. The deal will make it possible for GOOM Radio network to leverage TargetSpot's award-winning online advertising platform to tap into brands looking to expand their marketing reach online. The partnership with GOOM Radio was one of the first under the leadership of new TargetSpot Chief Executive Officer, Eyal Goldwerger.

"Signing GOOM is in line with our goals of pursing exciting growth opportunities in the rapidly expanding market of Internet radio," said Eyal Goldwerger, CEO of TargetSpot. "They allow us to offer our advertisers access to pure play online radio services with unique programming and cutting-edge services. Adding GOOM to our list of top Internet radio distribution partners is a big win."

With TargetSpot as their exclusive partner, GOOM can now enter the streaming media advertising market with the support of the most experienced Internet radio sales team and advanced technology platform. TargetSpot's innovative advertising platform will help GOOM maximize the value of their radio network through its precise targeting options, performance reporting and direct connection to TargetSpot's extensive advertiser network.

"Successfully monetizing online radio is an industry challenge," said Drew Hilles, Chief Sales Officer of GOOM. "We looked for an advertising partner that mirrored our drive to innovate. TargetSpot, with its impressive roster of Internet radio partners, was the obvious choice."

GOOM recently received approximately $16 million in Series A funding and is fueled by a team of some of the brightest minds from both radio and technology. Led by CEO Rob Williams, formerly of Clear Channel, and Drew Hilles, a founder of dMarc Broadcasting which was acquired by Google, GOOM has a number of unique services, such as MyGoom, aimed at reinventing radio for the internet generation. In its first month, GOOM attracted more than 1 million unique listeners.

Since 2007, TargetSpot has grown to become the nation's largest Internet radio advertising network with more than 15.3 million unique listeners per month through distribution partners such as CBS RADIO, FOX News, Yahoo! LAUNCHcast and AOL Radio. TargetSpot recently launched TargetSpot Analytics, a proprietary response tracking and reporting system that provides advertisers with deeper insight into their Internet radio campaigns.

About TargetSpot:

TargetSpot (www.targetspot.com) is the nation's largest Internet radio advertising network with more than 15.3 million unique listeners per month. TargetSpot connects top brands, interactive, network and spot radio advertisers as well as small and local businesses to the online listener. Advertisers can use TargetSpot's award-winning, self-service advertising platform or work with TargetSpot's full-service account management team to create, target (by geography, listening preferences and/or demographics) and deliver high-impact audio and pre-roll video advertising across thousands of Internet radio properties. TargetSpot has more than 70 distribution partners, including CBS RADIO, AOL Radio, Entercom, Live 365, Yahoo! LAUNCHcast and Nassau Broadcasting. The company is based in New York City and the company's investors include Bain Capital Ventures, Union Square Ventures and CBS RADIO.

About Goom Radio

GOOM Radio (www.goomradio.com) is a New York-based company that is reinventing radio for the Internet generation. GOOM offers music fans the chance to hear new content in high-quality audio, known as G-Sound, through online stations, from hip-hop to country to indie rock. The company is led by CEO Rob Williams, formerly of Clear Channel, and Drew Hilles, a founder of dMarc Broadcasting which was acquired by Google. GOOM Radio is funded by Wellington Partners Venture Capital, Elaia Partners and Partech International. The company currently provides content through branded stations hosted on partner sites including AllHipHop.com and GossipCenter.com.

GOOM Radio is currently available in alpha with an official launch scheduled for later this year, including more interactive features and tools.

Contact Information

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