The startup has received a $40 million round from CBS, Interpublic Group, Lachlan Murdoch and other heavy-hitting investors. SpotRunner identifies unsold inventory on cable and broadcast networks and puts the spots up for sale, especially to small businesses. Ads are surprisingly inexpensive, especially when they’re targeted to local communities. For example, a 30-second spot on E! in Berkeley, CA costs just $23. Buyers can even create their own ads via an online tool for $499 and up. SpotRunner says it’s going to use the new investment to expand into online video, among other projects.
Advertisement