Ad Network Turn Secures $15 Mil.
NEW YORK While the economy might be teetering, ad networks continue to secure funding. Turn is the latest to do so, closing a $15 million round led by Focus Ventures. The ad network has now raised $37.5 million overall.
San Mateo, Calif.-based Turn has earmarked the money for boosting its sales presence in New York and providing a cushion should the Internet economy take a downturn.
The rise of online ad networks is undeniable. According to a recent Interactive Advertising Bureau study, ad networks handled up to 30 percent of Web ad sales in 2007 — up from 5 percent a year earlier.
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