Spot Runner
Encyclopedia
Headquartered in Los Angeles, Spot Runner develops technology platforms and delivers services for video advertising, namely broadcast, cable and online video. Spot Runner’s mission is to leverage technology and data to transform the way advertising is created, planned, bought, sold and optimized in order to maximize value, at scale, for media owners, agencies and advertisers.
Spot Runner was originally created based on the idea that the Internet could help make television advertising more affordable and accessible for local businesses in order to level the playing field against larger competitors. Spot Runner developed a platform for local TV advertising that helped to automate and increase the efficiency of the creative and planning process. However, the media buying process remained a manual task that required phone calls, email and faxes. The company quickly realized there was a great need industry-wide for a more efficient buying process and it set about to build that new technology solution. After more than two years of development, Spot Runner recently launched the Malibu Media Platform, a web-based technology platform that improves the process of buying and selling television advertising to benefit media sellers, ad agencies and their clients.
Spot Runner’s Malibu Media Platforms Group oversees the Malibu Media Platform, a
web-based technology platform that improves the process of buying and selling television advertising to benefit media sellers, ad agencies and their clients. Malibu offers media sellers an effective way to reach, sell and service media buyers while offering media buyers a more efficient way to find, buy and measure television advertising. Spot Runner launched the Malibu Media Platform on November 19, 2009.
Spot Runner’s Marketing Services Group offers branded direct response marketing services for off-line and digital national advertisers, leveraging the best practices of strategic planning, creative, media planning/buying and analytics for mid-enterprise companies.
enacted several rounds of layoffs in late 2008 and early 2009.
Lawsuits
On April 9, 2009, WPP, a minority shareholder, filed a complaint against Spot Runner in the United States District Court for the Central District of California. WPP alleged that Spot Runner’s board members failed to disclose to WPP the stock sales of other investors, in violation of the board’s obligations to stockholders, among other things.
Spot Runner subsequently filed a motion to dismiss, which basically asked the court to throw out the complaint. In September, 2009, the court granted Spot Runner’s motion and dismissed WPP’s complaint with “leave to amend.” That gave WPP the right to re-file and try to correct the various defects in their case. Despite the dismissal, WPP chose to continue pursuing the case by re-filing. Spot Runner filed a motion to dismiss again and is currently awaiting the court’s ruling.
and Battery Ventures
in early 2005, disclosed at the company's launch on January 11, 2006. The start-up received another financial boost on October 30, 2006, when the company announced that WPP Group
, CBS Corporation
and Interpublic Group, in addition to other key investors led by Lachlan Murdoch
, had made equity investments in the company. The company also announced a round of funding in May 2008 from global media leaders Daily Mail and General Trust (DMGT) and Gruupo Televisa, along with Legg Mason and Group Arnault/LVMH.
In total, the company has raised $111 million..
History
Spot Runner was founded in 2004 by co-founders Nick Grouf and David Waxman.Spot Runner was originally created based on the idea that the Internet could help make television advertising more affordable and accessible for local businesses in order to level the playing field against larger competitors. Spot Runner developed a platform for local TV advertising that helped to automate and increase the efficiency of the creative and planning process. However, the media buying process remained a manual task that required phone calls, email and faxes. The company quickly realized there was a great need industry-wide for a more efficient buying process and it set about to build that new technology solution. After more than two years of development, Spot Runner recently launched the Malibu Media Platform, a web-based technology platform that improves the process of buying and selling television advertising to benefit media sellers, ad agencies and their clients.
Business divisions
Spot Runner is divided into two primary lines of business: the Malibu Media Platforms Group and the Marketing Services Group:Spot Runner’s Malibu Media Platforms Group oversees the Malibu Media Platform, a
web-based technology platform that improves the process of buying and selling television advertising to benefit media sellers, ad agencies and their clients. Malibu offers media sellers an effective way to reach, sell and service media buyers while offering media buyers a more efficient way to find, buy and measure television advertising. Spot Runner launched the Malibu Media Platform on November 19, 2009.
Spot Runner’s Marketing Services Group offers branded direct response marketing services for off-line and digital national advertisers, leveraging the best practices of strategic planning, creative, media planning/buying and analytics for mid-enterprise companies.
Funding
Spot Runner has raised more than $100 million to date. Its investors include CBS, Daily Mail and General Trust, Interpublic Group, Grupo Televisa S.A.B., Groupe Arnault/LVMH, Allen & Company, Legg Mason, Tudor Investment Corporation, Capital Research and Management, Lachlan Murdoch, Vivi Nevo, Index Ventures and Battery Ventures.Criticism and controversy
Impacted by the recession and companies pulling back their marketing spend, Spot Runnerenacted several rounds of layoffs in late 2008 and early 2009.
Lawsuits
On April 9, 2009, WPP, a minority shareholder, filed a complaint against Spot Runner in the United States District Court for the Central District of California. WPP alleged that Spot Runner’s board members failed to disclose to WPP the stock sales of other investors, in violation of the board’s obligations to stockholders, among other things.
Spot Runner subsequently filed a motion to dismiss, which basically asked the court to throw out the complaint. In September, 2009, the court granted Spot Runner’s motion and dismissed WPP’s complaint with “leave to amend.” That gave WPP the right to re-file and try to correct the various defects in their case. Despite the dismissal, WPP chose to continue pursuing the case by re-filing. Spot Runner filed a motion to dismiss again and is currently awaiting the court’s ruling.
Audience
Spot Runner serves three primary audiences: advertisers, media owners and advertising agencies. In order to address the needs of these audiences, Spot Runner is divided into two primary lines of business: the Marketing Services Group and Media Platforms. Spot Runner’s Marketing Services Group offers advertising services for TV and online video. Marketing Service’s offers targeted advertising (including creative services, analytics and dashboards, and media planning and buying) for businesses and use technology to measure the impact of and bring accountability to offline media. Spot Runner’s Media Platforms Group supports media owners, agencies and advertisers in selling, planning, buying, trafficking, measuring and optimizing advertising campaigns with their technology. The group’s first product, Project Malibu, is an all-digital marketplace for all forms of video and TV advertising.Funding
Spot Runner received $10 million in its Series A financing from Index VenturesIndex Ventures
Index Ventures is a venture capital investment firm based in Geneva, Switzerland, with offices in London, Jersey, and starting in 2011, Silcon Valley. The firm was founded in 1996 by Neil Rimer and Giuseppe Zocco. Since its inception, the firm has raised four main venture funds and a growth...
and Battery Ventures
Battery Ventures
Battery Ventures is a venture capital firm that invests principally in technology markets including: Internet & Digital Media; Financial & Information Services; Cleantech; Software; Semiconductors & Components; Infrastructure Technologies; Communication Services; and Industrial Technologies.The...
in early 2005, disclosed at the company's launch on January 11, 2006. The start-up received another financial boost on October 30, 2006, when the company announced that WPP Group
WPP Group
WPP plc is a global media communications services company with its main management office in London, United Kingdom and its executive office in Dublin, Ireland. It is the world's largest advertising group by revenues, and employs over 150,000 people in 2,400 offices in 107 countries...
, CBS Corporation
CBS Corporation
CBS Corporation is an American media conglomerate focused on commercial broadcasting, publishing, billboards and television production, with most of its operations in the United States. The President and CEO of the company is Leslie Moonves. Sumner Redstone, owner of National Amusements, is CBS's...
and Interpublic Group, in addition to other key investors led by Lachlan Murdoch
Lachlan Murdoch
Lachlan Keith Murdoch is the eldest son of Australian-American media mogul Rupert Murdoch and his second wife Anna Torv. He resigned from his executive positions at News Corporation on 29 July 2005...
, had made equity investments in the company. The company also announced a round of funding in May 2008 from global media leaders Daily Mail and General Trust (DMGT) and Gruupo Televisa, along with Legg Mason and Group Arnault/LVMH.
In total, the company has raised $111 million..