Al­ti­tude’s merger aids video ads

Deal with Ge­n­e­sis Me­dia im­proves on­line as­pect

The Denver Post - - BUSINESS - By Ta­mara Chuang

Den­ver’s Al­ti­tude Digital said Thurs­day that it has merged with New York’s Ge­n­e­sis Me­dia in a move to make on­line video ad­ver­tis­ing more palat­able.

The Den­ver team will stay put at its Broadway of­fice, but the com­bined com­pany will be known as Ge­n­e­sis Me­dia and be head­quar­tered in New York. Mark Yack­anich is keep­ing his role as Ge­n­e­sis Me­dia CEO.

Joe Grover, Al­ti­tude’s CEO, be­comes pres­i­dent and chief mar­ket­ing of­fi­cer at Ge­n­e­sis. Other merger de­tails aren’t be­ing shared, in­clud­ing how many peo­ple work at ei­ther com­pany. Ac­cord­ing to an April 2016 Den­ver Post story, Al­ti­tude em­ployed 85 peo­ple.

But, Grover said, “This dou­bles the size of the com­pany in terms of head­count and more than dou­ble in terms of rev­enue.”

Al­ti­tude Digital, founded by Jeremy Oster­miller in 2009, was an early ad­ver­tis­ing-tech­nol­ogy com­pany fo­cus­ing on video in the Den­ver area. It cre­ated an on­line-bid­ding sys­tem for ad­ver­tis­ers to get ads in front of read­ers of publi­ca­tions such as USA To­day and Ziff Davis. It has also raised $22.5 mil­lion in debt and eq­uity fi­nanc­ing, which started with a $5 mil­lion Se­ries A round in 2013 led by Mer­cato Part­ners, where Grover left to join Al­ti­tude Digital as its chief mar­ket­ing of­fi­cer the same year.

Of course, it’s an up­hill battle of sorts. “I don’t think a user ever wants to see an ad, but it’s the way the pub­lisher is bal­anc­ing their busi­ness model,” Grover said.

AL­TI­TUDE

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