Search and Advertising Experts Join Forces to Launch Turn(TM), the World’s First Automatic Targeting Ad Network.
Publication: Date: Tuesday, November 7 2006
Turn’s Revolutionary Technology and Bidded Cost Per Action (CPA)
Pricing Deliver Amazing Simplicity, Dramatically Better Relevance and Higher Revenue for Advertisers and Publishers
Turn Also Announces It Has Secured Funding from Leading Investors Norwest Venture Partners, Trident Capital and Shasta Ventures
SAN MATEO, Calif. — Turn[TM] Inc. today introduced the world’s first automatic targeting advertising network. Two years in the making and currently in beta, Turn revolutionizes online advertising by simplifying ad management while reducing risk, improving relevance, and increasing revenue for advertisers and publishers. With more than 1,000 advertisers already participating, the Turn ad network offers automatic targeting of ads and unique bidded Cost Per Action (CPA) pricing based on advanced, patent-pending technology that eliminates the need for manual targeting or keywords. The company also announced today that it has received $18 million in financing. Investors include Norwest Venture Partners (NVP), Trident Capital and Shasta Ventures.
The Turn automatic targeting network provides advertisers a revolutionary option for online advertising campaigns. An advertiser simply inputs its ad into a self-serve console, and Turn does the rest. Turn goes beyond manual targeting by blending over 60 variables including site analysis, past performance, categories, audience, and action type to select the most relevant graphical and text ads. Turn’s technology dynamically selects and weights these variables to determine the best targets for each ad, eliminating the guesswork, time and complexity of manual targeting.
“We built the world’s first automatic targeting ad network in response to advertiser and publisher demand for a simplified, lower risk solution for online advertising that also improves relevance and revenue,” said Jim Barnett, CEO, Turn Inc. “The result is a revolutionary improvement in online advertising.”
An Online Advertising Revolution
Turn Co-Founder and Chief Executive Officer Jim Barnett and Co-Founder and Executive Vice President of Product and Technology John Ellis created Turn after transitioning AltaVista[TM] into Yahoo!(R)Search. Upon turning their attention to online advertising, they heard recurring themes from advertisers and publishers about the complexity, mediocre relevance and broken models of online advertising. Advertisers were overwhelmed by the cost and complexity of working with numerous manual networksCoeach with a single or limited targeting approach. Publishers similarly complained of the complexity of optimizing every ad placement on each of their pages and of the need for significant improvements in relevance. Barnett and Ellis believed that they could apply advanced search-like technology to solve these problems and revolutionize the world of online advertising.