Goldman Sachs Asset Management will invest $325 million in iSpot.tv, breaking Nielsen’s long-held monopoly on TV ad measurement across broadcast and streaming platforms.
According to an announcement released Wednesday morning, the acquisition will give Goldman Sachs a “substantial minority share” in iSpot, ten years after the company was created.
iSpot is expected to be valued at more than $1 billion as a result of the investment, making it the latest Seattle-area tech startup to earn “unicorn” status.
iSpot announced that its yearly recurring revenues have topped $100 million as part of the fundraising announcement.
The privately held corporation, based in Bellevue, Washington, today employs more than 350 people. It had raised a total of $58 million prior to this acquisition.
NBCUniversal decided to pilot iSpot’s real-time ad measuring tools and data for the Beijing 2022 Winter Olympics, Super Bowl LVI, and other programming in the first quarter, prompting Goldman’s investment. In addition, for the 2022-23 TV season, NBCUniversal made iSpot’s data the norm in its talks with advertisers.
iSpot was also tested during the NCAA Men’s Basketball Tournament by WarnerMedia and Paramount.
Netflix’s recent announcement that it will extend beyond subscriptions into ad-supported content exemplifies the broader market for broadcast and streaming TV advertising’s growing potential.
In an interview with GeekWire, iSpot CEO Sean Muller remarked, “The firm is at a terrific crossroads right now.” “We decided now would be an excellent moment to raise [money] and prepare the company for the next stage of development.”
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