On 11th March, 2008, Target Spot announced its’ most recent investment deal. The announcement made it clear, that Target Spot was going to receive huge funding worth $8.6 million from four companies namely, Bain Capital Ventures, CBS Corp., Union Square Ventures and Milestone Venture Partners.
Target Spot Business Deal of the most recent times was announced on 11th March, 2008. Through this announcement, the company informed about an investment deal. It was revealed that, through this investment deal, Target Spot would receive a huge investment worth $8.6 million from four companies.
Details of the Deal
On 11th March 2008, Target Spot announced that it has completed the transactions of the investment deal. The company informed that, it has received $8.6 million in its’ Series B Round of Financing. This investment round was led by Bain Capital Ventures.
The other companies that participated in this investment deal, were CBS Corp., Union Square Ventures and Milestone Venture Partners.
It was declared that, according to the terms and conditions of the deal, Jeffrey Glass, Partner, Bain Capital Ventures, would join the Board of Directors of Target Spot.
The company informed that, it would use the funds, received through the investment deal, in expanding the team of technologists and the team of sales professionals, so that Target Spot could become a leading advertising network in the Internet radio industry.
In respect of this investment deal, Jeffrey Glass, Partner, Bain Capital Ventures, revealed that, Bain Capital Ventures took part in the investment deal, as it believes that Target Spot possesses huge growth potential. He also stated that, Target Spot’s ad creation platform and the proper customer targeting has enabled Target Spot in gaining a strong position in the market.
On the other hand, Doug Perlson, CEO, Target Spot opined that, as Bain Capital Ventures has a thorough understanding of interactive marketing space, Target Spot hopes that using the experience and understanding of Bain Capital Ventures, it would be able to grow significantly.