Invite Media
(Post: English)
Drawing on Turner's experience as an intern at VideoEgg, where he came up with an idea to help the firm sell its excess inventory, the duo launched the company in 2007.
Turner calls the site a "Bloomberg machine for online media" that allows agencies to log in and buy advertising space on Web sites.
So far, Invite, which makes money by selling the ads, has landed $2.5 million in venture capital from First Round Capital and Genacast, and Turner says it is close to landing an additional $6 million from a Sand Hill Road firm.
Invite now has 25 employees, about 30 clients, and hopes to expand beyond online banner ads into other mediums such as online video.
Last year, the outfit was "pre-revenue" but expects to earn $5 million to $10 million in 2009 and turn profitable by the first quarter of 2010.
INFO:
The Company: Invite Media
What It Does: Online advertising buying platform
Founders: Nat Turner, 23; Zach Weinberg, 23; Scott Becker, 23; and Michael Provenzano, 23
Based: Philadelphia
Source: BusinessWeek
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