IGA Worldwide, Inc. Coverage Report for News Release of Series B Funding
July 12, 2007
Crain’s New York
Video game ad firm Raised $25M in VC funding
Amanda Fung
http://www.newyorkbusiness.com/apps/pbcs.dll/article?AID=/20070712/FREE/70712008/1064
Develop
IGA gets $25m
Michael French
http://www.developmag.com/news/28080/IGA-gets-25m
Digital Media Wire
In-Game Ad Network IGA Worldwide Raises $25 Million
Mark Hefflinger
http://www.dmwmedia.com/news/2007/07/12/in-game-ad-network-iga-worldwide-raises-25-million
iMedia
IGA Raises $25M, Games Get Real
Michael Estrin
http://www.imediaconnection.com/news/15775.asp
Gamasutra
IGA Secures $25m In New Funding
David Jenkins
http://www.gamasutra.com/php-bin/news_index.php?story=14662
GameDaily
IGA Gets $25 Million in Funding
David Radd
http://biz.gamedaily.com/industry/news/?id=16776
paidContent.org
In-Game Ad Net IGA Wordwide Raises $25 Million Second Round From GE/NBCU’s Peacock Equity, Others
Staci D. Kramer
Red Herring
In-Game Ad Network Scores $25M
Ken Schachter
**NOTE: Red Herring to change errors to read IGA throughout
http://redherring.com/Article.aspx?a=22864&hed=In-Game+Ad+Network+Scores+$25M
Reuters
IGA Worldwide wins $25 million in funding
Paul Thomasch
http://www.reuters.com/article/fundsFundsNews/idUSN1236170720070712
VentureBeat
IGA raises $25 million to capture future in-game ad market
Eric Eldon
http://venturebeat.com/2007/07/12/iga-raises-25-million-to-capture-future-in-game-market/
Virtual World News
In-Game Advertising Co. IGA Worldwide Avoiding Virtual Worlds
Joey Seiler
http://www.virtualworldsnews.com/2007/07/in-game-adverti.html#more
Full Article Coverage:
July 12, 2007
Crain’s New York
Video game ad firm Raised $25M in VC funding
07.12.07
Amanda Fung
http://www.newyorkbusiness.com/apps/pbcs.dll/article?AID=/20070712/FREE/70712008/1064
IGA Worldwide Inc. announced Thursday that it raised $25 million from venture capital firms to help expand its reach into Asia.
The financing for the Manhattan video game advertising firm was led by Peacock Equity, a $250 million fund created by GE Commercial Finance and NBC Universal in April, and KTB Ventures, the United States arm of Korean private equity shop KTBnetwork. IGA’s existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital, also contributed to the round of financing.
“Having GE and NBC as investors allows us to remain nimble as an independent company,” says Justin Townsend, IGA chief executive, adding that the company’s new backers will help it compete against the likes of Microsoft’s Manhattan video game ad firm , Massive Inc. and Google’s San Francisco-based Adscape Media Inc.
IGA specializes in inserting ads into video games. The in-game advertising industry is expected to be the fastest-growing type of video game ad, passing $800 million in spending in 2012, up from $55 million in 2006, according to research firm Parks Associates. Video game advertising spending will pass $2 billion in 2012, up more than five-fold from 2006.
“IGA stood out for its management team and ad agency approach,” says Thomas Byrne, managing director and group head for Peacock Equity. “We think they are well positioned to do well going forward.”
The company, which has 70 employees in the United States and Europe, plans to use the cash infusion to open new offices in Japan, Korea and China during the third quarter. IGA delivers ads on behalf of top brands like Coke and Jeep to 30 video games created by major game publishers like Electronic Arts. Mr. Townsend expects to have 100 games in its network by year end.
Develop
IGA gets $25m
07.12.07
Michael French
http://www.developmag.com/news/28080/IGA-gets-25m
Series B funding round boosts in-game advertising company
In-game ad firm IGA has raised $25m in series B funding.
GE/NBC Universal’s Peacock Equity and KTB Ventures led the round along with existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital. The money will be spent on further growing IGA's business.
“We are very pleased that GE/NBC Universal’s Peacock Equity and KTB Ventures have joined this round of funding along with our existing investors,” said Justin Townsend, Chief Executive Officer, IGA Worldwide. “This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest ROI to advertisers and publishers alike.”
“IGA Worldwide is an important investment for Peacock Equity,“ said Thomas Byrne, Managing Director and Group Head, Peacock Equity. “The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry.”
"Given the significant market potential for in-game advertising, the interest level was very high among strategic investors as expected,” said Christian Vry, Chief Strategy Officer, IGA Worldwide. “We expect to announce other key relationships with publishers, advertisers and other investors in the near future.”
Digital Media Wire
In-Game Ad Network IGA Worldwide Raises $25 Million
07.12.07
Mark Hefflinger
http://www.dmwmedia.com/news/2007/07/12/in-game-ad-network-iga-worldwide-raises-25-million
In-game advertising network IGA Worldwide announced on Thursday that it has raised $25 million in its second round of venture capital financing, co-led by GE/NBC Universal's Peacock Equity and KTB Ventures.
Previous investors Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital also participated.
Los Angeles-based IGA Worldwide provides in-game ads for titles from publishers including EA, Atari, Acclaim and Valve, and has managed campaigns for advertisers including 20th Century Fox, Ben Sherman, Intel, Jeep and MTV.
The company said the new funds will allow it to further expand its global in-game advertising footprint.
Gamasutra
IGA Secures $25m In New Funding
07.12.07
David Jenkins
http://www.gamasutra.com/php-bin/news_index.php?story=14662
IGA Secures $25m In New Funding Officials from in-game advertising network IGA Worldwide have announced that the company has raised $25 million in a new round of Series B funding. Investments were led by GE/NBC Universal’s Peacock Equity and KTB Ventures, as well as existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital.
Specific uses for the new funding were not mentioned, with IGA instead emphasizing the potential future grown of the in-game advertising market, which it claims will exceed $2 billion by 2012 – growing more than five times faster than any other major advertising medium.
IGA Worldwide already has a wide range of prominent clients including Electronic Arts, Codemasters, Valve, Eidos, Atari and Acclaim. As such their advertising technology has been used in titles including Battlefield 2142, Counter-Strike, Test Drive Unlimited and Colin McRae: DiRT.
“We are very pleased that GE/NBC Universal’s Peacock Equity and KTB Ventures have joined this round of funding along with our existing investors,” said IGA CEO Justin Townsend. “This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest return on investment to advertisers and publishers alike.”
“Given the significant market potential for in-game advertising, the interest level was very high among strategic investors as expected,” said Christian Vry, chief strategy officer at IGA. “We expect to announce other key relationships with publishers, advertisers and other investors in the near future.”
GameDaily
IGA Gets $25 Million in Funding
07.12.07
David Radd
http://biz.gamedaily.com/industry/news/?id=16776
Round led by GE/NBC Universal's Peacock Equity and KTB Ventures
IGA Worldwide announced today that it has raised $25 million in funding. This Series B round was led by GE/NBC Universal's Peacock Equity and KTB Ventures with contributions by Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital. IGA will use these resources to strengthen its position in the growing in-game advertising sector.
"We are very pleased that GE/NBC Universal's Peacock Equity and KTB Ventures have joined this round of funding along with our existing investors," said Justin Townsend, CEO of IGA Worldwide. "This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest ROI to advertisers and publishers alike."
"IGA Worldwide is an important investment for Peacock Equity," said Thomas Byrne, Managing Director and Group Head, Peacock Equity. "The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry."
"Given the significant market potential for in-game advertising, the interest level was very high among strategic investors as expected," said Christian Vry, Chief Strategy Officer, IGA Worldwide. "We expect to announce other key relationships with publishers, advertisers and other investors in the near future."
iMedia
IGA Raises $25M, Games Get Real
07.12.07
Michael Estrin
http://www.imediaconnection.com/news/15775.asp
IGA Worldwide has landed $25 million in its second round of financing, with GE/NBCU's Peacock Equity fund and KTB Ventures stepping up to the plate to capitalize the in-game ad network.
"We are very pleased that GE/NBC Universal's Peacock Equity and KTB Ventures have joined this round of funding along with our existing investors," said Justin Townsend, CEO, IGA Worldwide. "This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest ROI to advertisers and publishers alike."
According to the Yankee Group, in-game advertising is expected to grow to $732 million by 2010.
Next Generation
IGA Nets $25m in Funding
07.12.07
Tom Ivan
http://www.next-gen.biz/index.php?option=com_content&task=view&id=6386&Itemid=2
IGA Worldwide has secured $25 million in Series B funding which will be used to strengthen its position as a leading independent in-game advertising network.
ImageGE/NBC Universal’s Peacock Equity and KTB Ventures led the round along with existing investors, Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital.
“This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint and ability to deliver the highest ROI to advertisers and publishers alike,” said Justin Townsend, IGA Worldwide CEO.
“IGA Worldwide is an important investment for Peacock Equity,“ said Thomas Byrne, managing director and group head, Peacock Equity. “The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry.”
“We expect to announce other key relationships with publishers, advertisers and other investors in the near future.” added Christian Vry, IGA’s chief strategy officer.
According to research firm Parks Associates, in-game advertising spending is set to exceed the $2 billion mark by 2012.
paidContent.org
In-Game Ad Net IGA Wordwide Raises $25 Million Second Round From GE/NBCU’s Peacock Equity, Others
07.12.07
Staci D. Kramer
In-game ad network IGA Worldwide has raised $25 million in a second round led by GE/NBCU’s new Peacock Equity fund and KTB Ventures. Existing investors Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital also took part. The company now has raised a total of $42 million. The first round closed at $17 million this time last year (it was first announced as $12 million but Intel added another $5 million).
From the announcement, Peacock Equity’s Thomas Byrne explaining the investment: “The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry.”
The Peacock Fund’s first investment, even before it had a cute name, also was in advertising—$3 million in ad tech company Adify. Peacock’s mission is to invest $3-15 million per company in technology that can be used as NBCU builds out online.
Red Herring
In-Game Ad Network Scores $25M
07.12.07
Ken Schachter
**NOTE: Red Herring to change errors to read IGA throughout
http://redherring.com/Article.aspx?a=22864&hed=In-Game+Ad+Network+Scores+$25M
Solidifying gaming’s rise as a nascent advertising medium, the new investment arm of GE/NBC Universal co-led a $25 million funding round with KTB Ventures for IGA Worldwide, the companies announced Thursday.
IGA works with companies like Burger King, MTV, Intel, Jeep, and wireless carrier T-Mobile to insert advertisements into games published by market leader Electronic Arts as well as Valve, Atari, Codemasters, and others.
Greg Blonder, partner at Morgenthaler Ventures and a member of IDG’s board of directors, said that as audiences migrate away from television and newspapers, the potential of computer games as an advertising medium is barely being scratched.
EMarketer forecast that spending on in-game advertising would almost double between 2007 and 2011, going from $1 billion to $1.9 billion.
Based on the hours gamers spend playing their favorite titles, the advertising market already should be worth $10 billion, Mr. Blonder said. “The reason it isn’t is because in a medieval fantasy game, there isn’t an obvious place to put advertisements.”
In-game advertising companies seek to place commercial messages in context. For instance, in a racing game, IDG could alter the make and model of the car, change the brand of the energy drink, or insert a message on a billboard.
Justin Townsend, IGA’s chief executive and co-founder, said the funding would be used to expand beyond the current European outposts of the U.K. and Germany and to open offices in Korea, Japan, and China by the end of the third quarter.
The investment by Peacock Equity, the $250 million fund founded by GE/NBC Universal, brings a conglomerate with old-media TV and movie interests into a digital business still in its formative stages.
Mr. Blonder said many VCs believed old media companies would take forever to understand the power of the Internet. Now that they’ve grasped the importance of new media, they become “partners rather than prey,” bringing institutional knowledge of advertising.
Three-month-old Peacock Equity made its first investment in April, putting $3 million in Adify, a creator of customized ad networks.
Having a heavyweight like GE/NBC Universal in its corner is comforting for 3-year-old IGA as it faces competitors Massive, acquired by Microsoft in 2006, and Adscape Media, bought by Google in February, Mr. Townsend said.
Also joining in the series B round for IDG were prior investors Morgenthaler, Easton Capital, Intel Capital, and DN Capital.
About 10 percent to 15 percent of games now take advertisements, Mr. Townsend said, but the number should increase as publishers of top-tier titles increasingly seek to defray the $20 million to $30 million in average production costs per game.
Mr. Blonder said IDG’s technology could be extended beyond games into meeting, training, and education tools.
Reuters
IGA Worldwide wins $25 million in funding
07.12.07
Paul Thomasch
http://www.reuters.com/article/fundsFundsNews/idUSN1236170720070712
IGA Worldwide Inc, which provides advertising within video games, on Thursday said it raised $25 million in funding, tapping venture capital firms including one run by General Electric Co and its NBC/Universal unit.
In-game advertising is emerging as a popular new area of marketing, as companies such as Burger King, Subway, Coca-Cola Co. and Honda Motor Co. Ltd. have already jumped into the space.
Some analysts forecast that the market could top $1 billion in revenue by 2010 as advertisers chase key youth and young adult audiences that are spending less time on television and more time with games and the Internet.
New York-based IGA Worldwide's campaigns includes those for brands such as News Corp's 20th Century Fox, Hawaiian Airlines and Viacom's MTV .
For GE/NBC Universal, it marks another investment by its Peacock Equity fund in the video game sector. Last week, it was part of a group that invested $30 million in Trion World Network Inc, a video game publisher and developer.
"IGA Worldwide is an important investment for Peacock Equity," Thomas Byrne, managing director and group head, Peacock Equity, said in a statement. "The gaming industry is one of the major focuses for our Fund and has high growth potential that can shape the future of the new media advertising industry."
Other participants in the IGA funding included KTB Ventures Easton Capital, Morgenthaler Ventures, Intel Capital and DN Capital.
VentureBeat
IGA raises $25 million to capture future in-game ad market
07.12.07
Eric Eldon
http://venturebeat.com/2007/07/12/iga-raises-25-million-to-capture-future-in-game-market/
IGA Worldwide, a New York-based provider of advertising that appears within video games, has raised $25 million from a collection of venture capital, private equity and large media firms.
The potential market for in-game advertising is big, even as some analysts trying to measure it are prone to hype. It made only $55 million last year, but is expected to pass $800 million in 2012 with total video game ad spending reaching $2 billion that year, according to Park Associates.
IGA claims to be the largest independent in-game advertising company using an ad-serving network. It helps advertisers target video-game players across gaming platforms and genres, and works with game developers to try to make the advertising relevant.
Greg Blonder, a partner at Morgenthaler Ventures who was an early investor in IGA, says that in-game advertising is starting to become acceptable to game players and publishers — even though both groups were nervous at first.
Competitors include Microsoft, rival Massive last year, allowing it to include in-game advertising as another option for its advertising network. According to Blonder, Microsoft doesn’t have the cultural DNA to put ads into games in a way that users are comfortable with, something he thinks IGA’s executive team understands better because of their backgrounds in game publishing and advertising.
An interesting startup working on a similar idea is Mochi Media’s MochiAds. It lets game developers build games in Flash and include advertising, then splits the revenue with them.
IGA says the market potential is what created interest among strategic investors. The company has run ads for Discovery, FHM, Intel, MTV, T-Mobile and others. It also provides a communications consultancy, called Hive.
A lead investors in this round, GE/NBC Universal’s Peacock Equity, said that the gaming industry has growth potential “that can shape the future of the new media advertising industry.”
It will probably be another generation of video ga