Q1Media Secures $8 Million in Financing
Silicon Valley Bank and Partners for Growth Provide Debt Facilities
(Austin, Texas) April 1, 2014— Q1Media, Inc., an online advertising technology company, announced that it has secured debt facilities totaling $8 million to expand its operations. Silicon Valley Bank provided $5 million in senior debt and Partners for Growth agreed to provide $3 million for a junior debt facility.
"We are pleased to enter this relationship with Silicon Valley Bank and Partners for Growth," stated Phil Banfield, CEO, Q1Media, Inc. "After a successful 2013 in which we experienced 90% revenue growth and achieved profitability, we now have the means to step up the pace of our expansion and more rapidly gain market share in the supply-focused Ad Tech space."
Q1Media works with web publishers to maximize their display and video advertising revenue across desktop, tablet and mobile platforms. Q1Media reaches over 200 million unique monthly visitors and generates over 500 million paid video ad views per month through its relationships with over 1500 web publishers.
"Helping the Q1Media team get to the next phase of business growth is exactly what we strive to do with specialized financing and banking services tailored to innovative companies of all sizes," said Travis Wood, Managing Director for Silicon Valley Bank. "Q1Media is taking advantage of the opportunity in the market, and we're glad to be there to support them as they continue to grow."
"We are excited to partner with Phil Banfield and his team at Q1Media as they continue to rapidly grow their business," said Jason Georgatos, Partner at Partners for Growth. "Q1Media's innovative products and technology allow it to stand out in the Ad Tech space and leave it poised for further growth and success."
Q1Media was founded in Austin, Texas in 2004. The company was recognized as one of the fastest-growing privately held companies in the United States in 2013 by INC Magazine. The Texas Association of Businesses named Q1Media as one of Texas' Best Places to Work in both 2013 and 2014.
Older Press Releases
Q1Media Joins 2013 Inc. 5000
August 26, 2013: Q1Media Named One of the Fastest-Growing Firms In the U.S.
(Austin, Texas) July 23, 2013— Inc. Magazine announced that Q1Media, an advertising technology and media company, was recognized as one of the fastest-growing privately held companies in the United States in 2013. Inc. Magazine selected Q1Media to join its Inc. 5000 list of privately-held high-growth firms. This year's list measures revenue growth from 2009 through 2012. Q1Media revenues grew 221% during this period. In Q1Media’s first year as a member of the Inc. 5000, it is ranked #1748.
"We are very proud to be recognized as one of fastest-growing companies in the U.S.," stated Phil Banfield, CEO, Q1Media. "It's proof that our advertising technology is meeting a market need for brand-safe video and mobile advertising inventory." Q1Media recently introduced Impact Ads - high performing desktop and mobile display ad units for web publishers, to expand its product suite that includes the vSlider™ and vMobile digital video ad units. Q1Media reaches over 100 million unique monthly visitors through its relationships with over 1500 web publishers.
To qualify for the Inc. 5000, companies must have been founded and generating revenue by March 31, 2009. All companies must be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies - as of December 31, 2012. The minimum revenue required for 2009 was $100,000; the minimum for 2012 was $2 million. Q1Media earned over $12 million in revenue in 2012.
"I am proud of our team for everything they have done to keep our company growing at such a fast pace," said Bill Wiemann, COO and co-founder of Q1Media. "The online advertising has evolved tremendously since 2009 and it requires real drive and determination to stay in a leadership position." Company leaders also credited Austin as a being an excellent location for growing a creative, technology-based company.
Q1Media was founded in Austin, Texas in 2004. In April of 2013, The Best Companies Group and the Texas Association of Businesses named Q1Media as one of Texas’ Best Places to Work.
Q1Media Study Indicates Females Watch 50% Fewer Online Videos Than Males
July 23, 2013: Females Far More Difficult to Reach with Online Video Ads
(Austin, Texas) July 23, 2013— Today, Q1Media, an advertising technology and media company, released an analysis it conducted to better understand certain characteristics of male and female consumers of Internet video content. Using May 2013 demographic and online usage data from comScore Video Metrix, Q1Media determined that significant gaps exist along gender lines when it comes to viewing mainstream online video content.
Key findings based on analysis of the data were:
• Females watch half as many videos per month as males do. Specifically, the data showed males watch 300 videos per viewer per month versus 149 per viewer for women.
• Males watch an average of 33% more videos per month than the average internet user.
• Females 35-54 watch 1/3 as many videos per month as Males 18-34.
• Females watch an average of 1/3 fewer videos per month than the average internet user.
"Given that US Internet usage has been documented to be even between females and males since 2008, this underrepresentation of females when it comes to viewing video content online definitely stands out," stated Phil Banfield, CEO, Q1Media. Other data appears to back up the lower viewing rates among females. comScore's Online Video: A Statistical Review, February, 2013 revealed that while females are equally likely to watch online video as their male counterparts, males watch 1.8 times as many online videos as females.
Online video content available on sites like VEVO and YouTube has traditionally served as the primary vehicle for delivering video advertisements, through the use of pre-roll ad units. This study indicates that females may be far more elusive to reach for advertisers who exclusively use pre-roll units on video sites whose audience skews primarily male.
"Women age 18-54 are a demographic segment advertisers will continue to have trouble reaching with pre-roll. To better connect with this valuable audience, brands must look beyond male-dominated "video sites" and focus on new opportunities to reach females with video ad units like our vSlider™," said Banfield. The vSlider™ is a high performing video ad unit that runs on standard content sites, many of which attract large female audiences.
Q1Media analyzed comScore Video Metrix data for May 2013. Specifically, the research focused on male and female Internet users between the ages of 18 to 54. The analysis compared total minutes of online videos watched and how many unduplicated videos males and females viewed. Data was broken down by age segments as well (18-24, 18-34, 25-34 and 35-54).
Q1Media Releases vMobile Video Ad Unit
May 28, 2013: Company Providing Mobile Ad Reach to New Audience Segments
(Austin, Texas) April 16, 2013— Today, Q1Media announced the official release of its vMobile video ad unit. Designed to serve top brands and advertising agencies looking for premium and 100% viewable mobile video advertising, Q1Media is responding to increasing marketplace acceptance of mobile advertising. A 2013 study by eMarketer predicted spending on mobile advertising will rise 77% from 2012 to hit to $7.29 billion in 2013.
Q1Media CEO Phil Banfield announces release of new mobile video advertising unit.
"In 2013, we've seen a significant increase in demand for mobile-web enabled video ads, in part because the flexibility, performance and reporting capabilities of this medium have improved," stated Phil Banfield, CEO, Q1Media. "Our existing AdExcite Video publisher base opted-in for mobile video ads at a high rate, which enabled us to offer considerable reach across mobile audiences immediately upon launch."
Q1Media has exclusive relationships with premium publishers like Artistdirect and strategic media partnerships encompassing video, mobile, and display with publishers like ChaCha.com, Examiner and Lifescript that offer a brand-safe environment and allow advertisers to reach audience segments that are underserved by existing display, video and mobile networks. Their vMobile video ad unit is IAB VAST compliant and compatible with both iOS and Android environments. The company expects to release their mobile display advertising unit – Impact Ad - later this year.
Q1Media Generates New Video Ad Inventory With AdExcite Video Exchange
April 16, 2013: Company’s Demand Partners Can Reach Unduplicated Video Viewing Audience
(Austin, Texas) April 16, 2013— Q1Media, Inc. reported that it has launched its AdExcite Video Exchange to provide critically-needed new online video ad inventory for the marketplace. Q1Media, a leading technology provider of programmatic advertising solutions, worked with LiveRail to create its private exchange with significant reach into a segment of the online audience not previously reachable via video advertising.
"Private exchanges like ours are now delivering the massive reach that major advertisers need. Demand partners trust the AdExcite Video Exchange because we can guarantee them 100% viewable, high quality video ad inventory at massive scale," stated Phil Banfield, CEO, Q1Media. The company currently reaches over 100 million unique video ad viewers a month according to comScore.
The AdExcite Video Exchange allows advertisers to target video ads to a large audience beyond standard sites like YouTube and Hulu. “We’re providing a greenfield source of inventory in brand safe environments and reaching an audience that hasn’t been hit with 20 video ads already,” said Banfield.
Q1Media worked with LiveRail to create a custom interface to their publisher monetization platform. The customizations allow publishers to run Q1Media’s innovative vSlider™ video ad unit as well as standard pre-roll ads. "We're thrilled to be working with Q1Media to help bring their private exchange to market. As the video dollars being transacted programmatically continue to grow, the need for that demand to be matched with high quality video placements has never been greater. The AdExcite Video Exchange does just that," stated Mark Trefgarne, CEO and Co-Founder of LiveRail.
Online Advertising Technology Firm Recognized by Texas Association of Businesses
April 8, 2013: Company’s Demand Partners Can Reach Unduplicated Video Viewing Audience
AUSTIN, Texas--(BUSINESS WIRE)--Q1Media was named the 19th best company to work for in Texas by the Texas Association of Businesses. Q1Media, a leading technology provider of programmatic advertising platforms, was recognized for its high levels of employee engagement and satisfaction, positive corporate culture and leadership.
In 2011, Q1Media began executing a strategic plan to bring the advertising and web publishing industries a technology platform that delivers more efficiency and value to programmatic buying and selling of online advertising. Online ad spending in 2012 passed the $100-billion mark and is projected to increase by a further 15.1% in 2013 to $118.4 billion. Programmatic buying and selling of display and video ads are accounting for an increasing percentage of the spending growth in the category.
The Q1Media team faced a challenging task – developing technology that sits on top of the largest programmatic exchanges for online display, video and mobile advertising. Their goal was to deliver a flexible platform that would make the process far more efficient for ad agency trading desks and major brands buying online ads and create more value for web publishers providing critically needed ad inventory.
“Delivering a new ad platform for a demanding market has been hard work for everyone at Q1Media,” stated CEO Phil Banfield. “But that process brought out the best in the entire team and helped build a positive work environment that’s now been recognized as one of the best in Texas.”
Q1Media recently completed a merger with AdExcite, a top 10 comScore video advertising platform. The combined companies will operate as Q1Media and plan to hire 25 additional employees in 2013 at their Austin, Texas headquarters.
Q1Media Completes Merger with AdExcite
March 20, 2013: Fast Growing Firms Combine Strengths in Online Display, Video and Mobile Ad Solutions
AUSTIN, Texas--(BUSINESS WIRE)--Today, Q1Media announced the completion of its merger with AdExcite. Founded in 2004, Q1Media is a market-leading display advertising network with a reach of over 150 million monthly U.S. unique visitors (comScore). AdExcite, formed in 2009, is a comScore top 5 video ad network. Q1Media will now be able to provide comprehensive solutions to advertising agencies and major brands looking to connect with consumers online regardless of what device they are using through display, video and mobile web advertising. The newly formed company will operate as Q1Media, Inc. with AdExcite remaining as the brand name for Q1Media’s video and mobile video product lines. AdExcite co-founder Phil Banfield will serve as Q1Media’s CEO. Bill Wiemann, Q1Media’s founder and CEO, will serve as President and COO.
"Adding AdExcite’s proprietary online and mobile video advertising technology to the real time bidding and ad targeting platforms we’ve built at Q1Media allows us to offer broader and more immersive digital advertising solutions,” stated Wiemann. “Phil and his team have done a remarkable job growing AdExcite’s video advertising network. I welcome his leadership as we become a single entity with the power to rapidly create greenfield online advertising inventory while building better value for web publishers.”
AdExcite’s proprietary ad units - the vSlider™ and vPlayer - allow any web publisher to enhance its site with video advertising. The vSlider™ and vPlayer’s design produces a high-impact, highperforming ad unit that is always in-view and does not block primary content on the webpage. The success of the vSlider™ unit with publishers and advertisers resulted in massive growth for AdExcite in 2012, making it a comScore top 5 Video Metrix property. AdExcite currently controls about one third of the video advertising reach in the US.
Prior to the merger, AdExcite’s inventory was sold through a partnership with Q1Media, and Q1Media used its access to AdExcite’s video capabilities in order to scale its premium direct sales business. “With the merger, Q1Media will be able to accelerate its growth by offering publishers and advertisers a unified technology platform for buying and selling display and multi-platform video advertising,” said Phil Banfield, CEO of Q1Media, Inc.
Q1Media will maintain its headquarters in Austin. The company currently employs 30 full time team members and expects to add up to 25 employees in Austin, Los Angeles and New York in 2013. In 2012, Q1Media was named as one of Texas’ 100 Best Places to Work by the Best Companies Group and its partners, the Texas Association of Business and the Society for Human Resource Management—Texas State Council.
AdExcite Video Ad Network Debuts in Top Ten on Video Metrix; comScore Verifies AdExcite's Deep Reach with over 90 Million Unique Monthly Viewers
November 15, 2012: AdExcite debuted strongly on comScore’s Video Metrix report for October 2012, reporting over 90 million unique viewers for online video ads displayed on the AdExcite Video Network. AdExcite ranked number seven based on unique monthly viewers in October 2012.
AdExcite debuted on comScore’s Video Metrix report for October 2012, reporting over 90 million unique viewers for ads displayed on the AdExcite Video Network. AdExcite ranked number seven based on unique monthly viewers in October. Video Metrix officially began tracking the AdExcite Video Network with comprehensive traffic reporting and key demographic data for all its online video ad units, including its proprietary vSlider™ video interstitial.
“Third party verification of our extensive reach clearly positions AdExcite as a top-tier video ad network, and gives advertisers the validation they need to choose us,” stated Phil Banfield, CEO of AdExcite.“Because our reach is exclusive and not simply based on the same video sites used by most other video ad networks, we are adding massive, unduplicated reach to the entire industry, effectively doubling the audience of video ad viewers.” AdExcite maintains a growing network of over 1000 web domains that reach over 100 million unique visitors every month.
AdExcite delivers standard preroll ads as well as its proprietary vSlider™ and vPlayer units. The vSlider™ interstitial unit allows a video to be displayed without blocking out the view of the page users are coming to see or making a user wait to view content. The vPlayer is a large scale video ad unit that delivers 100% share of voice and can be custom skinned.
“With proprietary ad units and a network of passion point websites featuring primarily editorial rather than video content, AdExcite has taken a different growth path,” says Griffin Davis, Vice President, Marketing and Public Relations for Q1Media and AdExcite. “We are proud to share this strong showing in our first month on Video Metrix with our publisher partners and advertisers.”