Chris Young '96 and Maria Klink '97 Lead Klipmart Through Acquisition by DoubleClick, Inc.
DoubleClick Acquires Klipmart to Accelerate Industry Innovation in Digital Video and Emerging Ad Formats
-Excerpted from Yahoo Financial News: NEW YORK, June 28 /PRNewswire/ -- DoubleClick Inc., the premier provider of digital advertising technology and services, today announced that it has acquired Klipmart, the nation's largest provider of online video advertising and management solutions for web publishers, agencies, and marketers. The acquisition puts DoubleClick at the forefront of the rapidly emerging online video market and will accelerate industry innovation in digital video and emerging advertising formats.
Klipmart brings to DoubleClick a strong record of creative innovation, video service and relationships with the community of creative agencies.
Klipmart CEO Chris Young '90 becomes Executive Vice President of Rich Media for DoubleClick and will report to DoubleClick CEO, David Rosenblatt. Young, who co-founded Klipmart in 2000 with Tristan Amzallag '98, Jesse Blockton '96 and Maria Klink '97, has successfully built it into a leading video advertising specialist. Amzallag and Klink also join DoubleClick's product management and service teams. Other Skidmore alums at Klipmart are Alvin Santos '96, Matt Schrag '96, and Rob Rossi '96.
Klipmart has focused on popularizing online video and its product suite is widely accepted by the web's premier publishers and interactive agencies, many of whom are also customers of DoubleClick. Leveraging DoubleClick's global market place presence, technological resources and R&D investments, the Klipmart innovation team will be well positioned to deliver video advertising across all electronic consumer platforms.
Klipmart was represented by The Jordan, Edmiston Group, Inc., a New York City based investment bank that specializes in the media and information industries. Financial terms of the transaction were not disclosed.
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