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Intertainment Media Inc. Closes Investment in Award Winning Advertising Technology-Shiny AdsCanada's Technology Incubator, Intertainment Media, Takes Stake in Toronto Advertising Technology Start Up (February 01, 2012)
NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO -- (Marketwire) -- 02/01/12 -- Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX: ITMTF)(FRANKFURT:I4T) announced today that it has finalized its early stage investment in Shiny Ads, an award winning advertising technology company, which specializes in the sell-side automation of premium inventory for online publishers.
Shiny Ads and its suite of products is well positioned to capture a share of the estimated $14 billion dollar self-serve ad market. Winner of the Foreign Affairs Technology Growth Initiative and chosen by the IDC as a top 10 digital company to watch, Shiny Ads currently counts an impressive list of clients including CBS Interactive, DeviantArt.com, Wikia.com, AdWeek.com, Unanimis.co.uk, and SourceInterlink as well a number of other tier one brands.
"Intertainment Media is very excited to close its investment in Shiny Ads. The potential for this advertising technology to successfully deploy on a global scale is, in our opinion, phenomenal. " said David Lucatch, CEO of Intertainment Media. "Intertainment Media is committed to its philosophy of investing, nurturing and developing leading edge technologies, digital and social media platforms and the Shiny Ads investment was a natural fit with that mandate."
"We are extremely happy to have an organization such as Intertainment Media share in our vision for our technology." said Roy Pereira, CEO and Founder of Shiny Ads. "We look forward to tapping into their experience and resources as we look to take Shiny Ads to the next level."
"The investment in the Shiny Ads platform provides a fantastic strategic opportunity for Intertainment Media's current portfolio of investments." said Brad Parry, CMO of Intertainment Media. "The ability to more efficiently direct premium advertisers to our available inventory across our multiple platforms will ensure that we are securing the best possible returns for our inventory."
The initial early stage investment of $250,000 will provide Intertainment Media with an ownership stake in Shiny Ads and also provides the opportunity for Intertainment Media to increase its investment by an equal amount within six months at today's valuation and will also provide Intertainment Media with a seat on the Shiny Ads board.
About Intertainment Media - www.intertainmentmedia.com
Intertainment Media Inc. is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in technologies and companies that provide technology solutions for brands and consumers alike.
Intertainment Media also owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo, Deal Frenzy and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com . For more information on the Company and its properties, please visit www.intertainmentmedia.com.
Headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX Exchange under the symbol "ITMTF". Intertainment is also traded in Europe, on the XETRA Exchange under the symbol "I4T".
About Shiny Ads - www.shinyads.com
Shiny Ads is an advertising technology company specializing in sell-side automation of premium inventory. The award-winning Self-Service Advertising Platform is a core product offering. With Shiny Ads, smaller advertisers are able to quickly and easily purchase advertising without the need of industry knowledge, graphic designers, or a large budget. Shiny Ads is NOT an ad network, nor does it solicit directly from advertisers or ad networks. Shiny Ads is a solutions provider that supports direct sales team and works in conjunction with ad networks - providing online publishers with access to an untapped revenue stream. Visit website at ShinyAds.com or check out the demo at vimeo.com/shinyads/intro.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Intertainment Media Inc.
800-395-9943 or 905-763-3510
Shiny Ads Inc.
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