Archive: February, 2012
Mike Armstrong, Inquirer Columnist
LiftDNA Inc., a 29-month-old online advertising technology firm in King of Prussia, has been purchased by a OpenX Technologies Inc., of Los Angeles.
Terms of the transaction between both privately held companies were not disclosed.
Launched in September 2009, LiftDNA helps Web-based publishers maximize revenue from their online advertising inventory -- the display advertising opportunities that have not be sold by a direct sales force.
LiftDNA was started by Kingchih Fan and Vadim Telyatnikov, who was one of the first dozen employees of New Hope-based myYearbook.com, a social-media site focused on teenagers.
In an interview, Telyatnikov said the idea for what would become LiftDNA emerged from his challenges at myYearbook.com in trying to monetize the inventory of unsold ad space. “I built a yield management system out of necessity,” he said.
Mike Armstrong, Inquirer Columnist
It's a green light for a big banking acquisition.
The Federal Reserve approved Capital One's $8.9 billion purchase of ING Direct, the online banking business based in Wilmington.
The combination of credit-card giant Capital One, with $127B in deposits, with ING Direct with $82B in deposits will create the nation's fifth-largest bank by deposits. (Trivia note of the day: The total amount of insured deposits in the U.S. was $8.9 trillion as of Sept. 30.)
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980.
Reach Mike at marmstrong@phillynews.com.
