Media buyers approach Adconion to buy advertising space on the internet. The company raised £40m of investment in 2008 from a consortium led by Index Ventures, and in May this year announced a £21m financing package from Silicon Valley Bank to fund acquisitions and international expansion. Adconion’s previous acquisitions include some of the assets of Joost, an online video service, bought in 2009 and the direct marketing firm Frontline Direct in 2008. Run by American serial entrepreneur Tyler Moebius, the company has offices in eight countries and grew sales 110% a year from £15.9m in 2007 to £148m in 2010.
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