Comcast paying $320m for FreeWheel
March 3, 2014
Comcast is to pay about $320 million for FreeWheel, a company that inserts advertising in online videos for TV networks and distributors, according to reports.
The acquisition by Comcast is designed to boost its advertising revenues from online content. FreeWheel’s technology uses analytics to help marketers and media companies tailor their ads according to the device and type of video being watched. It also offers advisory and technology consulting services.
FreeWheel was founded by former employees of DoubleClick, a Google subsidiary that serves up advertisements on behalf of agencies and media companies. It has raised $37 million to date from backers including the venture capital arm of Walt Disney. Clients include NBCUniversal, AOL, Fox, Viacom and Sky.