Magnetic Expands; Opens New Offices in LA and Buffalo, NY
NEW YORK – March 15, 2012 – Today, NYC-based search retargeting company Magnetic announced outstanding momentum, exceeding a 500% year over year revenue growth along with an increase in its staff of 250%. Additionally, the company has recently opened new offices in Los Angeles and Buffalo, NY and has plans to open a Chicago office in spring 2012.
“Since its inception, Magnetic has been 100 percent committed to helping advertisers and agencies leverage search data to drive better display ad performance and expand search campaigns,” said James Green, CEO of Magnetic. “Our expansion is a testament to the growing demand for search retargeting, and we’re excited to play a role in the industry-wide adoption of data-based targeting and utilization of search data.”
Magnetic was the first company to focus exclusively on search retargeting. The company’s technology is helping marketers achieve better display ad performance by integrating intent data from search with the scale of display advertising. With new offices this year, Magnetic is focused on penetrating sales opportunities on the west coast and central region of the United States. The Buffalo office will focus on attracting that region’s growing base of engineers.
Green adds, “The search waters are vast. Multiple environments, from vertical and e-commerce sites to shopping comparison engines, provide valuable data and represent a huge opportunity for search retargeting.”
To support company growth, Magnetic has expanded its staff across multiple departments including engineering and product, optimization, sales, client services and marketing.
For more information, visit: http://www. magnetic.com.
MagneticTM was founded in 2008 and represents the first company to focus 100% on search retargeting. Through Magnetic’s search retargeting technology, advertisers target users with display ads based on their search history. With billions of monthly searches, Magnetic’s scalable search data marketplace crunches hundreds of millions of keyword combinations giving marketers and agencies the ability to leverage search data, a key indicator of intent, beyond the search engine. Magnetic’s customer base includes Fortune 500 brands, the largest U.S. advertising agencies, ad networks, exchanges and demand side platforms. Magnetic is headquartered in New York City and funded by investors including Charles River Ventures, NYC Seed, Roger Ehrenberg’s IA Capital Partners, Founder Collective, New York City Investment Fund, Ron Conway and multiple angels. For more information, please visit http://www. magnetic.com.
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of over 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant audiences and profitable campaigns for our clients.