Say goodbye to Eyeblaster, and hello to MediaMind. Long pigeonholed as a provider rich media, the independent campaign management firm on Tuesday is expected to announce the rebranding of its entire company.
Why MediaMind? That's the name of its services platform -- which since it debuted last year, has proven to be the company's most successful endeavor ever, according to Gal Trifon, co-founder and CEO of MediaMind.
"Rebranding our company reflected the growing success of our MediaMind platform." said Trifon. "Its success has been a direct result of industry fragmentation, which has created a demand for an integrated platforms like MediaMind."
In March, Eyeblaster -- now MediaMind -- filed with the Securities and Exchange Commission to raise up to $115 million in an initial public offering of common stock. The company did not reveal how many shares it plans to sell, its expected price, or where it will be listed.
While Trifon was not at liberty to discuss the IPO directly, he said it was not directly related to the rebranding effort, but both initiatives would help lead the company into the future. He said that while the company was planning an advertising campaign around its rebranding effort, the IPO would likely limit its breadth.
The New York-based company actually filed for an IPO back in March 2008 when it was known as Eyeblaster, but had to cancel its plans due to rough market conditions. Hardly an anomaly, at least 26 tech companies canceled their IPOs that year, according to Thomson Reuters data.
Institutions and investors underwriting this latest IPO include J.P. Morgan Securities, Deutsche Bank Securities, Pacific Crest Securities LLC, FBR Capital Markets & Co, ThinkEquity, and Broadpoint Capital, according to a preliminary prospectus filed with the SEC.
Rooted in the world of rich media, MediaMind has more recently secured its position as an independent ad-serving platform through deals with heavyweights like GroupM's MediaCom last summer.
Earlier this year, MediaMind partnered with Strata, which is owned by Comcast Corp., on the launch of an "agency-based" ad-serving solution. The new product, developed with MediaMind's MediaMind product, offers integrated access to Eyeblaster to simplify campaign management and reduce the need to reenter campaign buys into multiple systems.
Meanwhile, late last year, MediaMind partnered with Dentsu America on its recently launched ad-serving service for agencies and advertisers. Dentsu is easily the largest ad agency in Japan -- the world's second-largest ad market after the U.S.
The MediaMind product was designed to look beyond clicks and demonstrate actual online advertising effectiveness through engagement metrics, Scott Daly, EVP and executive media director at Dentsu America, told Online Media Daily in December.
The partners pointed to recent research from eMarketer, which showed that in North America, expandable banners had only a 0.3% click-through rate, but show a 7.1% "dwell rate" -- or the percentage of users exposed to an ad who interact with it with their cursors -- and an average user "dwell time" of more than 45 seconds.
Last year, MediaMind reported delivering campaigns for over 7,000 brands, serving approximately 3,350 agencies across over 5,150 global Web publishers in 55 countries worldwide.