Conde Nast Invests In Ad Platform Flite

Conde Nast on Monday announced making an undisclosed investment in cloud-based ad platform Flite, which it will also use to deliver rich media ads across its magazine Web sites. Flite's ad tools are meant to turn display ads in to app-like experiences by integrating features such as video, social media, live chat and e-commerce as well as the ability to update ad content on the fly.

Brands already using Flite nclude L'Oreal, CBS, General Mills, Microsoft and P&G. “Flite is a valuable addition to Conde Nast’s arsenal of development tools,” said Josh Stinchcomb, VP, corporate partnerships at Conde Nast, in a statement. The publisher operates 27 Web sites and 50 apps for mobile and tablet devices.

Flite, formerly Widgetbox, received $12 million in funding last year in relation to its rebranding in a venture round led by General Catalyst and including participation from Sequoia Capital, Hummer Winblad Venture Partners and NCD Investors.


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