ISpot.tv has raised $325 million from Goldman Sachs Asset Management, getting a fresh infusion of cash as it tries to unseat Nielsen as the go-to measurement firm for the TV advertising industry.
Goldman is buying a minority stake in the Bellevue, Washington-based business, according to a statement released Wednesday.
Nielsen, founded in 1923, has had its ratings form the basis for how TV ads are negotiated for decades. Advertisers bought commercials for specific shows and Nielsen’s ratings counted the audience. Last month, Nielsen agreed to be bought by a group of private equity firms for $16 billion.
Founded in 2012, iSpot had previously raised $58 million. The company said it generates more than $100 million in annual revenue and plans to use the new funding on product development and buying complementary businesses, among other things.
Read more: BNN Bloomberg
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