AdExchanger.com: Some think that Fetchback sold before the market collapsed for their services due to factors such as Google opening up self-serve retargeting. How do you respond?
SC: Fetchback was approached by numerous parties late last year and early this year. The Company had no intention of selling but after turning down several offers and certain parties became more aggressive the board decided to hire us to run a limited process. Without going into specifics, the Company was exceeding its monthly budgets. Fetchback was very comfortable to stay a standalone entity but ultimately found a partner that could only accelerate its growth. This deal was not about the broader market or factors within it. This is a combination that ultimately was about winning and taking share.
Is the market for companies offering retargeting services drying up?
Given Fetchback's rapid growth as well as others we don't see the market drying up. Ultimately retargeting is a very effective way to enhance display advertising and its ROI and will help it gain share from other online channels. Display is a big opportunity and tools that enhance it will only gain further prominence in the market.