Megamillion-dollar rounds of funding for ad networks show that investors, despite the likelihood of a recession, continue to be dazzled by the glamor of online advertising. Glam raised $85 million (giving it a valuation of $500 million) and London-based Adconion raised $80 million. Their mega-valuations suggest that initial public offerings might be the only exit options for these two liberally funded players. Full details at Venture Beat.