You’re reading it here first: New York Times, which is building up a sizable portfolio of new media investments, has invested in another rather-interesting startup: Root Markets. The company announced its $10 million funding round earlier this year…The round has closed at $12 million, and NYT has invested in it.
The company’s technology and service has been adopted by NYTimes.com, Forbes.com (and example on Forbes.com is here) and USAToday.com, to convert its visitors into direct leads, instead of using third party and affiliate lead-gen services. Typically, the lead-gen has been a black-box for publishers, who have no control over the data…Root’s solution hopes to help publishers have control of the data and retain revenue from every lead generated on their sites.
The founder and CEO is Seth Goldstein, who founded indie Wall Street research firm Majestic Research in 2002, and prior to that was the Entrepreneur in Residence at Flatiron Partners. The cofounder and chairman is Lew Ranieri, the Wall Street financier who helped launch the mortgage-backed securities market in the 1980s.
For more background on the company, read this Forbes.com story: “Rooting For A Great Sales Lead“
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