After little more than a half a year since he took over as CEO of Mediabank, former Yahoo (NSDQ: YHOO) Right Media exec Bill Wise is streamlining his new company’s operations as it seeks to appeal to both the buy side and sell side of the advertising equation. Mediabank will split its agency systems and its marketplaces operations into two separate units.
The move follows Mediabank’s preparations to expand globally. In an interview with paidContent, Wise also said that the company is “aggressively seeking out acquisition targets.”
As one of earlier pioneers of the online ad exchange model, Wise has used Mediabank to translate the electronic buying and selling methods used for internet display to traditional media, including broadcast and print. In the past few months, Wise has struck deals major media buying agencies, including Publicis’ Starcom MediaVest, as well as Interpublic Group’s Mediabrands, which will go live with MediaBank technology later this year.
In trying to serve the buy side and the sell side equally, the company recognized that it had to ensure that there were no perceived conflicts in its services. Paradoxically, by creating two distinct offerings, Mediabank believes its can create a single marketplace that serves all the various players.
“We believe our agency partners will take full advantage of the marketplaces product,” Wise said. “On the buyside, the marketplaces system has a lot of DSP characteristics, such as better control over pricing. But we’re not a DSP. We’re trying to take the dynamics that are second nature on the digital side, we desperately want to apply it to other media. So many companies have tried to create marketplaces to commoditize the rep firms. But we want to embrace the rep firms because of the role they play in supply.”