Wednesday, July 13, 2005

Will there be consolidation among the online ad networks? (FSTC, GOOG, MSFT, TWX, VCLK, YHOO)

There's an interesting debate occuring about the online ad networks. Online Journalism Review summarized the problems with Google's AdSense program and Yahoo's ContentMatch program. Jason Calacanis, founder of blog network Weblogs Inc., admits that most of his ad revenue is from brand ads, but still argues that contextual ads have no downside. He then wrote:

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Posted by David Jackson on July 13, 2005 at 11:25 AM in Sub-sector: Advertising, ticker: FSTC, ticker: GOOG, ticker: MSFT, ticker: TWX, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Netflix offers ads, Answers.com more popular than Wikipedia? (NFLX, GRU)

Quick news/analysis:

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Posted by David Jackson on July 13, 2005 at 12:29 AM in Sub-sector: Advertising, Sub-sector: Search, ticker: FSTC, ticker: GOOG, ticker: GRU, ticker: MSFT, ticker: NFLX, ticker: TWX, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Friday, July 08, 2005

Fastclick isn't fast enough (FSTC)

So says Citigroup Internet analyst Mark Mahaney in his Thursday initiation of coverage report on Fastclick (ticker: FSTC). Excerpts:

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Posted by David Jackson on July 8, 2005 at 12:48 AM in Sub-sector: Advertising, ticker: FSTC | Permalink | Comments (0) | TrackBack (0)

Tuesday, May 24, 2005

The Spitzer Internet Danger List - an update (AQNT, GOOG)

An earlier post on The Internet Stock Blog provided a list of stocks at risk from Eliot Spitzer's attack on the Adware/Spyware industry. One group with potential exposure: providers of paid search and affiliate ads, including FindWhat (ticker: FWHT), Yahoo/Overture (ticker: YHOO), CGI Holding (ticker: THK), ValueClick (ticker: VCLK), 24/7 Media (ticker: TFSM), Think Partership (ticker: THK) and LinkShare (partially owned by Internet Capital Group, ticker: ICGE).

Now research by Spyware legal expert Ben Edelman has expanded the list to cover other publicly-traded companies. They are:

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Posted by David Jackson on May 24, 2005 at 01:49 AM in Sub-sector: Advertising, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: GOOG, ticker: ICGE, ticker: TFSM, ticker: THK, ticker: VCLK | Permalink | Comments (0) | TrackBack (3)

Tuesday, April 26, 2005

DoubleClick take-out and lackluster earnings a warning for other Internet ad stocks? (1Q05 earnings)

DoubleClick (ticker: DCLK) agreed to be acquired by private equity firm Hellman & Friedman LLC for $8.50 per share in cash, following lackluster Q1 results. Though DCLK is no longer "in play" for most investors (its now an arbitrage bet on the deal's closure), its Q1 results and purchase provide important data points and lessons for Internet investors. Details and comments:

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Posted by David Jackson on April 26, 2005 at 11:35 AM in Earnings results, Sub-sector: Advertising, ticker: APTM, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: LOOK, ticker: TFSM, ticker: VCLK | Permalink | Comments (2) | TrackBack (0)

Sunday, April 03, 2005

Internet news/analysis in brief

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Posted by David Jackson on April 3, 2005 at 12:14 AM in ticker: FSTC, ticker: GOOG, ticker: GRU, ticker: IACI, ticker: MSFT, ticker: NTRT, ticker: RATE, ticker: RCOM, ticker: SHOP, ticker: TFSM, ticker: TWX, ticker: VCLK, ticker: YHOO | Permalink | Comments (4) | TrackBack (0)

Monday, March 28, 2005

Forbes loves Fastclick (FSTC), but did it read the S-1?

Forbes published a glowing review of Fastclick's (proposed ticker: FSTC) upcoming IPO based on information from its S-1, claiming that investors should "Expect the company's IPO to turn in a solid first day", and concluding that "Fastclick looks like a winner". Here's what Forbes mentioned about Fastclick, with some comments about what it didn't mention:

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Posted by David Jackson on March 28, 2005 at 07:05 AM in Sub-sector: Advertising, ticker: FSTC | Permalink | Comments (1) | TrackBack (0)

Wednesday, March 23, 2005

Will Fastclick pop-under after its IPO?

Internet advertising company Fastclick (proposed ticker: FSTC) is on its IPO roadshow now. Here are some key stats from the S-1 plus comments and analysis. Investors had better read them carefully. Do they know, for example, that 51% of Fastclick's 2004 revenues came from pop-under ads?

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Posted by David Jackson on March 23, 2005 at 12:02 AM in Sub-sector: Advertising, ticker: FSTC | Permalink | Comments (0) | TrackBack (0)

Key quotes from the Fastclick S-1

Here are some key quotes from online ad company Fastclick's S-1 (proposed ticker: FSTC). The quotes cover its reliance on pop-under ads, different types of online ads, its revenue share with publishers, its advertiser customers, its acquisition strategy, click fraud, and its rising sales and marketing expenses:

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Posted by David Jackson on March 23, 2005 at 12:01 AM in Sub-sector: Advertising, ticker: FSTC | Permalink | Comments (0) | TrackBack (0)

Thursday, December 23, 2004

Fastclick files for IPO

Internet advertising company Fastclick filed for an IPO today. Lead underwriters are CSFB and Citigroup, secondary underwriters are Thomas Weisel and Jefferies. You can view the full S-1 filing here.

Fastclick pays website publishers for advertising space on a CPM (impressions) basis, and then places ads using its proprietary optimization technology, billing advertisers on a CPM or CPC (cost-per-click) basis. Advertisers bid in an auction for advertising space on the Fastclick network. According to the S-1, Fastclick competes with other operators of advertising networks including Advertising.com (acquired by AOL), ValueClick and Burst Media. Ten publisher customers account for about 23% of Fastclick's revenue-generating ads by dollar value.

Fastclick generated $29 million in revenue in 2003 and $39 million in the first nine months of 2004. Gross margins were 34% in 2004, and the company generated net income of $3.3 million.

Posted by David Jackson on December 23, 2004 at 07:01 AM in ticker: FSTC | Permalink | Comments (0) | TrackBack (0)