1. Advent Ventures The future of the advertising industry?

3. I am a VC. I do not know the future But I invest in people who might.

4. Agenda What are we investing in Why?

5. Many of the established names were VC backed…

6. Many emerging names are already VC funded

7. You saw it here first… Advent commissioned research specifically for ad:tech

8. Global Venture Capital investment Ad tech H1 2008 $580mn invested across 56 deals Deals by Value Largest Category: Ad networks $167mm Deals by Volume Largest Category: Ad networks 15 deals

9. Who were the companies?

10. Our money where my mouth is User reviews of local places and services Second-generation Yellow Pages

11. Why invest?

12. What is driving us to invest in the sector? Startling online growth Brands will eventually stop valuing reach Advertising measurement still broken Adverts are changing beyond recognition (www.TheCoffeeShopsofMayfair.com)

13. Where am I interested in investing? Measuring advertising effectiveness Opportunities in Central and Eastern Europe Advertiser-funded short form content Ad networks with scale