Selected as Top 100 Global '08 Finalist by Red Herring
MARLBOROUGH, Mass., Jan. 8 /PRNewswire/ -- Chitika, Inc., a full service
online advertising network, today announced that it has been selected as a Red
Herring 100 Global '08 finalist. Chitika attributes its success to knowing
when, and more importantly -- when NOT -- to show an ad. It is common
knowledge that the majority of online ad budgets are wasted on mismatched ads
that do not convert, and only serve to annoy web users. "Our biggest success
comes from this knowledge, and our technology is based on learning when not to
show an ad," says Chitika CEO, Venkat Kolluri. "Being recognized and selected
as one of the Top Tech companies in the world by Red Herring is an honor for
us."
Mr. Kolluri will be presenting at the Red Herring conference in San Diego
on January 15th.
Chitika's award winning advertising program is based on proprietary
patented behavioral ad targeting technology that tracks, tags, and targets
users based on online search activity, session analysis, and affinity to
specific offers, promotions and adverts. For advertisers and media buyers,
Chitika is a proven search engine marketing (SEM) channel for targeting
searches conducted by users on the top search engines (similar to Google
Adwords). For publishers, Chitika is a very effective monetization service
yielding high eCPMs.
This technology is the foundation for Chitika's newest ad units -- Chitika
| Premium, the industry's first intelligent collapsing ad units, designed to
only show up for select targeted website visitors. First released in May
2008, Chitika | Premium has led to massive success for the company including
doubling their publisher-base to over 34,000 website owners, and increasing
their network-wide eCPM by 300%. Chitika is now serving over 650 million
search-targeted ads per month. This is more search queries than Ask.com, the
5th-largest search engine (according to the August 2008 ComScore report
showing Ask.com with 364 Million searches), and puts Chitika firmly on the
heels of the third largest search provider, Microsoft.
Red Herring 100 winners and finalists from North America, Europe and Asia
of the last three years are eligible for this coveted award. The Red Herring
editorial team deploys a detailed process to whittle down a pool of 600
eligible, promising companies to the 200 finalists of this global award.
Evaluations are made on both quantitative and qualitative criteria, such as
financial performance, innovation, management, global strategy, and ecosystem
integration. The finalists, elite executives and venture capital leaders will
celebrate the Top 100 Privately Held Companies from around the world in San
Diego from January 14-16, 2009.
About Chitika
Founded in 2003, Chitika (pronounced CHIH-tih-ka), is one of the largest
search-targeted advertising networks. The company serves over 2 billion ads
per month across more than 34,000 websites. For more information visit:
www.chitika.com.
About Red Herring
Red Herring is a global media company which unites the world's best high
technology innovators, venture investors and business decision makers in a
variety of forums: a leading innovation magazine, an online daily technology
news service, technology newsletters and major events for technology leaders
around the globe. Red Herring provides an insider's access to the global
innovation economy, featuring unparalleled insights on the emerging
technologies driving the economy. More information about Red Herring is
available on the Internet at www.redherring.com.
Contacts:
Ryan Travis of Chitika, Inc., 508-449-3870, ext. 980
Email: ryan@chitika.com
Anam Alpenia of Red Herring, Inc., 650-428-2900
Email: aalpenia@redherring.com
This release was issued through The Xpress Press News Service, merging e-
mail and satellite distribution technologies to reach business analysts and
media outlets worldwide. For more information, visit
http://www.XpressPress.com
