There is an old and perhaps slightly shopworn saying in the venture business that you back the jockey and not the horse. But in markets undergoing dramatic transformation, where there is a real advantage to being quick on your feet, it is as true as ever. Dave Morgan, who founded Real Media and then TACODA, is one of the best "jockeys" we've worked with. Dave has a demonstrated ability to identify great market opportunities,attract world class talent, and build valuable businesses.
With his new venture Simulmedia, Dave is bringing the analytic and targeting techniques that he had pioneered on the internet to the world of linear television. Linear television is an enormous and (surprisingly) still growing business, but it is facing real challenges. Programming choices have exploded on television and audiences are increasingly spending time elsewhere, especially on the web. The developers and distributors of television programing spend enormous amounts of money to attract audiences to their shows. Today, much of that investment is wasted.
The insight that became the foundation for Simulmedia is that the Television industry is increasingly aware of the power of targeted promotions and that the aggregate, anonymous data needed to enable television programmers to target their promotions was now available.
We look forward to working again with Dave and his team and expect to have more to say about Simulmedia as they bring their services to the market in the next few months.