BIMA member Don Elgie is set to return to the London market as chairman of adtech company Crossrider.
In a move that reflects London and the UK’s importance in the advertising and technology space, Crossrider aims to raise $75m on AIM. This would value the company up to $250m. Owned by Israeli billionaire Teddy Sagi, the company aims to be the de facto standard platform for delivering relevant web and mobile adverts to billions of people and power the next generation of digital advertising.
Crossrider uses its proprietary algorithms to improve the investment returns of advertisers and revenue opportunities for publishers. The market in for targeted digital display advertising is forecast to be worth $204 billion by 2018. The company has experienced rapid growth and has a client base that includes the largest advertising networks now serves over 1.6 billion adverts a day across the web and mobile channels.