SAN RAMON, Calif., Sept. 22 /PRNewswire/ -- TargetCast Networks, Inc. (TCN) has acquired Ripple TV to create the premier national away from home television network delivering local and national advertisements to over 1400 locations on 3425 screens.
"This combined organization creates the largest away from home television network in the industry with its casual sit-down and fast casual chain locations delivering 3.9 million Nielsen measured viewers weekly," said Jerry Hall, President/CEO of TargetCast Networks, Inc. The combined 3425 screen footprint leverages both existing television panels and supplied flat panels/TVs to engage active viewers while they are away from home and in "ready-to-buy/eat/drink" shopping mode in bars, eateries and in proximate retail outlets.
"Advancing technologies are enabling new and powerful advertising venues," said Dr. Peter Sealey, former Chief Marketing Officer for Coca Cola. "We are now able to deliver a message to consumers exactly when and where they are willing to buy."
TargetCast will rebrand existing Ripple TVs in fast casual locations, integrate the content and advertising delivery into a single format and use its patented TargetCaster hardware and software products to scale growth into new locations.
"The media marketplace demands scale and big brands like to associate with other big brands," said, John McMenamin, TargetCast Network's newly appointed Chief Revenue Officer and former Ripple TV CEO. "TCN's proven business model and domain experience has created a substantial branded footprint in a short period of time. Together, we bring the advertising community the largest branded network in the industry, delivering quality audiences."
TCN's growth will include expansion in new locations with its existing venue partners and the addition of new distribution channels capable of delivering the scale and return on investment required by its leading advertising partners
About TargetCast Networks
TargetCast Networks, Inc. is a San Ramon, California company specializing in the delivery of digital advertising in specific away from home locations such as restaurants, coffee shops, hotels, health clubs, golf clubs, and medical offices. TCN is a privately held company backed by venture capital firms including Claremont Creek Ventures.
About Claremont Creek Ventures
Claremont Creek Ventures is a seed and early stage venture capital firm investing in technology companies specifically in the energy conservation/management systems, security and IT healthcare markets. We work in partnership with entrepreneurs and local technology institutions including UC Berkeley, UC Davis, and the Lawrence Livermore and Berkeley Laboratories to turn innovative ideas into great products and companies. Our East Bay location provides unique access to this strong entrepreneurial community and excellent research-driven "incubating institutions". CCV has $305 million of capital under management in two funds whose limited partners include some of the leading academic institutions based in the U.S. Some of our recent investments include: Adura Technologies, Shotspotter, Gene Security Networks and PropertyBridge, recently acquired by MoneyGram. For more information please go to (www.claremontvc.com)
SOURCE TargetCast Networks, Inc.
