January 22, 2008
Today Quantcast announced a financing which Polaris co-led along with the Founders’ Fund. It was a big round for a big idea.
The first wave of Internet successes demonstrated they were able to attract eyeballs.
The second wave of Internet success was actually making money — whether it be E-commerce or contextually relevant ads.
The next wave of Internet success will, in my opinion, be driven by two things: monetizing web video, and making the web addressable.
Our investment in Quantcast is based on our belief that they have an opportunity to lead the emergence of the addressable web.
I was first introduced about a year ago to Quantcast founder Konrad Feldman by Automattic founder Matt Mullenweg, who had started exploring how WordPress could use Quantcast. When Matt told me Quantcast was doing important stuff, and doing it well, I paid attention. Over the course of several months, I had the chance to introduce Quantcast to a number of portfolio companies and friends around the web publishing business. It wasn’t long before each of the companies to whom I had introduced Quantcast – including our portfolio companies like Automattic, JibJab and Heavy – had become “Quantified publishers.” And, having grown accustomed to hearing everyone bitch about the inadequacies of Nielsen and Comscore, it certainly got my attention when, to an individual, they all swore by the service.
So, when Konrad called to tell me they were raising a round, it wasn’t hard to figure out that this was one we wanted to do. So we did…