Spot Runner launches web-based TV ad exchange — finally

TV ad company Spot Runner has launched Project Malibu, their much anticipated web-based platform for buying and selling television advertising. The move comes after nearly two years of development, massive layoffs, a heated lawsuit from investor WPP and a whopping $120 million raised from more than a dozen investors.
Spot Runner originally focused on serving local advertisers, letting them use a web-based service to serve ads on TV. But Project Malibu spotlights a shift in technology to a web-based advertising exchange platform. The new platform is supposed to help media sellers and buyers to better manage the increasing fragmented advertising market. Spot Runner generates revenue by charging a transaction fee to the media owner.
Spot Runner lists out some key features the platform will help save time during buying and selling process, including:

Controlling inventory and pricing
Creating campaigns and orders
Submitting and clearing creative
Generating and confirming trafficking instructions
Delivering on-demand campaign reports
Managing credit and invoicing

Investors include WPP, UK media group Daily Mail, Grupo Televisa, hedge fund Legg Mason Capital Management, French luxury group Groupe Arnault/LVMH, Allen & Company, Battery Ventures, Capital Research and Management, CBS, Index Ventures, The Interpublic Group and Tudor Investment Corporation.
The launch of Project Malibu could be considered Spot Runner’s last stand. Not sure how much more bad news this company can take. The products success lingers on convincing media buyers and sellers that the platform is useful and with hundreds of hours consulting with media sellers and buyers in development of Malibu to make sure that it meets their current and future needs – that shouldn’t be a problem.