Pheedo Launches RSS Advertising Network and Secures Series A Financing.

Pheedo, the first advertising network and ad delivery platform for RSS and ATOM publishers, secures seed investment from Fastlane Ventures. The funds will be used to help build-out technology that alleviates some of the pressure being placed on email marketing.

WALNUT CREEK, CA (PRWEB) May 6, 2004 --- Pheedo http://www.pheedo.com, the first online advertising network and ad delivery platform for syndicated content (RSS and Atom), announced today that it has received Series A funding from boutique investment firm Fastlane Ventures http://www.fastlaneventures.com.

With the onslaught of SPAM and viruses flooding inboxes daily, RSS advertising will alleviate some of the pressure being placed on legitimate email marketing. Pheedo has developed a suite of tools that provides marketers easy access to a wide variety of targeted RSS ad inventory. Their roster of clients includes start-ups to Fortune 500 customers.

We're very excited to be working with Pheedo. We believe RSS, content syndication and weblogs are poised for explosive growth. Pheedo is uniquely positioned to assist online publishers build sustainable revenue streams from their syndicated content," said Charles M. Smith of Fastlane Ventures.

William R. Flitter, who serves as a Principal at Fastlane Ventures, will take a leading roll at Pheedo as Chief Marketing Officer. Flitter brings entrepreneurial expertise and over 10 years of consumer and business marketing experience to Pheedo. He has played executive and marketing roles with numerous early-stage technology companies and advertising agencies. Flitter has worked with companies such as Zing Networks, BTE Direct, Email Shopping Network, J. Walter Thompson and Bernard Hodes Advertising. He currently chairs the San Francisco Bay Area chapter of RSS Neighborhood and EBIGs Weblogs and RSS Special Interest Group.

Flitter says, RSS advertisements are a great alternative to email/newsletter marketing. Content syndication is also a big win for consumers. In the year of anti-marketing (do-not-call list, privacy regulations, and CAN-SPAM Act), consumers are demanding control. RSS delivers that control. If the noise to value ratio is out of balance, consumers are one click away from opting out. In this new World of online advertising, publisher will need to work closer with advertisers. Pheedo is poised to be that trusted partner that has publishers, advertisers and consumers best interests in mind."

Pheedo also announced today that Charles M. Smith will join its Board of Directors. Smith has served as an executive, legal advisor and senior consultant for numerous technology and media companies, including Kleiner Perkins backed Gigabeat (now Roxio), Zing Networks and direct marketing pioneer BTE Direct. He is active in the venture and entrepreneurial communities in both the San Francisco Bay Area and the Pacific Northwest.

The financing will be used for technology development, and key hires in Business Development and Sales.