WebConnect is a year-old media buying and rep service on the Web; the service places advertising in its own 1,000-member network of Web sites as well as on non-member sites. Worldata's CEO Roy Schwedelson declined to confirm the $20 million figure, saying it's "a major investment, well into the millions."
The investment is an interesting one for CMP, which also owns a stake in Focalink Communications, Palo Alto, Calif. Focalink is currently testing a service called MarketMatch through year-end that offers information on appropriate Web markets for different advertising agencies' clients (see Advertising Age, May 20). Among the agencies participating in the test are San Francisco shops Hal Riney & Partners, Anderson & Lembke, Young & Rubicam, and J. Walter Thompson USA.
Separately, Worldata will begin managing lists for all CMP publications, a function previously handled by the publishing company's in-house direct marketing services group. This service will go into effect after Labor Day, according to Mr. Schwedelson.
Copyright August 1996 Crain Communications Inc.