The strategic investment in Toronto's Shiny Ads provides Intertainment with an opportunity to more efficiently direct premium advertisers to their portfolio of online properties including itiBiti, Ortsbo, and Ad Taffy.
The initial early stage investment of $250,000 will provide Intertainment with an ownership stake in Shiny Ads and also provides the opportunity for Intertainment to increase its investment by an equal amount within six months at today's valuation. Intertainment Media will also have a seat on the Shiny Ads board.
"Intertainment Media is very excited to close its investment in Shiny Ads. The potential for this advertising technology to successfully deploy on a global scale is, in our opinion, phenomenal. " said David Lucatch, CEO of Intertainment Media. "Intertainment Media is committed to its philosophy of investing, nurturing and developing leading edge technologies, digital and social media platforms and the Shiny Ads investment was a natural fit with that mandate."
"We are extremely happy to have an organization such as Intertainment Media share in our vision for our technology." said Roy Pereira, CEO and Founder of Shiny Ads. "We look forward to tapping into their experience and resources as we look to take Shiny Ads to the next level."