Addante, 31, was founder and chief technology officer of L90 Inc., an online ad company that raised $112 million in an initial public offering in January 21, 2000 -- a day "the market took a big dip," he says, and nevertheless reached a market cap of almost $500 million. In 2001, DoubleClick Inc. acquired L90's technology division, which included its popular adMonitor product, invented by Addante. As part of the deal, L90 acquired DoubleClick's media sales division in a stock swap and later sold it to what became , explains Addante. Meanwhile, DoubleClick is in the midst of being acquired by Google Inc. for $3.1 billion.
The latest round of funding includes participation from IDG Ventures Asia, Stanford University, University of California Berkeley, Matt Coffin (founder and former CEO of LowerMyBills.com) and Clearstone Venture Partners, the company's Series A investor. Addante plans to use the investment to fuel growth through international expansion, strategic acquisitions, research and development and infrastructure required to support the influx of Web sites signing up for the company's new ad network optimization service. -- Mary Kathleen Flynn
See press release from the Rubicon Project
See Frank Addante's blog on L90
Serial entrepreneur and online advertising pioneer Frank Addante this week 
