LifeStreet Media raises $66 million
LifeStreet Media, a San Carlos social networking and mobile digital advertising sales platform, has taken a $66 million equity investment from Nautic Partners both to grow the company and cash out other investors.
LifeStreet, which was started in 2005 by CEO Mitchell Weisman, uses technology that pits different online advertising strategies against each other simultaneously and lets advertisers see in real-time which get the best results. It previously raised $3.5 million in a round led by Exigent Partners.
The company, which also uses the name LifeStreet Corp., says it became the leader in the Facebook in-app advertising market in 2009 and continues to drive more application installations than any ad provider besides Facebook itself.
LifeStreet claims to have driven over 200 million social and mobile app installations, and to have paid out over $100 million of advertising revenue to social and mobile developers.