Comcast Acquires Video Ad Service FreeWheel

There are confirmed reports that Comcast is acquiring FreeWheel which is a leading video ad service with big clients like Turner, Fox, NBCUniversal, Sky and Viacom.

Money

The deal was first reported by TechCrunch, who said that the price of the acquisition is $320 million. FreeWheel has managed to get outside funding of more than $30 million since it started its operations in 2007. And according to reports, it managed to generate a revenue of $35 million in 2013.

FreeWheel was launched as an equivalent service to DoubleClick, which was the popular ad company focused on display ads before it was acquired by Google at a price of $3.1 billion in 2008. FreeWheel later on also entered the arena of display ads which made it a direct competitor to DoubleClick.

There were rumors of a coming FreeWheel IPO prior to this acquisition but of course that is not going to happen now.

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