Right Media

The firm's central offering was the Right Media Exchange (RMX), an auction-based marketplace designed to facilitate the trading of digital media among advertisers, publishers, and ad networks. This platform addressed the fragmented nature of the ad market by creating a centralized system where participants could buy and sell ad inventory more efficiently. A key feature was the introduction of dynamic pricing (dCPM) in 2004, which shifted campaign management from a flat cost-per-mille (CPM) model to one that optimized the price for each individual ad call, a significant change in the industry at the time. This technology was encapsulated in their ad server product, initially called Manage and later Yield Manager.

The business model centered on providing this exchange as a service, connecting a wide array of digital advertising companies and allowing them to manage their ad businesses more effectively. The company's clients included publishers looking to monetize their ad inventory, advertisers seeking targeted audiences, and other ad networks. The company's growth was substantial, attracting a Series A investment in 2005 and a significant $45 million Series B funding round in 2006, which included a strategic investment from Yahoo!.

This strategic partnership culminated in Yahoo! announcing its acquisition of the company in April 2007 for approximately $680 million, a deal that was finalized in July of that year. Following the acquisition, Right Media was integrated into Yahoo's ad network with the goal of creating a more open and extensive advertising marketplace. However, Yahoo's strategic priorities later shifted, de-emphasizing the open exchange model, which led to the departure of founder Michael Walrath and other key executives. Yahoo ultimately shut down the Right Media Exchange in January 2015.