The Mountain View Internet giant announced the deal Thursday in a post by Neal Mohan, vice president of product management, on Google's DoubleClick Advertiser Blog. Terms of the deal weren't disclosed. However, Peter Kafka of the AllThingsD blog estimated the value as "in the $70 million range."
According to Mohan's post, Invite Media's technology allows advertisers and ad agencies to use "real time bidding" to buy online display ads on exchanges including Google's DoubleClick Ad Exchange. "We're big believers in the benefits and future of this type of display ad buying," he wrote.
The technology "enables advertisers and agencies to tailor their bids on an impression-by-impression basis, based on their own data, when bidding on websites that choose to make their ad space available through an advertising exchange," Mohan wrote.
According to Invite Media's website, the company was founded in April 2007 out of The Wharton School at the University of Pennsylvania. It has been funded by Comcast Interactive Capital, First Round Capital, Genacast Ventures and angel investors. The co-founders are CEO Nathaniel Turner, President and Chief Operating Officer Zachary Weinberg, Scott Becker and Michael Provenzano.
As of November, according to the company's site, Invite Media had 28 employees with offices in New York, San Francisco, London and Philadelphia.