Yahoo! has agreed to buy online advertiser 5to1, a startup found by former executives from News Corp.’s Fox interactive.
Financial terms of the deal weren’t disclosed, but The Associated Press put the value at $28 million. According to AP, 5to1 lost almost $9 million last year on revenue of less than $1 million.
5to1, based in Los Angeles, describes itself as an "online advertising alliance" made up of about 20 major publishers who offer brand advertisers premium ad space online "at mass scale," according to its website.
Expected to close by the second quarter of the year, the 5to1 team will join Yahoo as part of its Ad Marketplaces group.