Skip to content. | Skip to navigation

24/7 Real Media cashes in, eliminates debt

— filed under: ,
Added:
Sep 30, 2003

The company, which provides technology as well as services, already raised $3.8m and $3.4m in equity capital on two separate occasions earlier this year.

The company's chairman said in June that this financing helped 24/7 Real Media to eliminate all long-term debt from its balance sheet, putting it in a stronger financial position than it has been "in many years".

The company also announced strong second quarter results, narrowing its EBITDA loss to $174,000, which it said is the closest it has ever come to break-even, on revenue up 15% to $12.2m. It expects to achieve positive EBITDA for the first time in the fourth quarter this year.

The $15m will help further strengthen the company's financial position. It entered the third quarter with $9.1 million of cash in hand.

24/7 Real Media said in an SEC filing that it intends to use the proceeds of the offering for general corporate purposes, which may include acquisitions.



"www.247realmedia.com ":http://www.247realmedia.com

"Email us about this story ":mailto:editorial@netimperative.com

Document Actions
Subscribe to Netimperative Newsletters

Email address:


Daily
Weekly
Search Marketing
Events
Publishing & Media

Send as:
Text
HTML

Alternatively, click here to unsubscribe

Digital Training Academy
Digital Training Academy
Essential skills for today's marketers: boost your team's results with customised advanced digital marketing coaching from world class trainers at the Academy.
Mail our academy managers Ask our tutors for more
Full details here...
Digital marketing audits
Digital Training Academy

Getting the best ROI from your websites, emails and online ads? Sure?

Our digital marketing audits review your current and planned campaigns to find ways of cutting budgets without cutting impacts.

Mail our academy managers Ask for more
Full details here...
 
Digital events
Latest polls
Mobile ad networks
Apple's iAds Vs Google's AdMob- which do you think will be most succesful in the long term?



Votes : 114
Comment
Right to reply: The New Twitter – a sticky, revenue-rich service that blitzes the third-party apps
Twitter is now a 'destination website' and that means it is gunning for Facebook, but cleverly avoiding a direct dogfight. It’s more an information network than a social network and so is offering much, much more. Tanya Goodin, CEO of search and social conversion agency Tamar comments…
Sep 16, 2010
Right to reply: ‘Instant Search’– Google giveth then taketh away
Google has just announced its “streaming search” service, Google Instant, is coming out of limited Beta testing and going live for all users. According to Adam Bunn, Head of Search at leading independent search and social marketing agency Greenlight, when it comes to search engine optimisation campaigns (SEO), some websites may now suffer a drop in traffic.
Sep 10, 2010
Guest comment: No rival to the SMS text exists in the market today
SMS is the obvious “lowest common denominator” mobile marketing solution... yet critics still talk about apps and website and vouchers. Darren Daws, Managing Director at Txtlocal argues why SMS is still the best mobile marketing medium, even on smartphones.
Aug 04, 2010
All subject items…