Google buys advertising technology startup Invite Media

SAN FRANCISCO, June  3, 2010 (AFP) - Google on Thursday announced it has bought advertising technology startup Invite Media, which allows advertisers to bid on ad space.

Invite Media developed a way to let advertisers bid in real time for online display ad space and created a "universal buying platform."

"We're investing significantly in the display advertising ecosystem and are seeing great momentum," Google vice president of product management Neal Mohan said in a blog post.

"Real-time bidding technology is an important part of this ecosystem."

Google plans to invest heavily in Invite and eventually mesh its technology into DoubleClick, an online ad-targeting business it acquired three years ago.

Financial details of the Invite deal were not disclosed. Invite was founded in Philadelphia and has offices in New York City.