Online Ad Marketplace: Another "New" is "Old"? Puleeze...
Pete Caputa brings up YABI (Yet Another Big Idea, my new acronym), pointing to a new ad marketplace at Ad-Bay, and, "Yes, Grasshopper, this has been done before."
A number of companies were in this ad marketplace space back in 1998 and 1999 including mine, ADSDAQ, which was acquired by Amazing Media. The big player in the space was AdAuction which became OneMediaPlace, which became a part of MediaPassage.Com. All attempts to access any of these websites now go unanswered (after probably about $50 million in venture money, $25M here).
What's amazing to me, is that many people are still trying to come up with YABI, which are just regurgitations of "old" ideas with the same, and sometimes *inferior* technology.
I look at MySpace.com (new market) and think Homestead.com (old market). What's different now for MySpace is that the market and its future have changed, due to daily self publishing (aka blogging) and social networking amongst self publishers, IOW "building online relationships", not "putting up websites". This could have been predicted as a change in *culture*, not a change in available application technology (a better mousetrap). Homestead.com is still trying to sell static web space and they have been left in the dust, proving that their market hypothesis was dead wrong.
This leads me to *why* its more important now more than ever for entrepreneurs to get beyond the bootstraps with the right strategy.
Now, repurposing or bricolaging proven technologies (like LAMP) with a newly anticipated burgeoning market, that's something worth talking about. We could build something huge with that.