Spotzer Makes Video Advertising Affordable

Andrew Klein founder of Spotzer at last years ETRE in Barcelona. At this time Spotzer made first headlines as a alpha version but it has progressed tremendously since then. Time for an interview with Andrew:

1) What does Spotzer do?

Spotzer makes video advertising affordable for businesses around the world. We offer small and local businesses a library of pre-produced, ready-to-air video ads. Clients can buy a license to use an ad with a degree of exclusivity that matches their needs and budget. We will then personalize the ad using the client's unique logos, pictures, slogans and contact information. We also help clients plan and buy highly targeted spots on television, web and out of home TV.

2) What is the story of Andrew Klein? Tell us more about your earlier career and why you decided to become an entrepreneur?

I am the son of two entrepreneurs. I never seriously considered doing anything other than starting my own business, though I did go to law school and through six years of a legal career. I just thought I had to learn a few skills first, and save some money. Eventually, I took my first bet, starting a beer company in 1992 at the age of 32.

A few years later, I got lucky. The beer business was struggling to find investors. I came up with a scheme to offer shares in my beer company to beer enthusiasts who liked our Wit beer, and I decided to try to use the Internet to reach out to target investors. When it turned out that this stock offering was the first ever online, the beer company became very famous. Beer sales improved from the publicity and I started a new company, Wit Capital, to help other companies use the Internet to raise capital. Our little online investment bank eventually partnered with Goldman Sachs and itself went public on NASDAQ. By 2000 we employed 600 people and generated $400 million of revenues.

3) Spotzer has raised impressive piles of cash. How did you do it? And for what is all that money?

We are onto an opportunity that could be very large, but it is capital intensive. We are investing in systems that will automate several aspects of media planning and buying. And we are investing in making commercials for our library. And we are building sales and marketing teams in several countries at once. We raised the money we need to execute an ambitious plan. Investors are supporting us because they too believe the opportunity is very large.
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