Magazine article Editor & Publisher

PowerAdz Expanding

Magazine article Editor & Publisher

PowerAdz Expanding

Article excerpt

Firm wants to be full-service provider for papers

Diversifying beyond its roots as an online automobile classified company, PowerAdz.com of Troy, N.Y., wants to become a full-service provider of advertising and commerce services for online newspapers. In trying to reach this goal, the company recently raised $4.5 million in equity financing for expansion projects, and purchased AdQuest from Milwaukee's Journal Communications, which remains a shareholder. The equity financing was not used for the AdQuest merger, said Bob Godgart, PowerAdz.com chairman.

PowerAdz.com is best known for its CarCast AutoMarketPlace, an online car classified service used by 40 media companies, including the Dallas Morning News, Pittsburgh Post, Omaha (Neb.) World-Herald, Journal Communications and the Washington Post Co.'s Maryland-based Gazette Newspapers. The Web sites of these companies feature co-branded CarCast sections that allow users to shop for automobiles from local dealers. The sites also contain localized content from the media providers.

The merger with AdQuest should allow for the expansion of CarCast, Godgart said. "AdQuest reps will market the CarCast product to their newspaper clients," he said. …

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