Tuesday, January 19, 2010
Hydra Restructures Firm In Buyout
Beverly Hills-based Hydra Network, an online performance-based ad network, has been restructured in a deal where an investor group, Hydra Group led by Hydra founder and CEO, Zac Brandenberg, is purchasing the assets of Hydra LLC, the original owner of the ad network. According to Hydra Group, it was formed by a group of online marketing focused investors, including Brandenberg. The investment group also includes Rick Podgorski, of venture firm Windomar Partners. Financial details of the acquisition were not disclosed. Hydra Network is a cost-per-acquisition (CPA) advertiser, with inventory from such firms as AT&T, Hotwire, Aegon, and others.