Ad exchange
Encyclopedia
Ad exchanges are technology platforms that facilitate the bidded buying and selling of online media advertising inventory from multiple ad networks. The approach is technology-driven as opposed to the historical approach of negotiating price on media inventory. This represents a field beyond ad networks as defined by the Interactive Advertising Bureau
Interactive Advertising Bureau
The Interactive Advertising Bureau is an advertising business organization that develops industry standards, conducts research, and provides legal support for the online advertising industry. The organization represents a large number of the most prominent media outlets in the United...

 (IAB), and by advertising trade publications Advertising Age
Advertising Age
Advertising Age is a magazine, delivering news, analysis and data on marketing and media. The magazine was started as a broadsheet newspaper in Chicago in 1930...

, iMediaConnection and ClickZ.

The major ad exchanges include AdECN, which is owned and was purchased by Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...

 in August, 2007 but may have recently been closed down, Right Media
Right Media
Right Media, Inc. is an online advertising company that operates the Right Media Exchange , a marketplace that enables advertisers, publishers, and ad networks to trade digital media. Technology providers develop services for the Exchange via APIs....

, which is owned and was purchased by Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...

 in April 2007, ContextWeb's Exchange, the leading independent exchange, DoubleClick
DoubleClick
DoubleClick is a subsidiary of Google that develops and provides Internet ad serving services. Its clients include agencies, marketers and publishers who serve customers like Microsoft, General Motors, Coca-Cola, Motorola, L'Oréal, Palm, Inc., Apple Inc., Visa USA, Nike, Carlsberg among others...

 Ad Exchange, which is owned by DoubleClick
DoubleClick
DoubleClick is a subsidiary of Google that develops and provides Internet ad serving services. Its clients include agencies, marketers and publishers who serve customers like Microsoft, General Motors, Coca-Cola, Motorola, L'Oréal, Palm, Inc., Apple Inc., Visa USA, Nike, Carlsberg among others...

, a Google
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...

 subsidiary purchased in May 2007 and Zinc Exchange, an exchange selling guaranteed impression delivery on newspaper sites.

Ad exchanges can be useful to both buyers (advertisers and agencies) and sellers (online publishers) because of the efficiencies they provide.
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