Equity firm Austin Ventures has committed $50 million to Atcor Holdings Inc., a startup company that will acquire and operate businesses in the online advertising, marketing and digital media space. Sherman Atkinson will serve as Atcor’s CEO.
Before forming Atcor, Atkinson was COO of Intermix Media Inc., which owned MySpace.com before selling that operation to News Corp. Prior to his work with Intermix, Atkinson served as COO of Buy.com, as well as president of BuyServices Inc., a technology spinout of Buy.com. Atkinson also held positions at Booz Allen & Hamilton.
“We are already reviewing interesting acquisition opportunities as well as developing an organic growth plan that exploits the deportalization of the Web and encompasses content aggregation, analytics and distribution,” Atkinson said in a statement.
Atkinson will be based in Orange County, California and will evaluate opportunities throughout the United States and Europe.
Austin Ventures is a venture capital firm based in Austin, TX.
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