In a bid to become a local advertising powerhouse, Internet conglomerate IAC is merging Citysearch, Insider Pages, and Urbanspoon into one company. It is now known as CityGrid Media.
Back in January, Citysearch unveiled CityGrid an advertising network for local businesses. The CityGrid advertising network has existed for years, but it only recently opened up the platform so that advertisers could better target consumers of local communities and publications.
Since January, CityGrid’s growth has exploded, delivering more than half of Citysearch’s total revenue. As CEO Jay Herratti told me, Citysearch has been slowly reshaping its strategy, focusing less on competitors such as Yelp and more on the advertising platform.
The new company will take the place of Citysearch, LLC, with Jay Herratti taking the helm of CityGrid Media. The entity owns not only the CityGrid advertising network, but Citysearch, Urbanspoon (acquired in 2009) and Insider Pages, all of which use the CityGrid ad network.
The move seems to indicate that IAC believes the market and revenue opportunities are in the local advertising network, and the reorganization reflects that attitude. Yelp, Foursquare, and other apps have really pushed the local trend to new heights, and CityGrid is well positioned to monetize that phenomenon.
For more social media coverage, follow Mashable Social Media on Twitter or become a fan on Facebook
Reviews: Facebook, Foursquare, Twitter, Yelp
Tags: advertising, CityGrid, CityGrid Media, citysearch, iac, yelp