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Ex-PayPal Boston execs start Clypd, focused on delivering more targeted ads to TV viewers

Posted by Scott Kirsner  March 5, 2013 02:25 PM

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A trio of former PayPal Boston executives have a new startup, Clypd, that will be exiting stealth mode soon. The Cambridge company, pronounced like "clipped," has pulled together a first round of funding from Atlas Venture, DataPoint Capital, and Boston Seed Partners, and is building a new digital marketplace for selling more targeted ads on cable, satellite, and the coming wave of interactive TV systems.

Clypd's founding team includes CEO Joshua Summers, bizdev chief Doug Hurd, and director of technology Victor Mendoza, all of whom previously worked at PayPal's Boston office. PayPal Boston exec David Chang is also one of the company's angel investors.

The founders aren't talking yet about details of the idea, but according to people with whom I've spoken, it seems to center on buying readily-available data about households — like demographics or recent big purchases — and using that to understand who is watching time-delayed TV programming like on-demand shows or material being played from a DVR. Clypd will operate a marketplace that will let advertisers bid in an instantaneous auction to have their ads shown as you watch, similar to the way advertisers currently bid to have their ads show up when you surf around the web. I don't have the specifics on how much Clypd has raised, but they were making the rounds in recent months hunting for $5 million.

Update: Clypd later put out a press release announcing that it had raised $3.2 million, and naming a few additional investors.

Back in October, I wrote about another startup that had splintered off from PayPal Boston, Happier.

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About Scott Kirsner

Scott Kirsner was part of the team that launched in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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