The cliché answer would be: because advertising on the web is broken. I think that's incorrect, but SO many folks are beating that drum these days and it would be really easy for me say. It's simply not true. Like any industry, things evolve and need to be fixed. Online advertising isn't broken, it just needs more creativity.
I think the best thing to happen to online advertising is decreased performance and the notion that you're more likely to die in a plane crash than click on an ad. I get it, it's easy to love that stat, even though it's not true. It's the Créme de la créme of all link bait.
The truth is - we're being forced to get creative (finally!), and there is a sea of change happening in the advertising space. The web is the best advertising medium to ever exist (assuming you actually care about being able to track performance), and good things are happening.
Does this mean we're abandoning our business over at BuySellAds where we sell traditional banner ads and the like? Hell no. The game we play at BuySellAds is an efficiency game — we're building tools for advertisers and publishers that enable a transaction to happen between the two parties directly vs. letting 55%+ of the advertisers dollar caught up in "ad tax" before reaching the publisher. I'm still very bullish on our prospects with BuySellAds, and the business is doing quite well. If the transactions we help facilitate weren't mutually beneficial for the advertisers and publishers involved, we'd have gone out of business a long time ago.
The truth is, we're launching Promoted because we believe there's something else out there. It's like a surfer who continues to surf his home break, but ventures out every now and then to try and find that next big wave that's yet to be discovered.
There is a larger chunk of the ad world at stake, and we believe we have as good a shot as anyone at building something remarkable. We really get self-serve advertising as a company, it is in our blood. For mom-and-pops to big brands alike, self-serve should be at the core of any modern, scalable advertising company.
More than ever these days, you can build remarkable "things" with very few resources, and that's exactly what we plan to do. We self-funded BuySellAds from a nights and weekends project to the Inc500 in just a few short years, and we plan to give native ads a run for their money with Promoted.com.
Not to mention how KILLER of a domain name Promoted.com is...
We hope you will cheer us on along the way.