Itop forms JV with 24/7

Beijing - Itop, a division of OgilvyOne China, has formed a joint venture with fellow WPP company 24/7 Real Media to launch a Chinese ad network targeting consumers in the digital space.

Based in Beijing, the joint venture will be effective in January 2009 and be headed by Ronggong Xia as general manager.

Chris Reitermann, president for OgilvyOne China, said 24/7 Real Media is an "excellent choice" to partner with to provide its clients with the best breed of ad management technology.

"With the onset of the financial crisis, many more clients require effectiveness and measurement from their marketing campaigns, providing increased opportunity for a company like Itop 24/7 that focuses on online marketing offers more targeted results and better ROI," he said.

Reitermann said that Itop 24/7 is a venture that will enable them to bring marketing technology with scalability and effectiveness to their own business and clients.

He added that this type of business is just forming in China, but they are confident that it will become more platform-driven in the future.

"We also see a trend with advertisers asking for more vertical and niche sites as a part of the media mix. ITOP 24/7 enables advertisers to effectively reach audiences across a broad range of smaller sites," Reitermann added.

David J. Moore, chairman and founder for 24/7 Real Media, said that the relationship with OgilvyOne extends the company's reach into China and Itop 24/7 will give Chinese advertisers an ad network that provides enhanced ROI, transparency and measurability.

"We are looking forward to building a new ad network paradigm in China with Itop 24/7," Moore said.

Ogilvy Itop's current clients in China, which include IBM, China Unicom, Microsoft and Daphne will become the joint venture's clients as well. Itop's existing ad network covers key categories such as IT & Communications, fashion and entertainment and business and finance providing mid to large scale advertisers targeted ad placements and audiences.