3i invests in online ad-agency startup

MayDream will get £2m from leading venture capital firm

3i, one of Europe's most respected investment firms, has sunk $3m (£2m) into MayDream, a Paris and New York-based Internet company.

MayDream owns and operates Adforum.com, which works with 7,750 advertising agencies in 113 countries and provides online access to agency profiles and creative portfolios. Participating agencies include Young&Rubicam, Publicis, Saatchi&Saatchi, EuroRSCG, Leo Burnett and McCann Erickson.

MayDream also said it had appointed Phillippe Guerinet as its managing director, effective 1 February. Guerinet joins the company from American Express in France.

"The ability to generate new business is paramount. By joining AdForum, agencies are visible in a central location heavily trafficked by advertisers and consultants," said Guerinet in a statement. "We keep agencies 'open' for new business... 24 x 7, 365 days a year.''

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