5to1.com, an online advertising startup led by Seattle entrepreneur and former Fox Interactive media exec Jim Heckman, has been acquired by Yahoo in a deal of undisclosed size.
“We’re thrilled for our media partners that Yahoo! is backing our platform and the alliance,” said Heckman in a press release. “The 5to1 team is looking forward to joining Yahoo! at the close of the transaction and being part of its global reach.”
5to1.com describes itself as “a publisher-controlled, online advertising alliance.” The company completed a reverse merger last fall, and raised $6.5 million in financing from some big names in technology and media.
Backers of the company include Fuse Capital; Jonathan Miller; former CBS digital head Quincy Smith; digital music pioneer Fred Davis; former MTV exec Jason Hirschhorn; former Tribune President of Broadcasting Ed Wilson; founding CEO of ESPN.com Mike Slade; and Casey Wasserman, CEO of WMG.
Heckman previously founded online sports sites Rivals.com and Scout.com, the latter of which was sold to Fox in 2005. Rivals.com — which raised $70 million in venture capital and hit the wall during the dot-com bust — eventually sold to Yahoo in 2007 for a reported purchase price of $100 million. That deal came well after Heckman had left to create Scout.com (founded in 2001), a competitive site to Rivals.com.
Kara Swisher at All Things D reported earlier this month that 5to1.com was being purchased by Yahoo for about $25 million.