Media Owner FAQs

What are the terms of the deal?

The deal is a Series B funding round of $30M. According to the terms of the deal, Lamar will gain a minority equity stake in Vistar and a seat on Vistar’s Board of Directors. Vistar will continue to operate as an independent technology partner to buyers and sellers across the global OOH ecosystem.

What does a "minority stake investment" mean? 

A minority investment is a non-controlling share in a company held by an investor or another company.

Who are the participants in the Series B round? 

Lamar Advertising Company is the sole investor in the Series B funding round.

Does this mean Vistar is no longer operating independently? 

No. Vistar will continue to operate fully independently. On the supply-side of Vistar's business, we will continue to work agnostically to support all media owner clients.

What does Vistar intend to do with the funding? 

We will be using this funding to accelerate global expansion, fuel our R&D efforts and strengthen our balance sheet. For further details, please reference the 7/12/21 letter from CEO Michael Provenzano, available on the Vistar blog.

Why did Vistar choose to seek funding? 

There is tremendous momentum in the OOH and ad tech industries right now, and at Vistar we find ourselves hustling to take advantage of the current opportunity. The time is now to double down on our business and accelerate toward a growth rate that cannot be achieved organically and requires funding to accomplish. This is why we began evaluating different potential funding paths in Q3 of 2020. Through that evaluation, our longterm client and partner Lamar emerged as an opportunity for investment that would align well with our existing company strategy. Lamar has seen first hand the value of Vistar's technology and team, and they believe in the future growth of the role software will play in media transactions and network operations.

Lamar only operates in the U.S. and Canada. How will this investment impact Vistar's global strategy? 

Vistar will continue to operate as a global company, and in fact this investment will help further accelerate Vistar's expansion beyond North America.

Is this related to the Lamar Partnering Corp SPAC? 

No. This investment is entirely separate from the LPC.

Is the Lamar investment exclusive / does it prevent Vistar from seeking funding from other sources? 

No, this investment is not exclusive and Vistar faces no restrictions on adding investors to the Series B funding round or seeking additional capital in the future.

Will someone from Lamar be joining the Vistar board? 

Yes. In conjunction with this announcement, Vistar will be expanding our board to include a representative of the Series B Shareholders (in this case, Lamar) and an additional independent representative.

Will this give Lamar access to proprietary information about other networks (revenue, rates, etc.)? 

Lamar will not gain any access to proprietary media owner information. Our board members are expected to serve their fiduciary responsibilities which includes acting objectively on behalf of the company and not placing the organization under unnecessary risk that could arise from a conflict of interest.

Will Lamar receive any preferential treatment on the Vistar exchange, either commercially or technically? 

Lamar will not receive any preferential treatment on the Vistar Exchange, either through technical prioritization or influence over where buyer budgets are directed.