Colo. – Trada, the operator of an
online marketplace that lets small and medium-sized businesses
"crowdsource" their paid search advertising, has raised $2.2 million
in its first round of financing, from Foundry Group and angel investors.
Boulder, Colo.-based Trada, whose service entered private
beta in January, so far counts 70 advertiser clients and 280 "paid search experts,"
who earn money by generating low-cost clicks and conversions for advertisers.
company says it is generating an average 3.6% conversion rate on its ads,
compared with an industry average of roughly 2%.