One Fewer Ad Network: Peer39 Shuts Down “Semantic Ad Network,” Concentrating on Technology

I’ve yet to find anyone with a firm grip on the number of ad networks out there: 300? 400? Many more? But now there’s one fewer: Peer39, a New York- and Israel-based company, has turned off its “Semantic Ad Network” and laid off its four-person sales staff.

CEO Amiad Solomon says the company will focus its resources on its core semantic technology, which is supposed to let publishers, ad agencies and other clients quickly assess the content on any given Web page and post an appropriate ad. The company employs 50 people, but will expand to 60 or 70 by the end of this year, Solomon tells me.

The company has raised $11.7 million from Canaan Venture Partners, Dawntreader Ventures, and J.P. Morgan.