Former AltaVista Exec to Launch Ad Network

BusinessWeek reports Jim Barnett – former exec at Altavista and Overture – is planning to launch a next generation advertising network called Turn.

He has $10 million in venture funding, and some 16 PhDs in-house. The idea is that advanced search will target advertisements to users with a precision we’ve not yet seen.

Oh really? We’ll keep an eye on this one.

Shout to SiliconBeat for their keen eye.

Andy Beal is an internet marketing consultant and considered one of the world’s most respected and interactive search engine marketing experts. Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian.

You can read his internet marketing blog at Marketing Pilgrim and reach him at andy.beal@gmail.com.