Google purchases Invite Media

According to All Things Digital, Google has acquired Center City-based Invite Media for a price tag “in the $70 million range.”
Invite Media, backed by First Round Capital and Comcast Interactive Ventures, acts as a central real-time dashboard for buying web display ads. It’s likely that Google will use Invite’s technology to help further streamline its advertising business, which accounts for nearly all of its revenues.
The company was founded by Penn grads Nat Turner, Zachary Weinberg and Scott Becker and also has offices in the 67th Ward.
This isn’t the first time Google has shown love to the 215, the company also invested in DreamIt vet SCVNGR last year. Google also has been on a bit of an acquisition binge this year, snapping up seven companies since April.
Edit: More details on All Things Digital and on Silicon Alley Insider.