Online Advertising and Where 1240 Companies Are Connected

Online advertising is a remarkably complex field. Terence Kawaja has a new way for potential investors to visualize it.

The market involves hundreds of small and large companies that help advertisers reach consumers and help website publishers, mobile-application developers, search engines and other digital destinations generate revenue through advertising.

Kawaja, who runs boutique investment firm LUMA Partners, spent months putting together six new graphics that show how 1,240 different companies fit into the following categories of online advertising: display, video, search engines, mobile, social, and commerce.The graphics, Kawaja says, help “large strategic acquirers” such as Google, Yahoo and Adobe to identify possible targets of acquisition.