According to AdAge, via Paid Content, Spot Runner is being sued by WPP.   Spotrunner is a self-serve TV ad platform.

The company’s investors include:

Since launching three years ago, Spot Runner has raised $111 million from number of investors, including UK media group Daily Mail (LSE: DMGT) and General Trust, Spanish-speaking media giant Grupo Televisa, hedge fund Legg Mason Capital Management, French luxury group Groupe Arnault/LVMH, who were the most recent. Original backers include Allen & Company, Battery Ventures, Capital Research and Management, CBS, Index Ventures, The Interpublic Group, Tudor Investment Corporation as well as WPP.

Adding insult to injury, Spot Runner has had 3 rounds of layoffs.

How does that $111M in funding break down?  According to Crunch Base:

- Series A = $10M invested in January 2006
Battery Ventures
Comerica Bank
Index Ventures

- Series B = $40M invested in October 2006
Allen & Company
Battery Ventures
Capital Research and Management
CBS
Index Ventures
Tudor Investments
WPP
Lachlan Murdoch
Vivi Nevo
Interpublic Group

- Series C = $51M in May 2008
Daily Mail and General Trust
Grupo Televisa
Groupe Arnault/LVMH
Legg Mason

That list of investors is almost Madoff-esque, no?

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