Invite Media, a Philadelphia and New York-based exchange startup, has rolled out its new cross-exchange bid management tool. Aimed at agencies and ad networks, Bid Manager allows users to buy ad impressions across multiple ad exchanges in real-time through one interface. Several major agencies and ad networks are already using the Bid Manager platform.

Nat Turner, co-founder of Invite Media, believes it’s the first universal buying platform for the numerous ad exchanges presently available:

There are companies in the market, who claim they are offering a similar service, but our software is the first to offer agencies and ad networks this service as a platform. We are working with most of the major exchange players, such as Right Media, the DoubleClick exchange, and AdECN – and we have more about to come on board. We are trying to offer an “E-Trade” type service, with our software plugged into the top exchanges. We aim to provide a seamless real-time media buying process, and we want to give the media buyer the keys.

He is also encouraged about the potential of ad exchanges, and how they could transform the industry - but thinks the disintermediation of ad networks has been exaggerated:

There are some really interesting ad networks working in our industry, and there will continue to be a ton of ineffeciency. Instead of being taken out of the supply chain, I think they will evolve. There will certainly be some casualties, but in twelve to twenty-four months I see three types surviving: those using proprietary data; those offering buyers incredible technology to target audiences; and the agency-ad-network hybrid, which will compete for ad budget directly from advertisers. We call these new outfits “publisher-less networks,” in that they no longer manage large publisher bases, and instead focus their efforts on smarter buying.

The cost of this service will be based on the volume of inventory traded through Invite Media’s platform. Other companies, like MediaMath, are likely to launch a similar service in the coming months. All these developments will allow more marketers, agencies and ad networks to buy ad impression across multiple exchanges.

This new service from Invite Media will no doubt make the media buying process a lot easier, and is likely attract more buyers to the exchange model.