- Serial entrepreneur Gary Vaynerchuk is getting into the ad barter business with a new agency called Tingley Lane Trading.
- It’ll be part of Vaynerchuk’s ad holding company, VaynerX.
- His pitch is that it’ll give clients access to high-quality ad inventory and other offerings like social.
Serial entrepreneur Gary Vaynerchuk is getting into the barter business with the launch of a new agency, Tingley Lane Trading.
Barter agencies work by taking a company’s excess or impaired inventory — anything from office equipment to clothing — that’s collecting dust in a warehouse, reselling it, then exchanging it for discounted ads. Some of the biggest
have barter agencies, including WPP with Midas Exchange, and IPG with Orion Worldwide.
Barter agencies typically thrive in tough economic times. But with global supply chain issues causing more inventory shortages than surpluses, now might not seem like the best time to launch a barter agency.
However, Vaynerchuk — the CEO of ad agency VaynerMedia and chairman of its parent, holding company VaynerX — said he’s been eyeing the barter business for some time because of its entrepreneurial nature.
Tingley Lane Trading is named after the street in Edison, NJ, where Vaynerchuk grew up and got his start as an entrepreneur, selling lemonade, holding garage sales, even turning a friend’s backyard into a mini golf course.
Tingley Lane will be part of VaynerX, which houses ad agency VaynerMedia and ventures like NFT consultancy VaynerNFT, and is led by President Joshua Smith and Chief Strategy Officer Dan Ciccone, who cofounded a trading agency called Atlas Corporate Solutions in 2019. Cole Boyer, who led partner development for Atlas, will be executive vice president of partnerships. Tingley Lane Trading is looking to expand to about 25 people.
Typically the ad inventory that barter agencies trade in is considered low quality, or as Vaynerchuk described it, “remnant television or below-exciting digital programmatic stuff.”
Tingley Lane Trading’s idea is to improve the quality of the inventory being traded by securing high-quality ads that drive results for clients and offering advertising services in social media,
, TikTok strategies, and Web3 activations, in exchange for goods. Vaynerchuk said the agency is considering adding the ability to barter for creative assets.
“What differentiates Tingley Lane Trading is our resources and partnerships which enable us to deliver effective, audience-first media campaigns,” Smith said.
Vaynerchuk said the company already has about a dozen clients, which he declined to name.
Vaynerchuk has known Smith and Ciccone, who both worked for the trading firm Sherwood Integrated Solutions before starting Atlas, for about two decades. They’ve been in talks about teaming up since 2020.
Smith said being part of VaynerX would let him expand to new media offerings and be more selective about the clients they take on.
“We have the ability, with Gary’s reputation, to be extremely calculated about who we go after instead of going after every single company,” he said. “There are companies we may not want to do business with.”