MUMBAI: Google, which had bought DoubleClick for $3.1 billion last year, has launched DoubleClick Ad Exchange in a bid to attract a bigger chunk of the display advertising market.

The ad exchange is a real-time marketplace that will helps large online publishers and ad and agency networks buy and sell display advertising space. These publishers and ad networks manage and represent large volumes of ads and ad space from advertisers and websites.

Said Google VP product management Neal Mohan in the company blog, "By bringing them together in an open marketplace in which prices are set in a real-time auction, the Ad Exchange enables display ads and ad space to be allocated much more efficiently. This improves returns for advertisers and enables publishers to get the most value out of their online content."

The new property will be available to Adwords and AdSense users who can access it using their existing interface. They can buy and sell display ads alongside search advertisements.Currently, Yahoo is ruling the display advertising market space. Yahoo bought Right Media, the online display exchange company, in 2007 and presently provides display advertising to approximately 120,000 companies.