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| VIEW EVENT INFORMATION: Snap |
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Sources: Snap Has Acquired Metamarkets For Less Than $100M To Step Up Its Ad Tech play |
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About the organization Snap:
Type: Business
Sub-Types: Application Software, Computer, Computer Software, Picture Hosting Agent, Video Hosting Agent, Website, Telecommunication, Telecommunication Software, File Sharing Agent, Internet |
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Notable Organizations: Snap, Techcrunch
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| As Snap, the parent company of Snapchat, gears up to report its quarterly earnings next week, it looks like the company is making some moves to beef up its primary business line, advertising.
TechCrunch has learned that the company has acquired Metamarkets, an ad tech startup that provides programmatic ad data-related services to marketers, such as a data dashboard to measure how campaigns are performing; an API to import your programmatic data into other apps; and inventory discovery and bid monitoring for exchanges.
Clients that use its data tools include large media properties like Twitter and Oath (which owns TechCrunch but also Yahoo and Aol and the Huffington Post), marketing dashboard Nanigans and many more.
Neither Snap nor Metamarkets have responded to requests for comment but two sources have confirmed the deal to us. One, an ex-employee, received a stock alert about the transaction that noted that the agreement and plan of merger happened on October 24 (meaning, it may not have completely closed). The second confirmation came from a source close to the deal, and said that the acquisition is for under $100 million.
Metamarkets is profitable and currently generating tens of millions in revenues, the second source said. It’s not clear what happens with the company’s existing business as part of the deal.
Metamarkets, which has been around since 2010, had raised just under $58 million from investors that include Khosla, True Ventures, Data Collective (where Metamarkets CEO Mike Driscoll is also a partner), IA Ventures, AOL Ventures and a number of others. |
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