By Tim Maytom
Digital marketing and mobile advertising startup Glispa has been purchased by Market Tech Holdings, the owners of Camden Market along with numerous other property and eCommerce investments.
Berlin-based Glispa counts Alibaba, Amazon, Zynga and Flipkart among its current customers, and serves 400bn ad impressions and 1bn active users per month. The $77m (£51.9m) investment for 75 per cent of the company is the first funding the company has raised.
The investment by Market Tech, which has a market cap of $1.4bn, will enable Glispa to open additional offices, expand it global footprint, bolster its proprietary ad and optimisation technology and hire additional staff.
The acquisition complements Market Tech’s eCommerce holdings, such as fashion protal Market.com, and Glispa will become a key part of the firm’s digital strategy, becoming a full service solution provider for its own brands.
“Glispa’s market-leading technologies and team will add significant value to our business and I want to start by welcoming Glispa to Market Tech group,” said Charles Butler, chief executive of Market Tech. “We see the future of online retail being via mobile devices and Glispa’s proprietary technologies are at the cutting edge of mCommerce, helping businesses interact with their customers on-the-go.”
“With the Market Tech portfolio …read more
Source:: Mobile App News