Ad and media management vendor acquires Rare Crowds, a programmatic ad tech vendor
MediaMath has made its second acquisition in a month, purchasing startup ad tech player, Rare Crowds, to extend its programmatic ad capabilities for brands.
Rare Crowds is an open source technology vendors that uses machine learning algorithms and optimisation tools to determine the best media to match a marketer’s campaign and audience targeting to.
The programmatic vendor launched just under two years ago and is led by CEO and co-founder, Eric Picard, a Microsoft veteran and founder of ad technology pioneer, Bluestreak. The company’s investors include founder and CMO of Underscore Marketing, Tom Hespos; Hulu SVP of sales and former IAB America chairman, Peter Naylor; founder and CEO of Mediasmith, David Smith ; and PopTent CEO, Nick Pahade.
Under the agreement, Picard joins MediaMath as its vice-president of strategic partnerships, a role which also encompasses its Akamai alliance. Financial terms of the deal have not been disclosed.
The acquisition comes just a month after MediaMath purchased social advertising management tool, Upcast Social, adding a social advertising capability layer into its core TerminalOne Marketing Operating System.
The buying spree has been made possible after MediaMath raised more than US$73 million in its latest investment funding round in July, bringing its total funding to $175m.
“I have been following MediaMath’s success since the company’s earliest days,” Picard said in a statement announcing the deal.
“I couldn't be more excited to join a market-leading company on the edge of innovation, whose commitment to delivering marketer outcomes is one I share. I look forward to helping drive the company's growth as we look to bring the benefits of programmatic marketing into new parts of the ecosystem.”
Programmatic advertising: Digital marketing’s saviour or real-time headache?
MediaMath chief commercial officer, Mike Lamb, said Picard’s appointment would help its efforts to extend programmatic ad buying across the full media spectrum.
“We think there's a huge opportunity for new technology to transform media planning and buying. The combination of Eric's experience and leadership with Rare Crowds technology brings us two steps closer to delivering game-changing new capabilities for our clients,” he said.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu
People whose personal details and experiences signal they come from racially diverse backgrounds are less likely than anglo or Caucasian candidates to make it through the first cut in recruitment processes. Even if the organisation says it values diversity.
The impact of coronavirus is far reaching with the true impact on the economy and businesses is unknown. While there are a few categories and brands experiencing growth, for the most part the crisis is wreaking havoc for large and small operators across many sectors including entertainment, tourism, retail, fitness, services and the list goes on.
There is no doubt the challenges we are facing as businesses, advertisers and audiences with COVID-19 are all unprecedented. But with this comes an opportunity to take stock and re-evaluate current strategies, plans and processes to drive efficiencies and relevance in today's market.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
Great article. Well said!Https://www.virtualtradesho...Virtual conference
Curtis Okeefe
Can virtual events fill the digital conference gap?
Why these voice assistants are so popular nowadays? Maybe I should get one too? I am really curious.
Jill Kim
Aussie brands jump on voice-interaction bandwagon following Amazon Alexa's local launch
We encourage you to share your thoughts on your favorite social platform. Digital Marketing Consultant HyderabadDigital Marketing Analyst...
Chaitanya Nandigam
CMO interview: Charting a new customer course at a NFP fintech
Extremely insightful and well written. Thanks for the great article!
Nicole Brodie Nahum
Why COVID-19 makes it more important than ever to move at the speed of the consumer
Blockchain is one of the fastest growing technology in today's digital era. Industries like banking and finance are already using blockch...
Aniket Singh
Can blockchain deliver on its big advertising promises?