Avocarrot acquired by Glispa Global Group
Avocarrot, member of Endeavor, global non-profit organization supporting entrepreneurship, announced its acquisition by Glispa Global Group for $20 m., according to foreign press, almost three years after its launch by Conno Christou, Georgios Makkoulis, Giorgos Eracleous, and Panagiotis Papageorgiou.
Avocarrot is based in Athens and San Francisco and specializes in native ads for mobile applications. Native ads are advertising formats that are designed to blend into and mimic the look and feel of the rest of the content of the mobile app (labeled as “sponsored”). The company’s product, Avocarrot Exchange, is a marketplace for native mobile ads that offers great advantages for both publishers (mobile apps) and advertisers (brands, advertising agencies, etc.). On the supply side, publishers can easily integrate the technology and enjoy 17x higher click rates than banners, get more money and offer seamless user experience. On the demand side, advertisers benefit from higher conversion rates than traditional mobile banners. The company manages >4 billion mobile ad impressions per month and works with 2,500 mobile apps. It has received $2M investment by international and local funds, such as Venture Partners, and angel investors, has been awarded as 1 of the 8 best companies from Google for Entrepreneurs and voted as the ‘Next Big Thing’ at the advertising technology conference ad:tech in 2013. In March 2016, the company joined Endeavor network at the Dubai International Selection Panel.
Glispa Global Group launched in 2008 and is a mobile marketing ad tech company. It is based in Berlin with presence in 180 countries. glispa has more than 100 employees from 35 nationalities. The company has been selected as winner of the Red Herring award and was named one of INC.’s 500 fastest growing companies.
In the framework of the deal, Avocarrot’s “programmatic exchange” will soon integrate with Glispa’s Ampiri native advertising monetization platform with a single user interface, a single SDK, and a combined integration of ad-networks and DSPs. Avocarrot’s four founders and 14 additional Avocarrot engineers will join the Ampiri team of engineers and data scientists.