LoopMe Enhances Portfolio with Chartboost Acquisition from Zynga
Deal News | Dec 11, 2024 | Business Cloud
LoopMe, a London-based company known for leveraging artificial intelligence to enhance brand advertising, has acquired Chartboost, a San Francisco-headquartered mobile advertising and monetization platform, from Zynga Inc. The acquisition is part of LoopMe's strategy to further accelerate its growth, having already achieved a 40% compound annual growth rate in gross revenue from 2018 to 2023 through organic means. While financial details of the deal remain undisclosed, this move is expected to fortify LoopMe's presence in the gaming and mobile app ecosystems. Chartboost provides programmatic advertising solutions that help app developers monetize engaged audiences by connecting them with marketers. It also offers a promising mediation business, which promotes transparency and control for gaming publishers. The acquisition is strategic for LoopMe, enhancing its offerings to brand clients and app publishers through Chartboost's experience and technology. Stephen Upstone, CEO of LoopMe, expressed excitement about the union's potential impact, particularly in mobile in-app and connected TV (CTV) advertising. Frank Gibeau, president of Zynga, acknowledged Chartboost's contributions and expressed confidence in their continued success with LoopMe.
Sectors
- AdTech
- Gaming
- Mobile Technology
Geography
- United Kingdom – LoopMe, the acquiring company, is based in London, thus classified under the UK geography.
- United States – Chartboost is based in San Francisco, and Zynga, its previous owner, is an American company. Therefore, the transaction involves key American business entities.
Industry
- AdTech – The article involves LoopMe, a company specializing in AI-driven brand advertising solutions, and Chartboost, a mobile programmatic advertising platform. Both are major players in the AdTech industry, focusing on optimizing advertising strategies and monetization.
- Gaming – Chartboost was previously owned by Zynga, a leading company in the mobile gaming sector. The acquisition by LoopMe enhances its foothold in the gaming ecosystem, bridging connections with app developers and marketers.
- Mobile Technology – Chartboost's role in mobile app monetization and mobile advertising classifies it under the Mobile Technology industry, contributing to evolving strategies in mobile platforms.
Financials
- $250 million – The acquisition price Zynga paid to acquire Chartboost in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LoopMe | Acquiring Company | Company | A London-based AI-driven brand advertising company. |
| Chartboost | Target Company | Company | A mobile programmatic advertising and monetization platform based in San Francisco. |
| Zynga Inc. | Selling Company | Company | A video game development company and a wholly-owned subsidiary of Take-Two Interactive Software. |
| Take-Two Interactive Software | Parent Company of Zynga | Company | An American video games company, listed on the Nasdaq. |
| Stephen Upstone | CEO & Founder of LoopMe | Person | Leader of LoopMe who commented on the acquisition's strategic value. |
| Frank Gibeau | President at Zynga | Person | Commented on Chartboost's transition to LoopMe. |