Magnetic and MyBuys Announce Merger and $25 Million in Equity Funding
Ad Tech and Marketing Tech, Together At Last
NEW YORK, May 20, 2015 /PRNewswire/ -- Digital advertising technology company, Magnetic announced today that it is merging with MyBuys, the leader in multi-channel marketing and personalization. The united company will enable marketers to better connect with people by creating a single, comprehensive view of their purchase journey across devices, channels, and buying stages.
Magnetic's platform collects search and purchase intent signals from in-market shoppers on hundreds of thousands of sites. MyBuys leverages deep knowledge of consumers' online and offline purchases and shopping behaviors to deliver personalization solutions. This unique combination helps marketers prospect, acquire, convert and reactivate customers across a variety of channels, including display, email, on-site, and mobile, all on a single platform and in real time.
The combined entity will operate under Magnetic's name, and will be led by James Green, Magnetic's CEO. MyBuys CEO Rita Brogley will join the Magnetic Board of Directors. The new Magnetic will have $100 million in revenue and a global footprint of 700 customers.
"Our unified strengths help marketers transform the way they connect with their customers," said James Green, CEO of Magnetic. "Marketing automation and programmatic buying are two essential yet separate elements of every brand's marketing strategy. We constantly hear from marketers that there are too many point solutions. Our merged product suite frees marketers from such traditional silos by bringing them together under one roof. It's super exciting to be at the forefront of such a dramatic shift."
Rita Brogley, CEO and President of MyBuys added, "Very few companies benefit from such an exceptional set of data and technology assets. But what sets us apart is having talented and passionate teams that are focused on delivering results for our clients. Together we have the opportunity to reshape the way marketers engage with people everywhere they shop, and at every stage of the customer journey."
Magnetic also announced that it raised a $25 million round of equity funding led by Edison Partners with the participation from Charles River Ventures, ORIX Ventures, the Honeywell pension, Jonathan Kraft, Roger Ehrenberg, and others. The new investments will turbocharge Magnetic's product innovations.
Internet Retailer has named MyBuys the number one personalization provider for the past six years, and Forbes named Magnetic one of "America's Most Promising Companies" in 2015.
For more information on the merger between Magnetic and MyBuys, visit our blog.
About Magnetic
Magnetic is a digital technology company specializing in retargeting solutions that combine intent data with display advertising to power brand awareness and direct response campaigns. Magnetic uses billions of search data queries and a proprietary bidder to programmatically buy and reach audiences who have signaled either interest or purchase intent where they spend 96% of their time online – on news sites, blogs, e-commerce sites and social networks. Founded with a specialized focus on search retargeting, Magnetic's advertising solutions also extend to site retargeting, and include advanced media optimization and buying and dynamic creative capabilities.
Magnetic is headquartered in New York City, and has offices across North America and Europe. For more information please visit www.magnetic.com.
About MyBuys
MyBuys provides coordinated personalization solutions for display ads, email, websites and mobile devices to retailers, brands and agencies. We automate and deliver billions of targeted offers each day using their Active Shopper Database comprised of the behaviors and purchase intent of 250 million consumers. MyBuys has been named the top provider of personalization solutions to the IR500 every year since 2009, and is headquartered in Silicon Valley, with offices in Ann Arbor and New York. Visit www.mybuys.com for more information.
SOURCE Magnetic
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article