StitcherAds, a Waterford-based software company, has been acquired for €55m.
The buyer of StitcherAds is the US adtech firm Kargo, which expects to exceed $100 million in revenue this year.
StitcherAds, which announced plans to hire 40 people earlier this year, is a marketing platform that assists advertisers in publishing paid ads that drive sales via Facebook, Instagram, Pinterest, Tiktok and Snapchat, as well as providing useful analytics. Wayfair, Calvin Klein, and Bed Bath and Beyond are among its clients.
StitcherAds was founded in 2009 by Declan Kennedy and Conor Ryan and currently employs around 120 people.
It currently has offices in Texas, London, New York and at its headquarters in Waterford.
Declan Kennedy, Chief Executive at StitcherAds said:
“StitcherAds and Kargo are a fantastic match, bringing together Kargo’s premium advertising marketplace with our commerce-driven approach to social media marketing.”
Harry Kargman, Kargo Founder and CEO stated:
“We can now provide a true multi-platform product portfolio that expands our footprint into paid social.”
More news around the region here.
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