multinational influencer marketing company, izea, announces letter of intent to buy colombian startup, fluvip
Contxto – Izea, the multinational influencer platform, publicly announced its intent to buy Colombian Fluvip, during the 2019 CES conference.
Fluvip is a startup from Bogota that connects influencers and content creators with brands across Latin America and the Spanish-speaking population in the US.
Its machine learning technology allows advertising brands to pinpoint thought leaders within their space, and create collaborative marketing campaigns with them. On top of that, users’ reactions to these campaigns get tracked so that companies can measure their real-time ROI and effectiveness.
Founded in 2013 in Bogotá by Sebastián
It has raised five funding rounds, already. The most recent one was led by The Venture City, Velum Ventures and Grupo Cisneros for USD $4.5M, in 2018.
High M&A Activity
Fluvip, which acquired Brazilian celebrity social network, Spark Inc. in 2016, is now about to be eaten by a bigger fish.
The US publicly traded company, Izea, announced its LOI to acquire Fluvip during the CES 2019.
Izea – which connects influencers with companies such as Google and Toyota – has been quite active in M&A deals, with over 7 acquisitions, including ContentMarketing.com, TapInfluence, and now Fluvip.
Fluvip’s network of over 100k influencers all across Latin America, and the region’s relatively high internet and mobile penetration added up perfectly for Izea to consider this acquisition to ensure a smooth expansion into the south-neighboring countries – a quick way to improve its poorly performing stock price, perhaps? -.
Details have to be confirmed yet, although the deal seems to be formalized in May of this year.
– VC
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