Ecommerce store shoppers

Assembly acquires the Pacvue online advertising store

  • E-commerce software company Assembly acquires retail advertising company Pacvue.
  • Assembly recently completed a fundraiser valuing the company at $ 1 billion.
  • Pacvue is one of a small handful of companies that power retail advertising platforms like Instacart and Walmart.

E-commerce software company Assembly plans to acquire ad technology company Pacvue to capture some of the e-commerce ad space. The terms were not disclosed.

Assembly, backed by private equity firms Advent International and Providence Strategic Growth, has bought out five other adtech companies in the past two years. He built a stack of software that helps businesses run all parts of an ecommerce business, from advertising to analytics and research. Its acquisition of Pacvue will be supported by the recent Assembly fundraiser, led by Advent, which valued Assembly at $ 1 billion.

While Assembly’s other acquisitions have focused on selling retail media services around Amazon, Pacvue gives Assembly access to budgets beyond that giant. Pacvue, four, sells software that helps brands like Unilever and Henkel buy and manage campaigns from 30 retailers that sell ads, including Amazon, Walmart, eBay, and Instacart.

“We started with Amazon and that’s a big part of what we do,” said Sandeep Kella, co-founder and CEO of Assembly. “But we also want to support traders on whatever platforms they sell on.” He added that Assembly is still on the lookout for other acquisitions related to e-commerce.

EMarketer estimates that advertisers will spend $ 24 billion this year in retail media. This money mostly goes to Amazon, but a growing number of retailers are deploying advertising activities to steal shares from Amazon.

But marketers aren’t as familiar with these other retail media companies. Pacvue co-founder Melissa Burdick said Pacvue can now access Assembly resources for entrepreneurs like events, podcasts and best practices for new ecommerce platforms like Instacart.

“There’s a lot of content on Amazon because it’s been around for so long, but there’s a lack of content on pretty much every other platform,” Burdick said.

And the acquisition will help Pacvue grow its workforce by 150 people, as it looks to hire more jobs like the account managers, success managers and data scientists it is currently hiring for. The business has grown incredibly rapidly over the past year, with its customer base and revenue tripling. Additionally, Pacvue has recently expanded beyond adware, introducing tools that help brands manage supply and profitability in online marketplaces.

Pacvue joins a growing list of retail media companies that are getting swallowed up. Publicis Groupe acquired CitrusAd in July, and Ascential purchased e-commerce adtech company Perpetua in April.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *