Coull – the sole video partner of Google Affiliate Network and YouTube – has announced the takeover of marketing agency RevUpNet for $2 million. The agency is seen as Coull’s stepping stone into the performance marketing industry in the USA.
Online-based agency RevUpNet is said to have strong relationships with publishers, and in the last three years it was able to deliver $60 million in sales. These financial figures contributed to the Coull directors’ belief that the acquisition would provide exponential growth opportunities.
Coull has a large and expanding database of advertisers – including the likes of Dell, Sears and Puma – but it is still a loss-making venture despite this. The company hopes that the addition of RevUpNet will combine with its organic growth to combat this problem, and it has set an aim of becoming profitable by Q3 of 2012.
Financial help has also been sought through the medium of PLUS Markets quoted financial services group, Webb Capital. The company has disclosed that Coull has been successful in another round of fund-raising, raising £570,000 through new and existing investors. This money is earmarked for use in the transformational acquisition of RevUpNet.
CEO of Coull, Irfon Watkins, is under no illusion as the benefits of breaking into the US market. “It was essential to the growth of Coull that we build a US business. As a result of this acquisition we are well positioned to build on recent client wins including Sears, Puma and Under Armour. [We] expect 50% of our business to come from US within the next 12 months,” he prophesied.