Berlin-based startup glispa, which focuses on mobile ads and digital marketing, has landed a $77 million investment from UK property and e-commerce investment company Market Tech Holdings.
Glispa was launched in 2001 in the US before relocating to Berlin in 2008. The company’s offerings consist of solutions for mobile, social media and search engine marketing as well as media planning and buying.
In addition to its Berlin headquarters, the company has offices in Beijing, San Francisco, Bangalore and Sao Paulo.
Glispa’s advertising customers include Alibaba and Amazon, with the company serving approximately 400 billion ad impressions to one billion active users each month.
Co-founder and CEO of glispa, Gary Lin, stated that the $77 million results in a 75% stake in his company, or a valuation of $103 million. Lin said this is the first time that glispa has ever raised money.
Glispa plans on using the funds to expand its business and global footprint, which could include acquisitions of its own.
The investment is also likely to represent a strategic move for Market Tech. Mobile ads are due to make up 22.3% of all ad spending worldwide – worth $158.55 billion – by 2018, according to market research company emarketer.
“Glispa’s market-leading technologies and team will add significant value to our business and I want to start by welcoming Glispa to Market Tech group,” said Charles Butler, chief executive of Market Tech.
“We see the future of online retail being via mobile devices and glispa’s proprietary technologies are at the cutting edge of m-commerce, helping businesses interact with their customers on-the-go.”