Madvertise buys Mobilike, expands into Turkey2012-04-17 9
Mobile advertising platform Madvertise has acquired Turkey’s Mobilike, and will use that country as a hub for future expansion in the Middle East and North Africa (MENA) region.
Turkey is one of the world’s fastest-growing economies, with high mobile penetration and a young and affluent audience, Madvertise CEO and co-founder Carsten Frien (pictured left) said today. This makes it a logical next step in Madvertise’s “aggressive” plans to become a European market leader.
Mobilike, founded in 2009, is one of Turkey’s leading mobile advertising companies with an over 60 per cent market share in that country. It works with a number of large media groups (including DYH and Doğuş Media Group) and rates at over 300 million page impressions per month.
Founders Şekip Can Gökalp and Volkan Biçer (pictured right) said today the deal would help Mobilike secure its spot as a leader in the mobile advertising industry. “This is the start of something big”.
Madvertise’s Frien told the Wall Street Journal that Madvertise would keep the Mobilike brand as well as introduce its own, which has a particular focus on “technology and targeting”. The Mobilike acquisition will extend Madvertise’s reach to nearly two billion monthly page impressions.
Next stop, MENA
Madvertise, founded in 2008 with the support of Team Europe (also a shareholder in VentureVillage), completed a US$10 million series B financing round in October. International VCs Earlybird, Blumberg Capital, Point Nine Capital and Felicis Ventures are also investors.
Following today’s annoucement, the company has over 90 employees with offices in Berlin, Hamburg, London, Barcelona, Madrid, Milan, Paris and Istanbul.
Madvertise spokesperson Christoph Burbes said Turkey would be an important hub for future business in the wider Middle East and North Africa region.
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