$24 million acquisition to fuel Live Video Shopping by accelerating growth in influencer marketing and social commerce globally
STOCKHOLM, May 17, 2021 /PRNewswire/ -- Bambuser today announced the acquisition of Relatable, a global marketing technology company, for approximately $24 million. The purchase will bring together significant core competencies and proprietary technologies for Live Video Shopping and creative influencer marketing campaigns, which will better enable brands and retailers to scale high-impact livestream shopping implementations and drive business results.
The acquisition of Relatable, whose proprietary technology facilitates searching for and booking influencers for creator marketing initiatives, follows a year of remarkable growth for Bambuser and widespread adoption of the company's SaaS solutions for interactive e-commerce. The two companies will operate and service customers independently, yet collaboratively. Relatable founder Martin Garbarczyk will join Bambuser's executive team as Chief Revenue Officer (CRO), contributing his extensive experience building high-performing sales organizations to further accelerate Bambuser's global growth.
To date, both Relatable and Bambuser have partnered with hundreds of brands from around the world, including shared customers like Samsung, Ted Baker and Klarna.
"By joining forces with Relatable, we increase our market pole position with an unrivaled SaaS offering that clearly differentiates us from the competition," said Maryam Ghahremani, CEO of Bambuser.
The acquisition will add significant value to Bambuser and its shareholders by accelerating SaaS revenues and improving customer lifetime value. In addition, the acquisition will add key talent to predominantly Bambuser's global sales teams.
"Bambuser and Relatable are a match made in heaven. I'm excited to build a global sales organization that leverages the enormous market demand and fuels growth to our SaaS business," said Martin Garbarczyk, founder of Relatable and newly appointed CRO at Bambuser.
As a first step in the new relationship, Bambuser will add creative and strategic services from Relatable to its customers, enabling them to amplify campaigns before, during and after Live Video Shopping events. Teams will be co-located in Sweden, the U.S. and U.K., where each company has an established presence, to enhance synergies and drive opportunities for cross- and upselling.
Contact information
Sherry Smith
Corporate Communications
Bambuser AB
+46 8 400 160 00
press@bambuser.com
Certified Adviser
Erik Penser Bank AB
+46 8 463 83 00
certifiedadviser@penser.se
About Bambuser AB
Bambuser is a software company specializing in interactive live video streaming. The company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.
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https://news.cision.com/bambuser/i/martin-garbarczyk,c2913198 |
Martin Garbarczyk |
https://news.cision.com/bambuser/i/maryam-ghahremani,c2913199 |
Maryam Ghahremani |
https://news.cision.com/bambuser/i/maryam-ghahremani---martin-garbarczyk,c2913200 |
Maryam Ghahremani & Martin Garbarczyk |
