Digital Advertising Platform Cardlytics Set to Acquire Dosh For $275 Million in Cash & Stock

 

Cardlytics (NASDAQ: CDLX), a digital advertising platform, announced today its planned acquisition of Dosh, a cash-back offers platform, for $275 million in cash and stock.  Founded in 2016, Dosh’s mobile app notably delivers an individualized consumer experience, providing the “right offer” to the right person at the right time, which has resulted in year-over-year growth in new brands leveraging its advertising platform to drive sales.

“In the past year, Dosh expanded its product offering by enabling financial institutions, neo-banks, and fintech companies – like Venmo, Betterment, and Ellevest – to rapidly deploy its platform in their own digital channels to remain top of wallet with customers.”

While sharing more details about the acquisition, Lynne Laube, CEO and Co-Founder of Cardlytics, stated:

“Dosh’s technology is extremely complementary to the long-term financial institution integrations and substantial scale we’ve built over the past 13 years. With the addition of Dosh, Cardlytics will accelerate its ongoing efforts to improve the advertising industry through our brand-safe alternative, which provides superior returns based on actual purchases. This creates real value for consumers, advertisers, and our bank partners.”

Ryan Wuerch, CEO and Co-Founder of Dosh, further commented:

“Combining our technology with Cardlytics’ scale, we have an opportunity to drive significant revenue for our advertisers while putting money back in the wallets of consumers. We are excited to join the Cardlytics team and are looking forward to positively impacting consumers and merchants.”

To date, Cardlytics has provided more than $500 million in cash back to consumers, while also driving positive, measurable results for its advertisers across a variety of industries including retail, restaurant, telecommunications, direct to consumer, grocery, and travel.

BofA Securities is acting as financial advisor and Cooley LLP as legal advisor to Cardlytics. This transaction is expected to close later in 2021’s first quarter.

 



Sponsored Links by DQ Promote

 

 

Send this to a friend