Brand Networks Acquires Optimal For $35 Million
Brand Networks has announced that they are acquiring Optimal for $35 million in cash and stock. Brand Networks is a social media marketing firm and Optimal is a social advertising and analytics company.
“We think that the self-serve technology leader in the ability to get [return on investment] from media spend — there’s really no company that was doing it as well as Optimal,” stated Brand Networks co-founder and CEO Jamie Tedford in an interview with TechCrunch.
Brand Networks raised $68 million in funding earlier this year and this acquisition will help the company increase their headcount.
Optimal founder and CEO Rob Leathern will become the chief product officer at Brand Networks. The whole 40 person Optimal team will become employees at the combined company.
Optimal was founded in 2008 with the company name XA.net. Some of their advertiser partners include Gucci, JustFab, Gilt Groupe, and Sephora. Optimal raised $5.1 million in equity from investors like Neu Venture Capital, DoubleRock, The Social Internet Fund, Siemer Ventures, Signal Ventures, and James Altucher.