STAMFORD – Digital promoting firm MediaCrossing, one of many quickest rising startups within the state in recent times, has been acquired by one other firm in its business – however most of its workforce stays in Connecticut.
The acquisition built-in MediaCrossing, headquartered in Stamford, into the managed companies division of Kubient, headquartered in Manhattan, which affords cloud-based software program for digital promoting.
“Our partnership with Kubient will revolutionize the best way advertisers and companies handle their promoting campaigns,” stated MediaCrossing founder and CEO Michael Kalman in an interview. “It would supply our prospects unbelievable improvements that we will ship via the ‘tubes’ of our new firm.”
As a part of the deal, a 10-strong MediaCrossing workforce joined Kubient – together with Kalman, who has change into Kubient’s President for Company and Model Partnerships. These hires made up nearly all of MediaCrossing’s workforce, whereas some workers have been laid off.
Monetary phrases of the acquisition weren’t disclosed.
Since its inception in 2012, MediaCrossing has centered on serving midsize manufacturers and promoting companies throughout the nation specializing in the stay occasions, pharmaceutical, increased schooling, monetary companies, meals and beverage, and different packaged items industries.
“We are able to nonetheless do what we’re good at,” stated Kalman. “However now we will try this with an organization that’s effectively capitalized and has entry to an unbelievable vary of digital media.”
MediaCrossing has grown considerably in recent times. Among the many awards for its enlargement, it was included within the Inc. 5000 checklist of the quickest rising non-public corporations within the nation in 2019, based mostly on three-year income progress of 371 %.
“MediaCrossing has a deep understanding and an unbelievable fame within the business for efficiently serving direct promoting partnerships, which is a rising focus for Kubient,” stated Paul Robert, founder, CEO and chairman of Kubient. “With this acquisition, we not solely have skilled business specialists, but in addition direct entry to MediaCrossing’s buyer checklist.”
With the takeover and the rise in teleworking, MediaCrossing plans to shut its almost five-year-old workplace at 9 W. Broad St. on the outskirts of downtown Stamford by the top of this month. Nevertheless, a lot of the workers are Connecticut residents and plan to remain within the state – together with Kalman, who lives in Westport together with his household.
“Now we have no plans to go away Connecticut,” stated Kalman. “We love being in Connecticut and we like the life-style.”
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