Home > General > Affiliate Marketing Forum

---

Glispa Just Scored A $77 Million Investment! (12)

---

"On the heels of France-based MobPartner’s $58 million acquisition by Cheetah Mobile, yet more movement in Europe’s mobile advertising landscape: Glispa, a startup based out of Berlin that focuses on digital marketing and mobile ads, is picking up a $77 million investment from Market Tech Holdings, a UK-based business that focuses on property and e-commerce investments.

Among Market Tech’s notable $1.4 billion in holdings: they own pretty much all the property behind London’s famously funky, touristy and hectic Camden Market; and they own and operate fashion portal Market.com.

Gary Lin, the American-expat cofounder and CEO of Glispa, said in an interview that the investment works out to a 75% stake in the company, or a valuation of $103 million. This is the first time that Glispa has raised any money, he said."

http://techcrunch.com/2015/03/16/ber...m-market-tech/

---

Good news for Glispa

---

Shoutout to Glispa, good peeps. All is deserved.

---

When is gonna be the first round of STM funding bro? Count me in! I just need 1% of it!

---

Always great to see people in the performance world with big funding rounds and exits.

---

Google has some billion or so for acqusitions in the mobile ad space . I read somewhere they are thinking to bid on Inmobi.

---

So this is the first time they raise money and they give out 75% stake in the company? I'm not sure I'm understanding this properly but something does not add up.

---

So great to see big funding entering the space more and more.

Our industry is growing up

---

Great exit for the founders btw. reminded me of @cmdeal speech on building $$$ companies...

---

That's what I'm trying to understand, being a 75% stake investment, I doubt the founders are taking much off the table (at least without a fuck ton of if's)

---

Thats the point - its an exit, not an investment another interesting thing if we will go a bit deeper: Glispa made 60m USD revenue in 2013, and sold the majority of the shares for 75m in 2015. Industry multiplier for agencies is around 1.5x, considering the company which is one of the best in Berlin and a leader in the world, I would expect it to be bigger. But there is no real technology behind networks and the whole business on both supply and demand side is pretty manual. Anyhow, it is interesting to see how it ended up.

---

This is an investment vs. an exit: "The company will be using the proceeds of the investment to expand its business, including acquisitions, particularly in the area of mobile commerce." Under this scenario, the shareholders see a much higher future value (utilizing the benefits of capital/new partners) for the remaining 25% of the equity vs 100% of the equity today.

Glispa sold 75% of the equity in the business for $77 million. This implies a valuation of 100% of the equity equal to approximately $103 million. Using the $60m in revenue, the multiple = $103M/$60M = 1.72x revenue. Much more in line with your expectation

---

Home > General > Affiliate Marketing Forum