Multiply has acquired a stake in US advertising firm Yieldmo
Abu Dhabi, UAE: Abu Dhabi-based Multiply has acquired a stake in Yieldmo, one of the world’s fastest-growing digital advertising and attention analytics companies.
Multiply, which is fully owned by Abu Dhabi-listed International Holding Company (IHC) (ADX: IHC), is pursuing growth opportunities through international partnerships and key investments.
The investment in Yieldmo opens the door to collaboration to enhance Multiply’s services, which include branding, marketing strategies, advertising, social media and market research.
Backed by other premier investors such as Google Ventures and Union Square Ventures, Yieldmo has developed a mobile advertising platform that captures insightful datasets, which are then combined with machine learning capabilities to deliver a superior advertising experience for consumers and higher return on investment for clients.
“Our investment in Yieldmo is in line with our ethos to get ahead of emerging trends and be creative in how we scale up and boost efficiency,” Multiply’s Managing Director, Samia Bouazza, said. “It’s a question of adapting to the rapidly changing landscape or risk becoming obsolete.”
“Only last year, the industry was referring to “martech” solutions as the ‘marketing of the future’, but we are already entering this new era at full speed,” added Bouazza. “Yieldmo is at the forefront of employing technologies to create beneficial solutions for consumers and marketers. This is making the marketing industry more efficient, creative and data-driven.”
Since its establishment in 2003, Multiply has grown to become one of Abu Dhabi’s leading communications agencies, catering to Government entities, as well as large companies and startups.
In early 2020, Multiply was acquired by IHC as part of the investment company’s diversification strategy, which includes expansion into high-growth industries and tech-driven companies. IHC is the fifth most valuable publicly listed company in the UAE and has assets worth AED 10.7 billion.
In 2019, Multiply became the largest shareholder in Abu Dhabi-based Viola Communications, complementing its existing services with events, print and outdoor advertising.
Date: September 15, 2020