ShareThis Acquires Socialize and Announces New Funding Round of $23M Led by T-Venture
Acquisition Creates a Powerful New Standard for the Age of Mobile,
PALO ALTO, CA -- (Marketwire) -- 03/20/13 -- ShareThis today
announced that it has acquired Socialize and secured $23M in Series C
financing. Socialize provides app developers with a drop-in social
solution that generates greater user engagement and more downloads by
making apps more social. With this acquisition, ShareThis creates a
unified platform across desktop, mobile web browser and in-app
environments, extending its massive reach of 200 million US internet
users to the mobile app ecosystem.
"We've seen mobile sharing traffic double over the past year so
there's a massive opportunity to combine our deep knowledge of social
audiences and the most engaging content to create truly compelling
mobile ad executions," said Kurt Abrahamson, CEO of ShareThis. "The
acquisition of Socialize and our new round of funding will accelerate
our efforts to deliver an enhanced digital advertising solution for
brands, content optimization offerings for publishers and of course,
the choice and flexibility consumers want in sharing content that
ShareThis' new round of funding is led by T-Venture, the venture
capital company of Deutsche Telekom, and includes new investors
Harbourton and corporate funds represented by West Capital Advisors.
Existing investors Blue Chip Venture Company, DFJ, Illinois Ventures,
Matthew Pritzker Company, Mercury Fund and RPM Ventures participated.
Bernhard Gold of T-Venture will join the company's Board of
Directors. The company plans to use the new funding for product
development and market expansion. With this Series C round,
ShareThis' total funding is $54 million.
"Any time you have a chance to work closely with a team that has an
unparalleled understanding of consumer behavior across all social
channels and devices, it's going to be an exciting opportunity," said
Bernhard Gold, Investment Director, T-Venture. "ShareThis is uniquely
positioned to capitalize on the exploding cross-platform advertising
opportunity and T-Venture is delighted to lead this round of funding
to further support and leverage the growth of the company."
Turning the Spotlight on Mobile Sharing
Socialize's social solutions have been integrated into hundreds of
iOS and Android apps, which have been installed on more than 67
million devices. This acquisition will extend ShareThis' proprietary
measure of the social quality of online content (SQI) to include
in-app mobile social actions. As a result, publishers will be able to
use ShareThis to get specific sharing analytics on desktop and mobile
in a single dashboard with an industry-trusted measure. Both
publishers and app developers will benefit from enhanced ways to
optimize and monetize their apps.
"Mobile app users typically have no idea who the other users of the
same app are. It's like everyone's in the same room... with the
lights off. We 'turn the lights on' by allowing users of the same app
to socialize with each other and have vibrant conversations and
engagement between users around shared interests," says Daniel Odio,
CEO of Socialize. "Together with ShareThis, we'll enable app users to
easily extend activity out to Facebook, Twitter, Google+ -- any
social channel of their choice -- in addition to socializing in-app
regardless of friend status."
Delivering Unified and Creative Solutions for Advertisers
With Socialize, ShareThis will be able to capitalize on the growing
U.S. mobile advertising market, which is forecast to reach $4 billion
in 2013. With its extended reach, the company will gain better
insights into how users engage and influence others resulting in more
effective advertising wherever and on whatever device it's delivered.
By combining unified audience insights along with creative executions
that leverage the mobile form factor, ShareThis will reach new
verticals and cement its leadership in the sharing and mobile
ShareThis powers the social web, touching the lives of 95% of U.S.
Internet users across more than 2 million publisher sites and 120+
social media channels. It makes content more engaging for publishers
and marketing more effective for brands by tapping into the purest
expression of interest-based social activity. ShareThis is the
company for those wanting to make the world more connected, trusted
and valuable through sharing. Based in Palo Alto, CA, the company is
privately held. To learn more visit http://www.sharethis.com
mwolfrom (at) sharethis (dot) com
Cutline Communications for ShareThis
rmanson (at) cutline (dot) com
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