Kargo acquires StitcherAds for $64 million, bringing Kargo’s media to spend to $550 million combined
Kargo, a leader in high-impact digital advertising, today announced the acquisition of StitcherAds, a powerful commercial-focused paid social advertising company. The StitcherAds paid social commerce platform extends Kargo’s solid range of integrated Omni-channel products and offers a full range of solutions for advertisers looking to run digital campaigns across multiple screens to increase ROI. With the addition of StitcherAds, Kargo can offer retailers cross-platform performance marketing, “compress the traditional customer journey” and reduce the complexity of a brand strategy.
StitcherAds is an enterprise marketing platform that drives online and offline sales for walled garden retailers and brands. The technology uses real-time product feeds and consumer data to generate dynamic, personalized product advertising, including a circular digital experience. Your product discovery ads will appear on Facebook, Instagram, Snap, TikTok, and Pinterest.
With the acquisition of StitcherAds, Kargo will have an average total spend of $550 million managed by major retail advertisers including Macy’s, Saks Fifth Avenue, Bed Bath & Beyond, Finish Line, JOANN Fabrics & Crafts, and Calvin Klein. Kargo is also significantly expanding its physical presence from 220 to 350 employees in 13 offices around the world while maintaining StitcherAds’ headquarters in Ireland.
“I am delighted to welcome StitcherAds to the Kargo family at such an exciting time in our history. The StitcherAds platform provides powerful advertising capabilities for our retail and CPG clients. Now we can offer a true product portfolio that expands our presence on paid social media,” said Harry Kargman, founder and CEO of Kargo. This acquisition is another step in our strategy to deliver a full range of solutions to our customers. “
“StitcherAds and Kargo are a great combination that combines Kargo’s premium advertising market with our commercial approach to social media marketing,” said Declan Kennedy, CEO of StitcherAds. “We are excited about the new capabilities to deliver end-to-end funnel solutions that this acquisition offers us and the deep omnichannel capabilities we will bring to market.”
