Brand Networks acquired Shift for $50M
In a move to further reclaim Shift’s technology, client list and team that will allow it to provide a complete social marketing platform, Brand Networks acquired the company for an amount of 50 million dollars. Already, the two companies are planning their first steps by launching Shift’s RelevanceRank technology across the Brand Networks platform. Something that means that Brand Networks can now evaluate any piece of content based on how it will perform on different social advertising environments. At the same time, it can recommend when a marketer should increase their budget to give a product a bigger boost. The two companies together manage something more than 500 million dollars in advertising spending for 650 brands and agencies, including Unilever, Yahoo, AT&T etc. It is noted that a couple of years ago, Brand Networks acquired Optimal, another social media advertising company. It must be noted that Brand Networks raised 68 million dollars in a single funding round, while Shift raised $14 million.