Skillz to acquire Aarki; Etsy buys Depop for $ 1.62 billion
In today’s ExchangeWire daily news summary: Skillz to Acquire Aarki; Etsy buys Depop for US $ 1.625 billion (£ 1.148 billion); and Accenture Interactive expands to SEA through the acquisition of Entropia.
Skillz will acquire Aarki
Mobile gaming and esports platform Skillz has announced that it has entered into a definitive agreement to purchase the Aarki demand side platform (DSP) for approximately US $ 150 million (£ 106 million) in cash. and social capital. According to statements announcing the merger, the combination of the two brings together Skillz’s comprehensive first-party data holdings with Aarki’s alleged reach of 465 million monthly users.
Last year, Skillz became the first mobile esports platform to go public through a reverse merger led by SPAC, after combining with Flying Eagle Acquisition Corp. and receiving $ 250 million in additional investment, for a total valuation of $ 3.5 billion (£ 2.5 billion).
Skillz CEO Andrew Paradise commented, “Aarki’s proven machine learning will combine with Skillz’s robust first-party data to create an unmatched value proposition for game developers. The integrated ecosystem will unlock new points of connectivity between consumers, developers and brands, matching the right impression with the right user at the right time, while delivering a superior user experience.
Etsy buys Depop for $ 1.625bn (£ 1.148bn)
Online marketplace operator Etsy Inc. has announced plans to purchase UK-based community fashion marketplace Depop, primarily used by consumers under the age of 26, for the mostly cash sum of $ 1.625 billion. US dollars (£ 1.148 billion). Under the terms outlined in the deal, Depop will continue to operate as a stand-alone marketplace instead of being integrated with the main Etsy store, while the acquired company has generated revenue of approximately US $ 70 million (49 million pounds sterling) in 2020, double that of the previous year. Additionally, Depop attracted a base of four million active buyers and two million active sellers, 75% of whom were also buyers, in 2020, with this cohort behavior cited as the primary driver of the acquisition.
In a statement, Rachel Glaser, Chief Financial Officer of Etsy Inc., said: “We have admired Depop for some time and are delighted that we have now reached an agreement to purchase this fantastic company – a company that we believe is still in its infancy. of its growth opportunity. We love Depop’s rapidly growing Gross Merchandise Sales (GMS) and loyal and engaged customer base, excellent user engagement and unity economics, the opportunities to expand services to value added sellers, the clear path for geographic expansion; and the highly scalable, “capital-light” operating model. We are delighted to be building a “house of brands” where the whole is greater than the sum of its parts. “
Accenture Interactive expands to SEA through acquisition of Entropia
Completing today’s trio of acquisitions in the digital media and marketing ecosystem, Accenture Interactive expanded to the South East Asia (SEA) region through the agency’s purchase Malaysian Entropia Digital Experience. Entropia, based in Kuala Lumpur, boasts of BMW; Nespresso; KFC; Tenaga Nasional Berhad; Telecom Malaysia; and Lazada, among its roster of past and present clients, and has had 210 employees since its launch in 2016. The acquisition continues Accenture’s expansion into the Asia-Pacific (APAC) market over the past five years , after acquiring Ho, based in Shanghai Communication in 2018, The Monkeys based in Sydney in 2017, and launching Droga5 in Japan after acquiring the New York-based design agency in 2019.
Divyesh Vithlani, Head of Southeast Asia Market Unit, Accenture, said: “As more consumers turn to online channels, the growth of the digital economy in Southeast Asia East has accelerated the massive disruption brands are experiencing. This acquisition will allow us to expand our digital capabilities to meet the growing demands of our customers.