News Summary
Later has made headlines by acquiring Mavely for $250 million, enhancing its influencer marketing capabilities significantly. Mavely’s network of 120,000 creators and sales-tracking tools aligns perfectly with Later’s goal to provide data-driven insights for effective campaign performance. This merger reflects a larger trend in the influencer marketing sector and positions Later to better serve its clients.
Later Expands Horizons with $250 Million Acquisition of Mavely
Exciting news in the world of influencer marketing! Later, a company that’s been making waves by helping brands manage their social media and influencer campaigns, has just announced they are acquiring Mavely in a cash and equity deal worth a whopping $250 million. Backed by private equity firm Summit Partners, this move is set to crank up Later’s capabilities significantly, especially in tracking how well influencer campaigns are performing.
Who is Mavely?
Mavely has a fantastic network of 120,000 creators who collaborate with over 1,400 brands and retailers, including big-name companies like Nike and Macy’s. What makes Mavely stand out is its robust sales-tracking tools, which help brands pinpoint how much revenue is being generated by influencer campaigns. This capability played a pivotal role in Later’s decision to bring Mavely onboard.
Marketers Want More Data
The CEO of Later, Scott Sutton, has shared that marketers today are becoming more discerning. They want to focus on “bottom-of-funnel outcomes” and demonstrate the return on investment (ROI) for their campaigns. In the past, Later has mostly looked at broader metrics like brand awareness, but the acquisition of Mavely means they’ll now have access to performance data that they didn’t have before.
The Background Story
Mavely was acquired in 2021 by Nu Skin Enterprises, a firm known for beauty and wellness products. This acquisition by Later reflects a larger trend we’re seeing in the influencer marketing sector, where companies are merging to provide more comprehensive services—from bringing in talent to measuring campaign performance. This growth is evident from other recent acquisitions, such as Publicis Groupe purchasing the influencer marketing firm Influential for a notable $500 million.
Trends in Influencer Marketing
As brands become savvier, they’re tending to mix performance ad budgets with influencer marketing campaigns. Sutton remarked that while celebrity endorsements can capture a lot of attention, it’s often the micro-influencers who deliver greater value due to their highly engaged and targeted audiences. Later has executed over three million influencer campaigns, leveraging their own proprietary AI for effective performance modeling.
Enhancing Predictive Analytics
The key goal behind acquiring Mavely is to improve Later’s predictive analytics capabilities using the valuable sales data that Mavely offers. In the fast-paced world of advertising, first-party data is becoming increasingly essential. More businesses are recognizing its significance, especially for tailoring their campaigns to get the most bang for their buck.
What’s Next for Later?
As Later moves forward with this acquisition, they will be able to provide better insights and a more robust infrastructure for influencers and brands alike, making it easier to forge connections that are beneficial to everyone involved. Sutton emphasizes the importance of balancing collaborations with creators across numerous size categories to create impactful marketing strategies.
In summary, Later’s acquisition of Mavely is a remarkable step not just for these two companies but for the influencer marketing landscape as a whole. As brands embrace more sophisticated tactics and request hard data to prove their worth, Later is well-positioned to lead the charge into a future where influencer marketing is deeply integrated with measurable business outcomes.
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Additional Resources
- Adweek: Later Acquires Mavely for $250 Million
- Wikipedia: Influencer Marketing
- Axios: Later Announces Acquisition of Mavely
- Google Search: Influencer Marketing Trends
- Encyclopedia Britannica: Influencer Marketing
- Forbes: How Later is Responding to Sales Tracking Needs
