German mobile ad start-up Madvertise has completed the acquisition of Turkish competitor Mobilike. In line with their objective of being a market leader in Europe, the acquisition puts the consolidated page impressions count at just under 2 billion, of which about 15 percent comes from Mobilike. Madvertise has used some of the recent $10 mln funding that they closed recently, to purchase Mobilike.
Madvertise is a German start-up operating in the mobile advertising domain. The company offers geography-based advertising services that target specific demographics and offer some of the highest CPCs and CPMs in the marketplace, and offers stunning media platforms for their clients to utilize. Madvertise was founded by four entrepreneurs in 2008, and now has 90 employees spread out over eight cities in Europe. Early investors in the company include Blumberg Capital, Team Europe / Point Nine Capital and others.
Mobilike is Turkey’s leading mobile advertising solutions company; with a whopping 60 percent of the market share already captured in Turkey, the 2009-founded company operates with 13 employees based in Istanbul. The company was founded in 2009 by Şekip Can Gökalp and Volkan Biçer, and currently boasts 300 mln page impressions per month. The pioneering company was the first to provide video and other rich media advertising solutions for companies targeting mobile users in Turkey.