He later acquires social influencer app Mavely for $250M

Later oninfluencer marketing and social media management software company, acquires social influencer app Relief for $250 million.

That is very much the case in the relatively new social commerce industry. This acquisition accelerates Later's ability to deliver full-funnel impact and measurable return-on-investment (ROI) to marketers while enabling creators to maximize their earnings through social commerce.

Later he is a leader in campaign influencer marketing and social media management software and services trusted by brands like YouTube, ESPN, Kylie Cosmetics and more.

And Mavely is an app for the everyday influencer who wants to earn income through commissions on the sales they drive for brands and retailers. In the first half of 2024, Mavely paid more than $16 million in commissions, campaign fees and other earnings to more than 85,000 creators.

“Bringing Mavely under the Later umbrella is a huge step in redefining how marketers and creators work together,” said Scott Sutton, CEO of Later, in an email to GamesBeat . “Mavely brings incredible technology, experience, and shared vision. By combining our strengths, we are increasing the value we bring to marketers and empowering creators to build sustainable, revenue-generating businesses. This move allows us to deliver a fully immersive experience for marketers – offering return-on-target (ROAS)-based campaigns and driving predictable outcomes. With this acquisition, we can create new and better opportunities for our clients, employees and the entire creative ecosystem.”

The company said that further integration with Mavely drives bottom-funnel outcomes (purchases and revenue) for brands and retailers—which in conjunction with brand awareness-and-impact campaigns later participation enables later customers to drive​​​​​​ and full-funnel verification. victory.

“We've always believed in the power of creators to drive authentic communication and real business results, at scale,” said Evan Wray, CEO of Mavely, in an email to GamesBeat. “Joining Later allows us to take this to the next level, creating a more comprehensive platform that delivers value to creators and marketers.” Together, we're building a future where creators are at the heart of the marketing ecosystem, and brands have the tools they need to connect with their audiences in ways measurable.”

It also adds two new social commerce revenue streams today and several future revenue opportunities. Later he will immediately benefit from the income and growth of Mavely's adoption rate on GMV led by creators. With a growing creator base and growing creator-driven revenue, it introduces the new flywheel effect of Creator-Driven Growth; this is in addition to Product-led Growth later and GTM's sales-led growth trends today.

Additionally, Mavely's ROAS-based campaigns allow brands and retailers to drive three to five times return on ad spend from Affiliate, Influencer, Shopper Commerce, and Paid Media budgets.

Future opportunities include monetizing paid media to increase social posts featuring Mavely links and retail media, where retailers can bid on digital properties where customers Mavely creative decides which products should be promoted and to which retailer's destination are the connection points.

The acquisition of Mavely consolidates the core technology and IP that powers Later's current connected integration and ensures Later's ability to continue to deliver connected capabilities.

Later he has about 300 employees, and he adds about 75 from Mavely, for a total of 375. It was later founded in 2014 in Vancouver, Canada, as Latergramme, one of the first social media timeline tech companies, and was eventually renamed. It was acquired in 2022 by the influencer marketing platform Mavrck, which itself changed its name in 2024 to Later.

Mavely was founded in 2019 and is based in Chicago. Prior to the acquisition, Mavely was owned by Rhyz Inc, a subsidiary of Nu Skin Enterprises. Before that, it had raised $1 million in a seed round.

Later has raised more than $ 276 million to date and is supported by private equity. He later funded Mavely's acquisition with a strategic investment from investment firm Summit Partners.