Criteo Shells Out $28.8 Million To Acquire Real-Time Email Marketing Platform
- by Tyler Loechner @mp_tyler, February 20, 2014
Criteo on Thursday announced it has acquired Tedemis, a Paris-based personalized email marketing platform that relies on a user opt-in model.
The company acquired Tedemis for €21 million ($28.8 million), with €17 million ($23.3 million) paid in cash upfront. The remaining €4 million ($5.5 million) will be paid if certain milestone incentives are reached. Specific milestones were not disclosed.
Criteo made the move to keep up with marketers that are increasingly turning to multi-channel campaigns. Additionally, Eric Eichmann, Criteo’s chief operating officer, sees opportunity in “the increased consumption of email via mobile,” per a statement.
Email is an ideal retargeting vehicle, in fact Cart Abandonment emails are already a big business, they just aren't tracked in any way that can be reported in the press. Why look for bounders only in display?
This is a smart acquisition. Criteo and Rocketfuel are going to want to chase after not only cookies on websites but also logged in email users wherever they are. After all, email users are known openers, clickers and converters...at much higher rates than display users.
Dave