Dive Brief:
- Brand technology company You & Mr Jones acquired a majority stake in influencer marketing firm theAmplify, according to the Wall Street Journal.
- You & Mr Jones has been actively investing in tech firms, and the deal with theAmplify is its first in the influencer marketing space.
- TheAmplify’s influencer network reaches more than 500 million daily.
Dive Insight:
“We passionately believe in the whole space of people-powered marketing,” David Jones, founder of You & Mr Jones, told the Journal. “In talking to brands about the type of company they want us to build for them, influencer marketing was clearly a very important area.”
With the deal, You & Mr Jones gets access to theAmplify’s SharedRank algorithm that matches brands with relevant influencers on Snapchat, Instagram and other social platforms. Marketers are provided real-time data on influencer campaigns including data on brand conversations, emoji and emotion analysis from comments on the sponsored posts, and engagement metrics.
Influencer marketing has surged in popularity among brand marketers looking to expand their social footprints among niche audiences. And it's a category that is only growing in importance.
TheAmplify CEO Justin Rezvani told the Journal, “We are relentlessly dedicated to streamlining the process and making it better and more efficient for a brand to execute influencer marketing.”
The investment from You & Mr Jones will in part help theAmplify expand globally. Terms of the deal were not released.