May bolster ad targeting on micro-blogging site.
Twitter has purchased AdGrok for an undisclosed sum, the keyword bidding platform revealed on its blog today. While Twitter hasn't commented extensively on the acquisition, the deal appears to be a technology-and-talent buy that could ultimately help marketers better target Promoted Tweets, Promoted Accounts, and Promoted Trends advertising.
In a brief email exchange with ClickZ News, Twitter spokesperson Matt Graves confirmed that AdGrok founders Argyris Zymnis and Matthew McEachen will join the company at its San Francisco headquarters. They will work "as part of our revenue engineering team," Graves said.
AdGrok is shutting down all operations by June 30. After that time, the San Francisco-based startup said business users' data can continue to be accessed through Google AdWords and Google Analytics.
TechCrunch first reported yesterday that the deal was in the works, citing a source that said Twitter would pay less than $10 million. It's Twitter's second notable acquisition in the last week, following the purchase of TweetDeck. Twitter paid $40 million for TweetDeck, a 15-person shop based in London, according to the Financial Times.
Meanwhile, TechCrunch is reporting that AdGrok CEO Antonio Garcia-Martinez has accepted a position at Facebook.
Christopher Heine was a senior writer for ClickZ through June 2012. He covered social media, sports/entertainment marketing, retail, and more. Heine's work has also appeared via Mashable, Brandweek, DM News, MarketingSherpa, and other tech- and ad-centric publications. USA Today, Bloomberg Radio, and The Los Angeles Times have cited him as an expert journalist.
2015 Holiday Email Guide
The holidays are just around the corner. Download this whitepaper to find out how to create successful holiday email campaigns that drive engagement and revenue.
Three Ways to Make Your Big Data More Valuable
Big data holds a lot of promise for marketers, but are marketers ready to make the most of it to drive better business decisions and improve ROI? This study looks at the hidden challenges modern marketers face when trying to put big data to use.
December 2, 2015
1pm ET/ 10am PT
Wednesday, December 9, 2015
5pm HKT / 5am ET