Published via L: 2014-05-06 23:48:54
A day before its quarterly results, AOL, owner of TechCrunch, has announced another acquisition to beef up its ad tech operations. It is buying Convertro, a marketing optimization platform, for $101 million – $89 million in cash, $2 million in converted stock awards and a $10 million earn-out over 17 months.
My Two Cents
A Great Exit for Convertro and Jeff Zwelling! Well done. Also another bit of good news for the LA / Santa Monica startup ecosystem. $101 mm exit makes some money for the Northern CA investors and definitely makes some money for the Convertro team.
