Aki Technology has purchased video marketing firm Eyeview, which shut down its business in December as it ran out of cash. With this acquisition, Eyeview’s assets including Demand Side Platform and Bidder. The company denied revealing the amount of acquisition.
Aki CEO Scott Swanson sees a bright future in the personalized advertising market of Eyeview Video Advertising. He said that Eyeview stands out in the crowd, and provides services for creating a video in various ways and stores in the cloud. It offers a number of opportunities for ads to target the specific “mobile moment.” Mobile Moment is a time when users take out their phone and shop what he or she wants immediately.
The video marketing company Eyeview raised $80 million in funding and had a team of 100 employees when it shut down. The company had been growing in the market of advertising since the old digital media veteran Rob Diechert took over as CEO.
Rob Deichert CEO of Eyeview said, shutting down of the company was quite disappointing. However, it is happy that it is having a rebirth through Aki Technology as its business is logically fit for Eyeview Technology.
Moreover, this purchase will enable Aki to scale its mobile advertising to desktop and television. As the deal is only an asset purchase and not a complete acquisition, Aki will get only its technology and not the manpower, contracts or revenue it has.
Scott Swanson said he is also working to hire the Employees and get the clients of Eyeview. As the guys have been running a business for a while, with their happy customers who were getting good services and got disappointed when the company shut down.
Back in 2015, Aki raised $4 million seed round. The company has been profitable for the last 3 years. But it won’t get revenue in the first half of 2020. Aki expects to be back in the market with all the services and profits by the end of 2020.