Minute Media, an Israeli content technology company, has acquired Wazimo, an Israeli startup that helps content based businesses grow their audiences. The deal is reportedly for somewhere from $60 to $70 million. Wazimo is described as a “bootstrapped” startup which means that it was founded very very little capital.
Minute Media certainly has plenty of money for the purchase. To date, Minute Media has raised over $200 million in funding from investors, including Battery Ventures, Goldman Sachs, Dawn Capital and Wynn Resorts. Since December 2018, the brand has seen about a 400% increase in average monthly video views across its platform and grown revenue aproximately 100% annually since 2015.
Minute Media is reportedly looking to soon go public.
Founded in 2015 by CEO Oded Rosenboim, a former senior executive at ironSource, CTO Adi Daniel, and Eldad Shaltiel, Wazimo is a technology and content company that specializes in “engaging, growing and monetizing audiences at scale through an automated data-driven approach.”
Founded in Israel in 2011, Minute Media’s portfolio now consists of 6 global sports and entertainment brands, including Players’ Tribune and The Big Lead, all of which are powered by Minute Media’s proprietary publishing platform. This technology is also leveraged by third party publishers, powering their digital content destinations while servicing their business and operational needs.
“The engine behind Minute Media’s growth is our technology platform Voltax and we are continuously looking to enhance and strengthen the Voltax offering for our content businesses and those of our partners. Wazimo brings an exceptional team with expertise in growing audiences and revenue at scale through a data-driven approach. We are thrilled to bring their technology into the Voltax platform to help our own brands and clients grow their content business,” said Asaf Peled, CEO and Founder of Minute Media.
Today we announced our first technology-focused acquisition, Wazimo. This strategic addition will enhance our @VoltaxPlatform to better solve some of today’s largest publishing challenges, allowing digital publishers & content creators to build, segment & grow audiences at scale. pic.twitter.com/gt8HOYJQ7d
— Minute Media (@MinuteMediaLTD) November 10, 2021
“We are thrilled to join the Minute Media team, and are confident that the strategic alignment of our technologies, and increased resources, will drive exponential growth for our partners. We will continue to invest in technology and first-party data solutions to ensure we and our partners are well-prepared for the cookieless world and the ever-changing content industry,” said Oded Rosenboim, Co-Founder and CEO of Wazimo.