Chicago’s Brad Flora Sells Perfect Audience for $23 Million

June 5, 2014

9:05 am

On Monday, an acquisition was closed for the San Francisco-based Perfect Audience, which specializes in display and social ad retargeting across social networks like Facebook and Twitter. Under the terms of the agreement, Marin Software paid $22.8 million for the company, with about $5.4 million in cash and the rest in common stock.

With this acquisition, Marin can expand its cross-channel services and tools. The company offers a platform for companies to run ad campaigns across multiple channels, but focuses mainly on the search market. Now, the integration of Perfect Audience’s platform will combine the search intent data with behavioral and other data to help drive audience buying and retargeting across social networks like Facebook and Twitter, as well as mobile and several other display ad placements.

Founded in 2012 by CEO Brad Flora, Perfect Audience evolved from the Chicago entrepreneur’s NowSpots, which initially only created rich-media ads. A pivot into actually helping deliver those ads rather than merely creating led the company to relocate its headquarters from Chicago to San Franciso and start Perfect Audience.

The deal adds clients such as American Apparel, bebe, New Relic, 99 designs, and Rackspace to Marin’s portfolio. As part of the acquisition, Flora will join Marin Software, and $2.7 million of equity retention grants will be given to Perfect Audience employees who decide to stay on.

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Ronald Barba was the previous managing editor of Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things. Aside from writing about startups and entrepreneurship, Ronald is interested in 'Doctor Who', Murakami, 'The Mindy Project', and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a "writer". Tweet @RonaldPBarba.

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