Launchmetrics lands in China with acquisition of analytics firm Parklu
Launchmetrics has made another purchase. The Franco-American data analysis firm specializing in the fashion, luxury and beauty industries has announced its acquisition of Chinese influencer analysis platform Parklu for an undisclosed sum. The transaction is the second of this kind for the company, which, having closed a $50 million funding round in September 2018, purchased Italian image bank IMAXtree late last year.
The move, which aims to strengthen Launchmetrics strategic positioning and expand its analytics capacities, will allow the company to operate directly on the Chinese market, presenting international brands to more the more than 900 million consumers reached by Parklu. The Chinese platform will also give Launchmetrics access to "an extensive amount of China-focused analytics" and contribute the power of its network of 100,000 influencers, who develop their content through top Chinese social media platforms, such as WeChat, Douyin (TikTok), Weibo, RED and Bilibili. The transaction therefore represents a significant first step for Launchmetrics in a complex and increasingly important market, which is becoming tightly associated with global economic recovery.
"In today’s climate, brands are trying to understand how they can be more efficient and deliver better ROI. This acquisition will make us the only player to measure cross-voice performance by providing the industry with a consistent metric to more effectively understand performance in China and beyond," explained Launchmetrics CEO Michael Jais in a release.
Parklu founder and CEO Kim Leitzes further stated that together the companies will be able to "deliver even more value to our clients with a comprehensive offer" that will facilitate analysis and data-based decisions. "We share Launchmetrics' vision and believe industry-specific solutions will best enable FLB executives to capitalize on opportunities, both on-and offline, all while connecting their strategy, operational efforts, and results in a single, global solution," added the executive, who will remain with the company after the acquisition, serving as managing director of APAC, while also taking responsibility for the integration of Parklu.
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