"Adtech company Vibe is trying to grab a slice of the growing streaming TV advertising pie by targeting brands that have never advertised on TV before. Vibe focuses on "performance marketers" who tend to buy ads on Instagram - think direct-to-consumer beauty brands or gaming apps. For those advertisers, advertising on TV can feel overwhelming and expensive, compared to spinning up a social media campaign in a few clicks."
"Founded four years ago, its self-service TV ad buying platform has been growing quickly. The company says it's worked with more than 5,000 advertisers - from large companies, to app developers, and small businesses - to create and place ads across streaming TV platforms like Disney+ and Roku. Vibe said it surpassed a $100 million revenue run rate this year. A run rate predicts how much revenue the company will generate in the next year if it continues at its current pace of performance."
"On Tuesday, Vibe announced a $50 million Series B investment round, led by the venture capital firm Hedosophia.Existing investors, including Elaia and Singular, also participated. The round values Vibe at $410 million, the company said. Vibe operates in a crowded space: Advertisers are forecast to spend $36.87 billion on connected-TV ads next year, per the research firm EMARKETER, a Business Insider sister company."
Vibe offers a self-service platform to simplify buying ads on streaming TV for performance marketers and brands that have not traditionally advertised on TV. The platform has worked with more than 5,000 advertisers, including large companies, app developers, and small businesses, placing ads on streaming platforms like Disney+ and Roku. Vibe reported surpassing a $100 million revenue run rate this year. The company raised a $50 million Series B led by Hedosophia, with existing investors participating, valuing Vibe at $410 million amid a crowded connected-TV ad market.
Read at Business Insider
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