AppsFlyer acquires oolo, developer of AI-powered user acquisition and monetization platform
AppsFlyer acquires oolo, developer of AI-powered user acquisition and monetization platform
The Israeli unicorn, which has reached $400 million in ARR, is purchasing the Israeli startup in an all-stock deal valued at an estimated several tens of millions of dollars
Unicorn AppsFlyer, which provides marketing measurement, attribution, and data analytics, announced on Tuesday the acquisition of oolo, an Israeli startup that has developed an AI-powered user acquisition and monetization decision-making platform.
The value of the deal was not revealed, but Calcalist has learned that it is an all-stock deal worth several tens of millions of dollars. Calcalist has learned that this year, AppsFlyer, which employs about 1,500 people, will reach annual recurring revenue (ARR) of around $400 million, with positive cash flow throughout the last year.
Oolo was founded by Yuval Brener and Roey Yaniv, who previously founded interactive video company Carambola Media, together with Roei Bareket. All of the employees of the acquired company will be integrated into AppsFlyer, which is purchasing its second company within two months following its recent acquisition of devtodev, a full-cycle data analytics solution for game and app developers.
The acquisition strengthens AppsFlyer's portfolio of products and services, and will see oolo operate as “oolo by AppsFlyer.”
Oolo and devtodev will be among the first applications within AppsFlyer’s recently launched Privacy Cloud Marketplace.
Oren Kaniel, CEO and co-founder of AppsFlyer, told Calcalist that the decision to purchase oolo was surprisingly easy. "On the human and cultural side, we saw a great match between our shared values. Also, on the product side, there was a precise synergy with AppsFlyer's strategy. The amount of data that developers need to analyze, and its complexity, is constantly increasing, and the need for AI to understand that data is critical. On the other hand, privacy protection requirements are increasing, which makes it difficult for companies to understand their users and make decisions, and this is what we want to solve."
Kaniel explained that the Privacy Cloud Marketplace that the company launched earlier this year will allow customers to use oolo or AI technology from a third party without the need to copy and duplicate the data.
“The war did slow us down a little but strengthened us a lot. The war will end, and the question is what will happen here after it. We have no doubt that the existence of successful international technology companies like AppsFlyer is a necessary condition for a good economy and also for security,” Kaniel added. “That's why the members of the AppsFlyer team see their work as a kind of mission, even beyond our extensive social activities. We delivered no matter what. Therefore, especially these days, it is important for us to show our customers, partners, international investors, and the whole world that nothing will move us from our goal. This is the essence of entrepreneurship and Israeliness in my eyes.”
The acquisition of oolo by AppsFlyer comes as part of the company's desire to strengthen brands within the decision-making process in the developing digital ecosystem. As marketing, growth, and monetization teams today expand their responsibility for the acquisition and engagement of customers, their need to make many informed decisions in real time increases significantly. In order to meet this need, oolo's artificial intelligence capabilities support the improvement of growth strategy, monetization, and customer retention.
oolo delivers a constantly updated alert system that detects anomalies, identifies immediate growth opportunities, and prevents and corrects inefficiencies that help solve the daily optimization challenges growth marketers face.
“This acquisition is set to blaze a trail in the data analytics space as we join forces with AppsFlyer to provide state-of-the-art data monitoring technologies for brands around the world,” said Yuval Brener, CEO of oolo. “With AppsFlyer’s proven track-record, large client base, and privacy-preserving architecture, our customers will benefit from an integrated approach to growth decision-making unlike anything seen before.”
