Metamarkets, a US-based advertising technology developer backed by internet group Oath, has been acquired by messaging app developer Snap for less than $100m, TechCrunch reported on Friday.
Neither Metamarkets nor Snap has confirmed the deal, which was agreed on October 24 according to one of TechCrunch’s sources, and which may not have completely closed yet.
Founded in 2010, Metamarkets provides interactive advertising analytics tools for businesses to track the real-time, ad-hoc performance of their marketing campaigns. Its clients include Oath, social media company Twitter and cross-device advertising platform Drawbridge.
Metamarket has raised $43.5m in equity funding to date, on top of $14.3m in debt financing provided by Wellington Financial in October 2016.
AOL Ventures, the corporate venturing arm of internet company AOL, first took part in a $2.5m funding round for the company in 2010 that was led by IA Ventures and backed by Village Ventures, True Ventures, Founder Collective and various angel investors.
Metamarket then secured $15m in a 2012 series B round led by Khosla Ventures with contributions from AOL Ventures, IA Ventures and True Ventures.
AOL has since been acquired by telecommunications firm Verizon, which merged the business with another of its acquisitions, internet company Yahoo, to form a subsidiary called Oath. AOL Ventures appears to have been shuttered.