Chicago-based startup Tap.Me, whose technology platform lets brands advertise within mobile games, has been acquired by MediaMath, a New York advertising technology firm.
Financial terms of the transaction were not disclosed. Tap.Me was founded in 2010 and is a graduate of Chicago-based startup incubator program Excelerate Labs. Its venture capital investors include local groups I2A Fund, Hyde Park Angels and the FireStarter Fund.
MediaMath, which provides a digital media buying platform for brands and agencies, already has a small office in Chicago and said the Tap.Me acquisition will expand its presence in the Midwest. The New York firm also said it wanted to further develop its advertising offerings in mobile and video platforms, as well as bring in Tap.Me Chief Executive Matt Spiegel.
Spiegel, a former Omnicom Media Group executive, joined the startup as CEO in October 2011. The entire Tap.Me staff of about a dozen employees will be joining MediaMath, the New York company said. Spiegel will become senior vice president and general manager of Open, a digital advertising interoperability platform. He will also oversee the company's Midwestern operations.
"By adding (Tap.Me's) technology and brilliant engineering team, we're building a better platform that gives advertisers the ability to buy across all digital marketing channels from one single platform," MediaMath CEO Joe Zawadzki said in a statement.
Tap.Me founder Joshua Hernandez joined Chicago-based venture capital firm Lightbank as a founder-in-residence in June. His newest startup, Walk.by, is a mobile service that allows consumers to photograph a clothing item and request a version of it from local retailers. The company has about 80 Chicago merchants signed up so far.
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