RI-2018年Q2营销技术晴雨表（英文版）-2018.7-15页-2mb

MARTECH BAROMETER Q2 2018 MARKET REVIEW

Core Content

The MarTech Barometer Q2 2018 is a quarterly review by Results International, highlighting the activity and trends in the global marketing technology (MarTech) and advertising technology (AdTech) sectors. It includes data on M&A deals, fundraising, public company valuations, and sector-specific insights.

Main Highlights

• AdTech M&A Surge: The RI AdTech index experienced a record 42% increase, driven by major acquisitions such as AppNexus by AT&T for $1.6bn, which added another telco to the competitive landscape, challenging the dominance of Google, Facebook, and Amazon.

• Large Software Companies Expand MarTech and eCommerce Stacks:

  • Oracle acquired Grapeshot for $454m to enhance audience measurement and targeting capabilities.
  • Adobe acquired Magento for $1.7bn, increasing the appeal of independent eCommerce platforms like Shopify and BigCommerce.

• Rise in Demand for Implementation and Tech-Enabled Services: The increased M&A activity has led to higher demand for services that support integration and execution, such as e2y, which was acquired by Dimension Data. Results International acted as exclusive financial advisors to e2y in this deal.

• GDPR Impact: The regulatory uncertainty around GDPR caused some AdTech companies to exit the EU market. Verve shut down its European operations in April, and Drawbridge sold its EU AdTech division to Gimbal in May, effectively exiting the AdTech space.

Key Information

M&A Activity in Q2 2018

• AT&T acquired AppNexus for $1.6bn.
• Adobe acquired Magento for $1.7bn.
• Oracle acquired Grapeshot for $454m.
• Square acquired Weebly for $265m.
• Gimbal acquired Drawbridge's managed media unit.
• Gannett acquired WordStream for $130m.
• Namaste Technologies acquired Findify for $12m.
• 3T acquired ICE Powered by Inovideo for $150m.
• OGURY acquired adincube.
• appScatter acquired prioridata for $16m.
• CLX acquired vehicle for $8m.

Fundraising Activity in Q2 2018

• Signal raised $16m in Series B funding.
• Elasticpath raised $33m in Series B.
• KUST®MER raised $26m in Series B.
• Black Wood Seten raised $20m in Growth Equity.
• Real Eyes raised $16m in Series A.
• Cuebiq raised $27m in Series B.
• S4M raised $12m in Series B.
• Bouncyex raised $37m in Series B.
• POQ raised $13m in Series B.
• Amplience raised $37m in Series C.
• BigCommerce raised $64m.
• Überflip raised $32m in Series A.
• SEMFLUSH raised $40m.
• Plaid raised $25m in Venture funding.
• Drift raised $60m in Series C.
• Zaius raised $30m in Series B.
• Litmus raised $14m in Series B.

Public Company Valuation Benchmarks

• MarTech and AdTech sectors show varying valuation multiples based on revenue and EBITDA.
• The Trade Desk had the highest enterprise value at $4,257m with an EV/Revenue multiple of 9.1x.
• Shopify had an enterprise value of $14,979m with an EV/Revenue multiple of 14.7x.
• Yext had an enterprise value of $2,057m with an EV/Revenue multiple of 9.3x.
• SendGrid had an enterprise value of $1,288m with an EV/Revenue multiple of 9.1x.
• Cision had an enterprise value of $3,145m with an EV/Revenue multiple of 4.3x.

Public Company Performance Metrics

• The Trade Desk had a 27.4% CY2018 revenue growth and a 31.6x EV/EBITDA.
• Shopify showed strong growth with a 632.9% increase in its current valuation.
• SendGrid had a 75.9% increase in its share price since its IPO.
• Criteo had a 30.3% CY2018 revenue growth and a 22.5x EV/EBITDA.
• Geniee had a 7.5% CY2018 revenue growth and a 21.9x EV/EBITDA.
• iClick Interactive had a 23.6% CY2018 revenue growth and a 48.6x EV/EBITDA.
• Mirriad showed a significant 179.3% EBITDA growth, though its revenue growth was negative.

Sector-Specific Insights

• Performance Marketing: Companies like The Trade Desk and SendGrid are leading in this space with strong revenue and valuation growth.
• Programmatic: The sector saw significant M&A activity and continued growth in public company valuations.
• Analytics: Companies like Criteo and Geniee are showing strong performance in analytics and data-driven marketing.
• eCommerce Tech: The sector is attracting attention from major players like Adobe and Oracle, with Shopify being a notable independent platform.
• Hybrid Cloud: This subsector is gaining traction with the integration of cloud-based solutions into marketing and advertising technologies.

Outlook

The MarTech and AdTech sectors remain highly active, with a positive outlook for growth and investment. Companies are increasingly looking to expand through acquisitions, fundraising, or strategic partnerships, especially in the areas of performance marketing, programmatic, analytics, and eCommerce tech. The impact of GDPR is expected to become more evident in the coming quarters.

Contact Information

London

• Address: 27 Soho Square, London, W1D 3AY
• Phone: +44 20 7629 7575
• Email:
  • Julie Langley: jangley@resultsig.com
  • Chris Lewis: clewis@resultsig.com
  • Mark Williams: mwilliams@resultsig.com

New York

• Address: 80 Broad Street, Suite 3203, New York, NY 10004
• Phone: +1 646 747 6500
• Email:
  • Pierre-Georges Roy: pgroy@resultsig.com
  • Maurice Watkins: mwatkins@resultsig.com

Singapore

• Address: 3 Pickering Street, Nankin Row, 03-03, Singapore, 048660
• Phone: +65 6221 3575
• Email:
  • Andrew Kefford: akefford@resultsig.com
  • Chris Beaumont: cbeaumont@resultsig.com