JEGI Represents mSnap in Sale to SmartReply
New York, NY March 23, 2009 – mSnap (www.msnap.com), the largest SMS mobile advertising network in the U.S., has been sold to SmartReply (www.smartreply.com), North America’s leader in mobile marketing for top retail brands. SmartReply now controls the most powerful SMS advertising platform for brand retailers and marketers today, unmatched in reach and scalability.
The Jordan, Edmiston Group, Inc. (www.jegi.com), the leading provider of independent investment banking services for media, information, marketing services and related technologies, represented mSnap in this transaction and acted as its exclusive financial advisor.
Founded in 2006, mSnap has created the largest SMS ad network, with over 1,150 radio, print, and cable broadcast media partners, and the ability of reaching over 200 million mobile users per week. SmartReply has focused on delivering mobile and voice messaging solutions for loyalty, credit, and promotional marketing since it was founded in 2001. Its clients include over half of the top 100 retail brands in the U.S. and Canada.
“We are now able to bring to advertisers an immediately scalable mobile advertising network with the best technical platform, reinforced by industry expertise and an incredible team. We’re delivering solutions that are engaging, while empowering consumers to obtain the most relevant information directly onto their mobile phones,” said Eric Holmen, President, SmartReply. “We believe it’s our mission to make the mobile phone valuable for both consumers and advertisers.”
The most powerful aspect of this combination SmartReply’s technology and mSnap’s expansive network’s is the ability to launch a mobile advertising program that delivers immediacy and responsiveness, and reaches millions. Until now, no company has been able to deliver on this scale.
In 2008 alone, mSnap’s network traffic grew over 1,500%, and with the combined resources of SmartReply, is expected to significantly increase even faster.
SmartReply’s acquisition of mSnap brings quantifiable media to a new level of scale. Media buyers can now track the results of their traditional media spends with the pinpoint accuracy of mobile marketing. “SmartReply’s impressive roster of forward thinking advertisers, paired with mSnap’s considerable network, is a very exciting combination. Our media partners will reap the benefits of having a more interactive and engaging relationship with their audience, while creating a new source of ad revenue. It’s a great formula for success,” said Tim Favia, CEO, mSnap.
At a time when the dominating media channels are becoming fragmented, SmartReply’s acquisition signifies the growing maturity of the mobile space. By making mobile the most valued communication tool for enabling conversations between advertisers, broadcasters, and consumers, the company has effectively written the next chapter in mobile marketing’s playbook, transforming the way in which brand marketers and retailers connect “interactively, and via mobile” with consumers everywhere.
According to Scott Peters, Managing Director, The Jordan, Edmiston Group, Inc., who represented mSnap in this transaction, “this deal illustrates the coming of age for mobile marketing. We believe this acquisition is indicative that mobile has reached scalability metrics important to the leading advertisers in America.”
SmartReply, headquartered in Irvine, CA, is North America’s largest provider of mobile marketing services for top retail brands, and now controls the largest SMS mobile advertising network in the U.S., with over 1,150 radio, print, and cable television station partners, and the ability of reaching 200+ million mobile users per week. Founded in 2001, SmartReply delivers mobile solutions with immediacy and responsiveness, while empowering consumers to obtain the most relevant information onto their mobile phones. SmartReply clients and partners benefit from having interactive relationships with their audiences, to create more engaging end-user experiences, increase revenues, lower overall marketing costs and strengthen brand affinity. For more information, visit www.smartreply.com.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is the leading provider of independent investment banking services for media, information, marketing services and related technologies. Since being founded in 1987, JEGI has completed nearly 500 high-profile M&A transactions for global and emerging companies; entrepreneurial owners; and private equity and venture capital funds. JEGI has established an impeccable reputation in the marketplace, which reflects its superior performance on behalf of its clients. The firm’s executive team of investment bankers has over 200 years of combined experience across the media, information, marketing services and related technology sectors that JEGI serves. For more information, visit www.jegi.com.