Seattle’s Marchex Acquires Boston-Area Startup Jingle Networks for $62.5M, Adding Heft to Phone Call Advertising
Marchex (NASDAQ: MCHX) says the combination will allow its advertising network to reach more than 500 million phone calls annually. Jingle Networks provides advertising to mobile carriers and network operators, with ads featured both in phone calls and through mobile apps. Marchex also singled out Jingle’s voice search operation as a key part of the acquisition.
“While the ‘click’ was the monetization event in the desktop world, we believe that in today’s mobile world the monetization event best suited to connecting advertisers to customers is the call,” Marchex chief operating officer Pete Christothoulou said in a statement.
Marchex also said it expects Jingle Networks to generate more than $22 million in net revenue this year. No layoffs are expected as part of the acquisition, the company said. “The 30 Jingle employees will be basically just joining Marchex,” spokesman Jim Cullinan says.
Jingle’s investors include Liberty Associated Partners, Flybridge Capital Partners, Goldman Sachs, First Round Capital, and Comcast Interactive Capital. The company was founded in the Boston area in 2005, moved to Silicon Valley for a few years, and then moved back to Boston in 2008.