Facebook and Google continue their consolidation of the online advertising market with a recent report indicating both companies account for market share ranging from 60 to 70% of ads inventory internationally depending on the country.
We were pleasantly surprised by the speed Agora is moving forward. A big benefit for us is that the leader of Agora Investment made a lot of investments to companies in APAC, EU, Africa, and other markets whilst working for US based Investment company. We also appreciate that they have a strong team of professionals in their new investment arm.
This announcement ranks among the largest Series A rounds in Central and Eastern Europe and will be primarily used to strengthen our commercial team, accelerate geographical expansion and to further build out our product. We see that marketers can really benefit from sharing product performance data between Facebook and Google and enhancing their creatives. Our mission is to make e-commerce marketing easier and more personal. We currently support Facebook and Google and aim to include more channels as part of our service in the near future. We also plan to expand our existing partnership base to include SaaS platforms focused on e-commerce, improve our data analytics capabilities and expand our existing product based on Facebook and Google’s advertising capabilities.
The investment will be used to drive geographical expansion, into new markets including the UK and Western Europe as well as strengthen our presence in Central and Eastern Europe, the Middle East and North Africa, Asia Pacific and Latin American regions.
Did you know? We also received the Facebook Marketing Partner Creative Badge!
We also plan to use the investment to fuel product development, the first result of which is our recent a accreditation of a Facebook Marketing Partner (FMP) Creative Badge. The FMP badge recognizes the quality of the visual and creative tools ROI Hunter offer its e-commerce focused businesses and is awarded in recognition of companies reaching Facebook's highest advertising standards.
To continue on our quest, we plan to gradually double our engineering team and hire an additional 30-40 new employees globally within the next 12 months. Join us on our mission!