General News of Friday, 12 January 2018
Source: Sylvana Lewin
MEST Incubator Accra portfolio company Kudobuzz, a marketing and review software, announced acquisition of MEST portfolio company AdGeek, an ad creation tool used by many online merchants for prospecting new customers and ad retargeting, an effort to strengthen their e-commerce marketing product suite. Both graduates of the MEST training program, AdGeek and Kudobuzz have worked together in the past.
The AdGeek founding team will be joining Kudobuzz following the acquisition.
AdGeek’s co-founder Ben Kissi said, “We are excited about the next phase of our journey with Kudobuzz, and we believe that together we will achieve great things.”
Over the past six years, Kudobuzz has gained extensive experience in the e-commerce space.
Kudobuzz advertising and marketing software collects reviews from social media and displays them on a brand’s website, helping to increase conversions, as well as improve SEO.
Since founding AdGeek in 2016, the team has been working hard to help merchants boost sales by building a world-class marketing application. Both AdGeek and Kudobuzz share an overarching goal of helping merchants succeed through driving sales. It’s this synergy that has driven the acquisition.
Noting the fit, Kudobuzz co-founder and CEO Kena Amoah said, “AdGeek’s position and vision is in line with that of Kudobuzz.”
The relationship between AdGeek and Kudobuzz began when Amoah joined the AdGeek team as an advisor to help shape marketing and product ideas, a relationship facilitated through the MEST Incubator. During this period, he embraced the AdGeek founders’ vision for their product and decided to help in its full realization.
Kudobuzz has received many requests from customers to allow them to easily run ads with the reviews collected by the company. Thus this acquisition comes at the perfect time. AdGeek will become one of the tools in the Kudobuzz portfolio of apps.
Kudobuzz is strengthening its self-imposed mandate of helping merchants make more money by revamping the apps already in its portfolio and bringing new ones in. Their vision going forward is to be on the minds of online merchants whenever they think about growing sales.