Cardlytics to buy Dosh for $275Mn to enhance digital Ad solutions

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Cardlytics- a Georgia-based digital advertising platform has initiated plans to purchase Dosh- an advertising solution that provides cash-back rewards, for USD 275 million in a combined cash and stock deal. In the year 2020, Dosh helped leading financial institutions, neobanks, and FinTechs to integrate the Ad solution to their applications and websites as a wallet technology named ‘Powered by Dosh’. Notably, Cardlytics aims at integrating the advanced technology by Dosh with its technology to enable advertisers to engage with clients through participating with financial services firms that include Betterment and FinTechs Venmo. In a statement by Ryan Wuerch, Founder and CEO, Dosh, the demand for ‘Powered by Dosh’ along with the company’s strategy for partnerships with new financial service companies will expand its user base to more than 60 million. Wuerch added that within the in-store environment, merchants require customers to come back in an increased frequency however, on an online platform the clients are required to differentiate themselves so that the consumer is investing their money in the brand as compared to the others. Incorporated in the year 2016, Dosh offers customized offers to its application users from various merchants. On the other hand, with more than 163 million monthly active customers, Cardlytics has offered its customers approximately USD 500 million in cash-backward to date. The technology works well with advertisers in the retail, D2C, telecommunications, travel, and grocery domain. It must be noted that the coronavirus pandemic has supplemented the use of various new digital innovations for businesses like transaction-based advertising. According to a study carried out by Dosh, nearly 80% of the consumers claim that they would visit a new marketplace if alerted regarding cash-back offers. Seemingly, the partnership deal is expected to complete in the second quarter of 2021. Source Credit: https://www.pymnts.com/news/partnerships-acquisitions/2021/cardlytics-acquires-dosh-to-expand-digital-ads-platform/