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February 4, 2014 – Boston, Mass. (BUSINESS WIRE) – Nanigans, Inc. and Redstar Ventures, LLC announced today the acquisition of LoopIt, one of Redstar’s operating companies. LoopIt’s team and technologies will augment Nanigans’ continued expansion into e-commerce. LoopIt founder and President, Andrew Lau, will assume the role of Chief Strategy Officer.
“We’re incredibly pleased to be enhancing our social and mobile commerce capabilities with a world-class team that has been living and breathing e-commerce for many years,” said Ric Cavillo, CEO of Nanigans. “The impact of social and mobile channels in influencing purchasing decisions will continue to accelerate, and LoopIt adds key strategic weapons to our arsenal.”
“Nanigans is the perfect fit for LoopIt,” said Redstar Ventures President and Managing Director, Matt Beecher. “We are enthusiastic about the synergies between Nanigans and LoopIt in this merger, and are pleased to see such a successful early exit for one of our first operating companies.”
Nanigans offers the only SaaS platform that optimizes to predictive lifetime value. Our technology empowers over 250 performance marketers to find, acquire and retarget their most profitable customers at scale across social and mobile. With over $350 million running through our platform annualized, Nanigans provides in-house marketers a significant cost savings due a publisher-direct relationship model. Backed by Avalon Ventures with over 140 employees, Nanigans has offices in Boston, New York, San Francisco, London Sydney and Singapore.
Redstar is a company that creates companies through a top-down process that identifies significant trends and growing markets, and develops potential products and services for those markets. We co-found companies with experienced entrepreneurs, provide funding, and work intimately with our founders to build and grow our businesses.