Kenneth Rona, Ph.D.’s Post

Agency Growth is Hard. The grind of growing client by client, brick by brick, and project by project can be soul-crushing. We have a better way. ACQUISITIONS is the ultimate growth leverage tool for agency founders looking to scale (AT SPEED). In February, in Nashville, we are sharing our playbook on how any agency can double its revenue and client base through acquisitions. Our playbook is based on a programmatic methodology we developed to simplify deal execution and has been fine-tuned through 15+ acquisitions and exits. Scale at Speed LIVE will teach you how SCALE your digital agency, BUY other agencies, and, SELL your agency for the maximum possible value. We are especially excited for Tuesday’s Agency AI Day, where one of our favorite marketers and serial entrepreneurs, Perry Belcher, will share his behind-the-scenes look at how he used AI to run and scale his Philippine agency over the past three years to reduce cost by 80% while drastically increasing quality. Register now: https://lnkd.in/g8rnju_s

AdTech M&A in 2024 Nice article from Catherine Perloff on the M&A trends within AdTech. Three things to think about: 1. Increased activity, adjusted valuations: Transaction volume nearly doubled, yet prices reflect current market realities. 2. Strategic portfolio optimisation: Firms pursue targeted acquisitions whilst divesting non-core assets swiftly. 3. Shifting buyer landscape: Fewer private equity and tech giant purchasers; AdTech firms lead consolidation efforts. Link to article: https://lnkd.in/enQ9KGAy **** Enjoy this and work in Advertising? Follow Rishan Chopra for more.

What's the HM DL? Our Communications and Content Specialist, Ariana V. has the insight – The DL: Investors are showing renewed interest in early-stage ad tech investments, with expectations of significant mergers and acquisitions in late 2024. Notable funding includes Vibe.co securing $22.5 million in a Series A round, positioning itself as the "Google Ads of streaming" for SME marketers. TVScientific and Michael Rubenstein's AI venture Firsthand also secured funding rounds. First Party Capital invested in Bedrock, focusing on navigating challenges posed by the loss of traditional ad tech tools like third-party cookies. Industry experts anticipate increased M&A activity in the second half of 2024, with private equity firms actively participating. The ad tech landscape is seen as ripe for opportunities, especially in the connected TV (CTV) sector, where companies like Vibe aim to make a significant impact. Sign up for our HM DL weekly newsletter by visiting our website at https://bit.ly/3ucphKB. #adtech #investing #mergersandacquisitions

After a comparatively quiet two years, investors appear to have regained their appetite for #adtech in terms of early-stage investments, as sources also predict grander-scale mergers and #acquisitions in late 2024. It would be premature to say a fresh wave is on the horizon. Still, recent activity is a stark contrast to the conservatism of investors in 2023, with speculation centering upon the #AI and #CTV sectors. In this piece by Ronan Shields, we speak to Arthur ✌️ Querou of Vibe.co, Rich Ashton of FirstPartyCapital, Pauline Roux of Elaia, William Ritchie of WY Partners, and Stephen Master of GTCR LLC.

The resurgence of investor interest in ad tech signals a potential transformation in the industry, with early-stage investments gaining traction and expectations of significant mergers and acquisitions in late 2024. The surge in interest is driven by the necessity for innovation, spurred by changing consumer trends and regulatory shifts, especially within the AI and CTV sectors. Ad tech requires investment to enhance its capabilities and address challenges by market dynamics. The recent $22.5 million funding round for Vibe and the seed investment in Bedrock highlight the industry's focus on innovation amid the impending disruption of traditional ad tech tools. Anticipation of increased M&A activity suggests potential consolidation and strategic partnerships driven by private equity firms. This renewed investment interest could lead to advancements in advertising technology, fostering innovation and competition. As companies seek to address evolving consumer preferences and regulatory changes, these developments are crucial for driving market growth and enhancing industry competitiveness. #AdTech #Investments #Innovation #MarketGrowth #Competitiveness

It’s official: PAN has acquired BLASTmedia! They are now known as PANBlast, a division of PAN (formerly, BLASTmedia) 🚀!    If you’re reading this, you’re probably thinking to yourself: Why now? Why BLASTmedia? What is PAN hoping to achieve? And does this change anything about PAN’s offerings?    Those are all great questions. Let’s get into them ⬇️    Why did PAN acquire BLASTmedia?    (Here’s the Cliffs Notes answer to that 👇 if you’re in a hurry)    📕 Because we can more easily support the full lifecycle of a brand (from emerging growth to late stage), we gain B2B SaaS expertise, and our two firms are in full alignment culturally. 📕    For the longer explanation of those three reasons, keep reading 🤓    1️⃣ PAN has a long history of working with mid to late-stage brands. That will not change. What this acquisition does is give us the opportunity to also focus on emerging growth – through PANBlast. Today’s market is filled with early-stage companies that are ready to make a splash, and we want to help them do it. With PANBlast (looking at you Lindsey!) and the synergies between it and our core business, we can now comprehensively support the full lifecycle of a brand, from emerging growth to late stage. That’s huge and a win-win for all.    2️⃣ The folks from BLASTmedia understand PR for B2B SaaS like nobody else. It’s been their bread and butter for almost 20 years. Now, the BLAST team will give PAN even more ways to engage with innovative #SaaS companies.    3️⃣ We’ve noted this with previous acquisitions, but it bears repeating: shared values are crucial. In this case, the values between our two companies weren’t a Venn diagram; they were a circle. The BLASTmedia team is filled with bright, inquisitive people who know their industries and align with us on the intangibles of running an agency: compassion, inclusion, and ambition (to name a few). It’s been amazing working with Lindsey (Peck) Groepper, Mendy Werne and j. kelly hendricks. Now to cover a couple additional questions!    >> Does this change anything about PAN’s offerings? <<    No - It deepens our focus as we combined forces – PAN and PANBlast – to ensure we can support the full growth journey of your brand.    >> Why now? << We’ve seen a rise in emerging growth market opportunities, and we plan to catch them. That’s what PANBlast enables us to do across some incredibly competitive markets (#AI, #Cyber, #Fintech, #ClimateTech, etc.).    If you couldn’t tell, I’m motivated and enthusiastic about what this move represents for PAN – and I can’t wait to see all the great ideas and initiatives that will come out of it.    Huge shout to Alyssa Tyson Brys Scotland, Connor Ermir Bradshaw, Katie Weedman, Nik Barkley, Rebecca Fox and Victoria Famiglietti - #TeamWork! 🌟    I’m here if you want to chat, whether that’s about this acquisition, PAN’s offerings or the C's championship run!    #WeMoveMarkets #AgencyExcellence    IN COMMENTS: Check out PANBlast 🚀

“Knowing Something” M&A in a Minute ⏰— If You Build It, They Will Come ⚾️ It was true in the Field of Dreams world of Kevin Costner’s Ray Kinsella, but how true is it in the M&A world? There are lots of axioms and “rules of thumb” that you come across doing deals—things like “time kills deals” and “buyers want to buy the past while sellers want to sell the future.” Like any good axiom, there’s often a lot of Truth (with a capital T) packed in just a few words. But, on the flip side, there are times when those axioms are anything but true—the trick is to know the difference. I was thinking about the axiom “great companies are bought and not sold” this morning. This idea yields the most force as applied to the few “unicorns” in the tech world who generate so much buzz you would think they’re TikTok influencers! But for the vast majority of would-be sellers (including those with great tech and strong cash flow), it’s a dangerous lens to view the world through and it can dampen exit value. 🎙️ Olga V. Mack and I are going to be talking about tech exits tomorrow on my LinkedIn Live show (link 🔗in the comments) and so I’ve been thinking about exits and what makes them work and what makes them crash and burn. The idea that companies are bought and not sold suggests a certain passivity in the sale of a business that just doesn’t (or shouldn’t) exist. Waiting for the phone to ring isn’t a viable strategy. As even causal readers of my posts will know, I encourage proactivity in almost all aspects of M&A—not reactivity. When you’re thinking about selling a business, you benefit from taking control of the process from the beginning and driving it forward with a sound plan and steady execution. Part of that involves bringing in the right team to help but a lot of it involves getting the details right, looking at the business from the buyer’s perspective, and getting ready for a longer and more difficult exit journey than you expect. Remember that valuation—and getting the highest value reasonably attainable in any given market—is as much psychology and art as it is science. A one bidder strategy—even if it’s one that called you while you were reclining in your chair with your feet up!—is rarely going to lead to the best result. Buyers come in all varieties and perspectives—strategics, foreign, PE/financial, bottom feeders looking for a quick exclusivity, competitors just trying to get a look under the hood, and everything in between. Talking only to the one buyer who watched Field of Dreams is a recipe for disaster. What you want to do is tell a compelling story, build momentum, and maximize your leverage around price, timing, and certainty of closing. How do you do that? Trash the axioms and get to work. _____ If you like “Knowing Something” M&A in a Minute ⏰, please tap the 🔔 at the top of my profile so you don’t miss any new posts! #mergersandacquisitions #mergersacquisitionsdivestitures #klgates #negotiations

We recently celebrated our 5th anniversary at Vaya Media 🎉 Here are 5 things I wish I knew 5 years ago.. 1️⃣ Hiring Top Talent Early: I totally underestimated how crucial it was to have a rockstar team from day one. Top talent brings innovative ideas, passion for the vision, and skills that really move the needle. Those early quality hires accelerated our growth big time. 2️⃣ T-Shaped Approach over M-Shaped: At first, we tried to be a jack-of-all-trades. Big mistake! Once we doubled down on just our core strengths in branding, design & digital, our brand identity solidified. Now we're the go-to experts in our niche. 3️⃣ Build a Core Business First: Vaya Media was ground zero - our foundation. From that solid base, we could expanded into VIDA (Digital Marketing Institute) and Vikings (Real Estate Marketing business). Having that core business allowed the other ventures to thrive together cohesively. 4️⃣ Invest for Growth over Saving: Early on, I was too cautious about spending. But strategic investments in tech, talent, marketing? Game-changers. That mindset set us up for bigger long-term wins. 5️⃣ Quality over Quantity: Retention > Everything. I used to chase every new client. Now I know, cultivating strong relationships with a tight client base is where it's at. Loyal clients = recurring revenue + great referrals. #Entrepreneurship #startups #5YearAnniversary

𝟮𝟬𝟮𝟰 – 𝗧𝗵𝗲 𝘆𝗲𝗮𝗿 𝗼𝗳 𝗮𝗱𝘃𝗲𝗿𝘁𝗶𝘀𝗶𝗻𝗴 𝗠&𝗔 𝗱𝗲𝗮𝗹𝘀? These topics fuel this year’s acquisitions: 🟡 Raise of AI, CTV, and Retail Media 🟡 Chrome’s Cookie deprecation Who are the most-likely strategic acquirers of #AdTech and #MarTech in 2024? 1️⃣ 𝗔𝗰𝗰𝗲𝗻𝘁𝘂𝗿𝗲 …could address data privacy and AI model gaps in clients’ mar tech stacks via ad tech acquisitions. 2️⃣ 𝗔𝗺𝗮𝘇𝗼𝗻 …is likely to complement existing ad business by acquiring start-ups that specialise in data & analytics, retail technology, or logistics. 3️⃣ 𝗗𝗼𝘂𝗯𝗹𝗲𝗩𝗲𝗿𝗶𝗳𝘆 …shows strong stock price growth (60%), $250M+ in cash, no long-term debt, and loads of new strategic partnerships. Strong signals for future acquisitions. 4️⃣ 𝗛𝗮𝘃𝗮𝘀 …might look to buy a contextual advertising solution to supplement legacy data acquisitions. 5️⃣ 𝗠𝗮𝘁𝗰𝗵 𝗚𝗿𝗼𝘂𝗽 …could accelerate advertising product development through acquisitions of mobile ad tech. 6️⃣ 𝗡𝗲𝘅𝘅𝗲𝗻 (former “Tremor International Group”) …already bought Spearad, Unruly and Amobee. The company has $200M+ in cash and has recently bought back a lot of shares. Indications for an appetite for further acquisitions. 7️⃣ 𝗧𝗵𝗲 𝗧𝗿𝗮𝗱𝗲 𝗗𝗲𝘀𝗸 ..may look to acquire companies that help reinforce their identity play. 8️⃣ 𝗪𝗮𝗹𝗺𝗮𝗿𝘁 …might acquire ad tech capabilities to continue grow its retail media business. Source: Business Insider, 2024 ➡ What are your M&A predictions for 2024? 🚀 #DigitalAdvertising #Acquisitions

Want to see what next-gen Investors are going to look like when they say they "add value"? Check your IG Stories. 👀 Kim Kardashian's fund SKKY Partners announced their first investment (noted as a large minority stake) in Truff Sauce a few months ago. For Truff's GTM for their new Star Wars collab, they launched the product on all of their owned channels, except this time the announcement was reposted to all of Kim's channels (personal channel, skky partners, etc). That's xMillions more in organic reach. That's xMillions in media value Kim added. This new investment strategy is something I call Differentiated Capital. What that means: in this next chapter of Attention wars, being an investor who can deploy capital alone will not get you in the best deals (well not for a great price). What excellent brands and businesses will always need in order to grow is Attention and Relevance. As a profitable growing business, if you're going to take in capital- wouldn't you pick the person who can provide both of those in one check? Igniting attention on social media is an area that traditional investors and PE shops have historically been weaker in understanding and certainly unable to directly execute for their port co's. In fact, most flat out overlook the digital marketing expertise entirely (that's just an OPEX line item 😂). Imagine Term Sheets of the future including # of paid posts, white listed ad units, brand tags, and affiliate link outs from funds. 🤯 I've been super lucky to work with investors who understand the critical advantage this capability provides portfolio companies. It's also the insight that inspired my focus in working with Growth Equity and Private Equity funds through Greatest Of All Digital, generating Differentiated Capital for our clients through this new playbook. BTW- this attention deficit isn't going away- it's only going to get harder. I'm making a big bet this skillset disrupts the whole investment space entirely and looks like Kim and the port co's she will work with are too. Watch this space 👀 PS- TRUFF- Next drop brief Kim to use the products in her home kitchen or even better brief her bringing a bottle to McD's with her kids and land a scaled distribution deal. People want UGC to build trust- but I get the making it easy for her bit on this first post. 😂 #socialcommerce #privateequity #growthequity #capital #growth #strategy #digitalmarketing