Private equity firm Webfolio Management has acquired ad-tech company PicReel.com for an undisclosed sum. PicReel is now part of a larger organisation that is operating several brands in the mar-tech and ad-tech vertical.
The majority of PicReel employees will continue to work from their European and Asian offices, joining Webfolio's core team working from its world headquarters in Reno, NV.
PicReel is a conversion rate optimisation software solution that helps a brand increase leads and revenue by capturing visitors before they leave a site. Discounts and offers, solicitations for feedback, and urging visitors to take some action such as subscribing to a newsletter, can all be displayed before a visitor is able to navigate away from high value content or close their browsing window.
PicReel customers will now benefit from the marketing and advertising services offered under the Webfolio Management Inc umbrella, which includes OnlinePRNews.com, Blogsvertise.com and NewWorldPodcasting.com.
"Webfolio's core value is 'growth' for our customers and their clients, as well as our employees, vendors, and investors. PicReel's plug-and-play traffic conversion platform further enables our clients to realise topline growth while appropriately managing ROI. Combined with our other brands, we're offering a valuable array of mar-tech and ad-tech products that help our clients do more and achieve more with their advertising dollars," says Kevin Petersen, CEO of Webfolio Management Inc.
Petersen has more than 20 years marketing experience specialising in B2B marketing communications, program strategy, database marketing, and marketing automation. A confessed 'serial entrepreneur,' he has been balancing the last 20 years between consulting to Fortune 500 companies and leaders including Charles Schwab, Wells Fargo, Barclays Global Investors, Kelly Services, Caesar's Entertainment, and insurance membership company AAA – and launching highly successful online ventures. Following the launch of two of his own successful ventures, KP Marcom in 2000, and Noisy Planet in 2008, Petersen went on to create private equity firm Webfolio Management as a way to invest in web-based businesses worldwide, then optimise the assets to maximise traffic and revenue. The firm also provides web management training and digital marketing services to business owners through the network of brands they own and partner with.
Portfolio Strategist, Aloke Nanda, has more than 15 years experience in executive and consulting roles, specialising in new ventures and international business growth. He has been an Angel and series A and B round investor both with his own capital and that of Spark Innovations, an early Stage Incubator / VC firm where he served as operating partner. Several of his investments have led to IPO's or strategic sales. As part of his executive management experience, Nanda was the Managing Director of AxialMarket, where he helped build what is now the largest online platform and marketplace for Buyers and Sellers of private companies in the middle market. AxialMarket's buyers, including Private Equity firms and Family offices, represent over USD150 billion in capital under management.
The sellers on AxialMarket number more than 1,200 firms, consisting of investment banks, boutique advisors, corporations, and entrepreneurs. During his tenure, Nanda's team facilitated over USD1 billion in transactions between members. Nanda has extensive background growing SaaS businesses, and was previously VP of Sales for Salesforce.com, one of the world's largest and most successful SaaS CRM companies in the world. As a highly skilled strategist, tactician, and negotiator, he understands how to turn start-ups into emerging leaders, and emerging leaders into market leaders.
"This acquisition is an excellent opportunity for PicReel and its customers. We were very impressed with the experience of Petersen and Nanda and their vision for taking PicReel to the next level, and we expect nothing but success for everyone involved with this venture," says Alex Bashinsky, Founder PicReel.com.
