Avocarrot : Greek native mobile ad start-up sold for $20 million

Greek native mobile ad exchanger, Avocarrot, has been sold to Glispa Global Group for $20 million dollars.

Berlin-based Glispa thus acquired its third such ad tech company in two years. The acquisition was announced on the Avocarrot Facebook earlier today.

Avocarrot, with offices in Athens, London and San Francisco, was co-founded by Greek Cypriot Conno Christou; he along with co-founders Georgios Makkoulis, Giorgos Eracleous, and Panagiotis Papageorgiou will join the Glispa team developing Ampiri. Other engineers of Avocarrot will join as well.

Avocarrot offers a monetization solution for mobile apps; this less intrusive appearance of ads is called native advertising.

Just like Facebook and Google’s own, native ads assume the look and feel of existing app content. By doing so, money-making adverts become less intrusive than banner ads, leading to more clicks and revenue.

Avocarrot will keep its existing offices in Athens and San Francisco.

The name Avocarrot was created as an obvious cross between avocado and carrot. We get it. 😀

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