Performance marketing platform, Vungle, has entered into a definitive agreement to acquire JetFuel, an influencer marketing platform headquartered in San Francisco. JetFuel enables app developers and other advertisers to scale marketing campaigns across a network of over 15,000 fully-verified influencers, with a combined reach of over 4 billion Instagram followers, 1.5 billion TikTok followers, and 100 million daily Snapchat views.
According to a recent benchmark report, the global influencer market is expected to be worth $13.8 billion in 2021, up from $1.7 billion in 2016, with a Compound Annual Growth Rate (CAGR) of 52%.
Advertisers continue to invest a larger share of their marketing budget in influencer marketing each year. JetFuel has innovated in this space by automating campaign management and execution, removing the need for the time-consuming manual work that is characteristic of traditional influencer marketing.
The company charges advertisers on a cost-per-action (CPA) basis, ensuring that advertisers achieve measurable outcomes with high ROI. JetFuel also empowers influencers to create authentic, custom promotions that drive strong results.
The JetFuel acquisition will enable Vungle to offer advertisers even greater reach in acquiring high-value users and the ability to target the increasingly valuable Gen Z market through engaging, influencer-owned viral content that drives action.
Jeremy Bondy, CEO, Vungle