Influencer Marketing Pioneer Acquired By Fullscreen
Pete Borum co-founded Reelio, which is an influencer marketing platform that enables brands, agencies, and publishers to find social media influencers to endorse their products.
While Borum and his three co-founders forecasted the trend of influencer marketing, their major challenge was convincing advertisers who were used to controlling every aspect of a brand’s marketing, to turn over content creation to celebrity YouTubers, Instagrammers, and Snap Chatters.
Despite this challenge, they managed to raise $15M in capital from investors, and the company grew. Borum had acquisition conversations with several strategic buyers and was bought in 2018 by Fullscreen, which is owned by Otter Media, a joint venture between AT&T and the Chernin Group.
In this episode, you’ll learn:
- Reasons to loop in investors during the selling process
- Why having a “Best Alternative To A Negotiated Agreement” (BATNA) is an important step in the exit planning process
- How to influence the way an acquirer thinks about your company’s valuation before getting a term sheet