Later Acquisition: Key Details, Impact, and What Comes Next

The acquisition of Later by Mavrck marks a significant development in the social media and influencer marketing industry. This strategic move, finalized in April 2022, aims to integrate Later's social media management tools with Mavrck's influencer marketing platform. The combined entity is set to enhance creator measurement and monetization, benefiting brands and influencers alike.

What Is Later?

Founded in 2014, Later offers a comprehensive suite of tools for influencer marketing and social media management. Its core services include discovering influencers, managing campaigns, scheduling posts, and providing transparent analytics. Unique in the market, Later combines world-class technology with award-winning services, offering a unified platform that integrates social media and influencer marketing. This seamless integration allows brands to manage their social and influencer activities efficiently, backed by over a decade of proprietary data.

Who Acquired Later?

Later plays a pivotal role in the influencer marketing and social media management industry. The company offers key products such as an influencer marketing platform for discovering, recruiting, and managing influencers, and social media management tools for scheduling, publishing, and analyzing content. Additionally, Later provides social listening tools and a "Link in Bio" feature for Instagram and TikTok. With its award-winning services and extensive customer base, Later is a leader in the market, serving over 570 brands and launching more than 6,900 campaigns in 2024.

When Was Later Acquired?

The acquisition of Later by Mavrck was finalized in April 2022. This strategic move occurred during a period of rapid growth in the influencer marketing industry, which is projected to reach $84.89 billion by 2028. The timing aligns with a broader trend of consolidation within the industry, as companies seek to integrate social media management and influencer marketing tools to provide more comprehensive and efficient solutions for brands and influencers.

Why Was Later Acquired?

• Market Expansion: The acquisition of Later by Mavrck significantly broadens their market reach. By combining their user bases, they now serve over eight million users and enterprise clients. This strategic move allows Mavrck to tap into Later's extensive network of nearly seven million creators and small businesses, enhancing their service offerings and market presence.
• Technology Integration: Later's advanced social media management tools, including visual scheduling, media management, and analytics, will be integrated into Mavrck's platform. This integration aims to create a unified platform that combines the best features of social media management, influencer marketing, and link-in-bio tools, providing brands with comprehensive insights and improved monetization capabilities.
• Competitive Advantage: The acquisition strengthens Mavrck's competitive position by incorporating Later's valuable tools and services. The combined platform will offer a unique Social Revenue Platform™ that differentiates them from competitors by providing a more integrated and comprehensive solution for brands and creators. This synergy is expected to drive better brand engagement and offer more predictable and attributable outcomes for creator partnerships.

Acquisition Terms

• Acquisition Price: The exact acquisition price for Later was not publicly disclosed.
• Payment Method: The acquisition was financed through a $135 million strategic investment round from Summit Partners.
• Key Conditions or Agreements:
  • Later will continue to operate as a standalone product and business unit.
  • A new senior leadership team will be formed, including leaders from both Mavrck and Later.
  • Specific roles for key personnel:
    • Roger Patterson will oversee the Later business unit as president and join the board of directors.
    • Smith Anderson will become president of Mavrck’s enterprise-focused business unit.
    • Robin de Pelham will join as chief people officer.
    • Ian MacKinnon will continue as Later’s chief technology officer.
    • Sean Naegeli will continue as Mavrck’s chief creator officer.
  • Mavrck and Later will integrate some services, such as incorporating Linkin.bio analytics into Mavrck's dashboard.

Impact on Later

The acquisition of Later by Mavrck has led to significant changes in operations and management. The unified company will now operate under the Later brand, with key executives from both companies taking on new roles. Lyle Stevens continues as CEO, while Roger Patterson leads the Later business unit as president. The company will maintain its remote operations and hub cities in Boston, Toronto, and Vancouver. This strategic move aims to integrate Later's social media management tools with Mavrck's influencer marketing platform, enhancing the overall service offerings.

Product offerings have also seen notable enhancements. The unified company now offers three flagship products: Later Social™, Later Influence™, and Later Link in Bio. These tools aim to provide a comprehensive solution for social media management, influencer marketing, and link-in-bio functionalities. Customer reactions have been generally positive, with many appreciating the enriched features and improved analytics. However, employee reactions remain largely undocumented. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and efficient transition.