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

Skeepers' acquisition of Octoly marks a significant move in the influencer marketing industry. This strategic merger aims to enhance Skeepers' capabilities in connecting brands with influencers, thereby boosting visibility and sales. By integrating Octoly's platform, Skeepers is poised to offer more comprehensive tools for managing influencer campaigns, positioning itself as a key player in the global market.

What Is Octoly?

Founded in 2014, Octoly specializes in influencer marketing solutions. Its core services include connecting brands with a community of vetted nano and micro influencers, automating user-generated content collection, and managing rights. Octoly's unique selling points include its AI-powered platform, which supports the entire lifecycle of influencer campaigns, and its ability to integrate shoppable content, enhancing shopping experiences and driving conversions. The platform also offers real-time data analysis to optimize campaign performance.

Who Acquired Octoly?

Skeepers plays a pivotal role in the User-Generated Content (UGC) management industry, offering AI-powered solutions to help brands grow. Key products include Ratings & Reviews, Feedback Management, Influencer Marketing, and Brand Communities. Additionally, they provide extensions like Consumer Videos and Live Shopping. Trusted by over 8000 companies, Skeepers enhances customer engagement, increases conversions, and builds lasting relationships, positioning itself as a leader in the market.

When Was Octoly Acquired?

Skeepers acquired Octoly on October 5, 2021. This acquisition came during a period of significant expansion for Skeepers, following a $32 million funding round. The timing aligns with broader industry trends where Martech companies are increasingly acquiring firms to enhance their capabilities in influencer marketing and user-generated content. This strategic move positions Skeepers to offer more comprehensive solutions to brands, leveraging the growing importance of social media and influencer-driven marketing.

Why Was Octoly Acquired?

• Market Expansion: The acquisition of Octoly allows Skeepers to broaden its market presence significantly. By integrating Octoly's established network of influencers and consumers, Skeepers can now connect brands with customers across seven global markets, enhancing its international reach.
• Technology Integration: Skeepers benefits from Octoly's advanced technology, which includes tools for managing influencer campaigns, real-time reporting, and direct integration with platforms like Shopify. This integration enhances Skeepers' technological capabilities, offering a more comprehensive Martech platform to its clients.
• Competitive Advantage: Acquiring Octoly strengthens Skeepers' position against competitors by providing a direct connection between brands and influencers, reducing the need for third-party marketing agencies. This move empowers brands to run self-serve campaigns at scale and offers sophisticated measurement capabilities, making Skeepers a more attractive option in the influencer marketing industry.

Acquisition Terms

• Acquisition Price: The financial terms of the acquisition were not publicly disclosed.
• Payment Method: The payment method was not specified in the available sources.
• Key Conditions or Agreements:
  • Eli Curetti, CEO of Octoly, will join Skeepers as the country manager for the United States.
  • Octoly has been rebranded as Skeepers and will continue to invest in new features such as direct integration with Shopify, better influencer support, and live shopping services hosted by influencers.
  • The merger aims to create the first network of nano, micro, and consumer influencers globally.
  • Hivency and Octoly will integrate into the range of solutions offered by Skeepers, providing benefits for client brands and influencers, including access to new markets and enhanced platform features.

Impact on Octoly

The acquisition of Octoly by Skeepers has led to significant changes in operations and management. Eli Curetti, the CEO of Octoly, has transitioned to Skeepers as the country manager for the United States. This move is part of a broader strategy to integrate Octoly's capabilities with Skeepers' existing platforms, enhancing the overall service offering. The rebranding of Octoly to Skeepers signifies a unified approach, aiming to create a comprehensive Martech platform that leverages the strengths of both companies.

Product offerings and services have also seen notable enhancements. The integration has introduced new features such as direct integration with Shopify, improved influencer support, and live shopping services hosted by influencers. These additions aim to provide brands with more sophisticated tools for managing influencer campaigns and measuring their effectiveness. While specific employee reactions are not detailed, customer feedback has been positive, with testimonials highlighting the platform's ability to scale and improve traffic and sales. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly and efficiently.