15 August 2017 - Las Vegas, US-based online social media network company Momentous Entertainment Group, Inc. (OTCBB: MMEG) has executed agreements and completed initial funding to acquire mobile advertising network Blackfox.IO, the company said.
Terms of the deal were not disclosed.
Blackfox.io has a worldwide affiliate network with historical revenues over the past four years having topped USD 2.5m annually.
The company experienced explosive growth in 2016 with over a dozen premium and big-budget advertising customers such as Symantec (owner of Lifelock), Tiger Media Inc, Cliq Digital (all three companies are publically listed with revenues over USD 300m).
These and other direct Blackfox customers have used the Blackfox platform to run major mobile ad sales campaigns for such companies as Walmart, Nutri-Systems, Old Navy, LivingSocial, Amazon, GoDaddy, Macy's, LendingTree and others.
According to Momentous Entertainment, Blackfox has a competitive advantage in that their customers only pay for performance on successful installs or generated purchases. In addition, Blackfox clients are allowed to pay on credit terms (after a credit check).
This allows our advertising partners to significantly grow their business when using the Blackfox advertising platform. With mobile advertising on the rise, Blackfox is well positioned to offer advertisers a risk-free opportunity to capitalize on this growing niche.
The biggest opportunity readily available to Momentous is Blackfox's ability to quickly scale as Blackfox has hundreds of worldwide pending affiliates' applications wanting to use and make...