Scribble Technologies Inc has acquired CoveritLive, a live events platform, from Demand Media Inc (NYSE: DMD), which bought the company in 2011. The deal’s financial terms were not disclosed. Scribble said the acquisition will position it as a leader in the content engagement market with an expansive portfolio of technologies and services. Founded in 2008, the Toronto-based company is backed by Canadian venture capital investors Georgian Partners, Summerhill Venture Partners, Rogers Venture Partners and Export Development Canada. Originally Toronto based, CoveritLive received funding from Flagstone Capital and angel investors.
Scribble Technologies Inc. Acquires CoveritLive, Creating a Leader in the Content Engagement Market
Acquisition positions Scribble to be No. 1 in the Content Engagement Market; Significantly increases company’s customer base and product pipeline.
Toronto, Ontario (PRWEB) July 15, 2014
Scribble Technologies Inc. (“Scribble”), a leading content engagement platform, today announced the acquisition of CoveritLive from Demand Media. Used by brands like Marvel, Ford, NFL, NHL, BBC, The Football League, and Fox, CoveritLive provides deep functionality around the design and production of interactive content.
The transaction positions Scribble to be a global leader in the Content Engagement Market with an expansive portfolio of technologies and services. Following this acquisition, Scribble will power content engagement for:
500+ enterprise customers, including over 200 international brands;
Over 1500 total customers;
All of the “Big 4” major professional sports leagues (NFL, NBA, NHL, MLB)
100+ professional sports teams
More than half of North America’s most-read newspapers
All three of USA’s top news networks
“2014 has been a great year for Scribble and our company’s growth. We’ve expanded our international presence, released a new enterprise product, and powered more than 4 billion engagement minutes in the past 30 days alone,” said Vincent Mifsud, CEO at ScribbleLive. “CoveritLive will help us accelerate our growth rate even further and exponentially increase our influence in the market.
In the immediate future ScribbleLive and CoveritLive will operate as separately branded solutions. Over time Scribble will integrate the two products to create a best-in-class end-to-end content engagement platform.
“Like Scribble, our company vision has always revolved around the idea of engagement. We created CoveritLive to fill a major gap in online content, and give content creators a way to cover live events and engage users in a way that no one had before—a goal that we achieved,” said Bob Barnard, co-founder and CTO at CoveritLive. “We look forward to exploring and developing even more powerful new ways for our clients to achieve meaningful and profitable business results.”
ScribbleLive is the leading end-to-end content engagement platform that enables brands, sports organizations and media companies to drive engagement on their digital assets resulting in improved retention and acquisition of customers, fans and audiences. ScribbleLive has an international network of customers including world-class brands such as Samsung, Shell, PwC, CNN, The Football League, Mashable, Reuters, Fast Company, CNET and hundreds of others. The company was founded in 2008 and has offices in Toronto, New York, Nashville, London, Dubai, Melbourne, and Sao Paulo. ScribbleLive is a Twitter Certified Product. For more information, visit http://www.scribblelive.com.
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