Koddi Acquires Former HookLogic Travel Business From Criteo
FORT WORTH, Texas and NEW YORK (PRWEB) December 07, 2017 -- Koddi, a cloud-based marketing technology company for travel brands, today announced the acquisition of the former HookLogic Travel Business from Criteo (NASDAQ: CRTO) – including all employees, technology, services and customers. This addition gives Koddi a larger footprint with the ability to deliver far more visibility and intelligence for existing and new travel brands - leading directly to real business value, scaled bookings and increased revenue.
According to a Deloitte 2017 Industry Outlook* on travel and hospitality, global business travel in 2015 hit a record-breaking $1.2 trillion, up 5% from the previous year. The report reinforces the need for large brands to stay nimble and innovate. “While booking for 2017 appears to be healthy, the largest brands are not guaranteed the spoils. The past few years taught established industry incumbents to never again underestimate a seemingly innocent travel startup.”
“Brands want to work with less companies and find the right partners that quickly help them grow business and grow revenue - whether that’s online or offline,” said Nicholas Ward, President and co-founder of Koddi. “We want to be that partner and the acquisition of the former HookLogic travel business - and most importantly the people who run and work on it - allows us and our clients to win in the end. With these tremendous assets, we can now scale our offerings more quickly and give travel brands the increased reach needed for them to be successful in this hyper-competitive space.”
The teams driving this business will be integrated into respective Koddi product and sales teams. The leaders of these teams, Christopher Heike and Brian Batts, will join Koddi, providing tremendous leadership and execution skills to an already strong and talented team. They will lead the expanded Koddi offices in Ann Arbor and New York.
The new IP to the Koddi family strengthens its leading position in the travel marketing and advertising space. The company partners with some of the biggest travel brands to drive significant business results through metasearch campaigns in places like Google, TripAdvisor, Kayak, and Trivago. More than 215,000 hotels have gone live with Koddi, averaging a 35% return on investment increase and a 41% increase in bookings.
Koddi continues to grow and evolve the company, as it’s been successful tapping into deep oceans of social data and travel intent behaviors. As Facebook’s Innovation Spotlight Winner, its integration with Facebook’s Dynamic Ads for Travel gives hundreds of thousands of hotels the most actionable insights to drive bookings and revenue off of Facebook. The combination of Facebook’s personalization engine with Koddi’s unparalleled ability to utilize internal data gives travel brands a competitive advantage in driving relevant experiences.
“The news today further drives home the need for travel brands to better connect with their customers,” said George Popstefanov, co-founder and CEO of Koddi. “As the market continues to become fragmented, the winning brands will partner with those that deliver a combination of personalization with the best technology expertise, data, machine learning and reporting insights. This is Koddi, and we’ll continue to partner with our customers and drive significant business results.”
- Deloitte Travel and Hospitality Industry Outlook 2017
About Koddi
Koddi is a cloud/software-as-a-service (SaaS) provider of marketing technology for advertisers in the travel industry. Our partners leverage the Koddi platform and its fully automated and customizable reporting features to manage marketing investment for hundreds of thousands of hotel properties globally. More than 215,000 hotels have gone live with Koddi, powering more than $2 billion in revenue, while averaging a 35% return on investment increase and a 41% increase in bookings. Based in Fort Worth, Texas, Koddi has offices in New York, and Ann Arbor. For more information, visit http://www.koddi.com.
About Criteo
Criteo (NASDAQ: CRTO), the leader in commerce marketing, is building the highest performing and open commerce marketing ecosystem to drive profits and sales for retailers and brands. More than 2,700 Criteo team members partner with 17,000 customers and thousands of publishers across the globe to deliver performance at scale by connecting shoppers to the things they need and love. Designed for commerce, Criteo’s Commerce Marketing Ecosystem sees over $550 billion in annual commerce sales data. For more information, please visit http://www.criteo.com.
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Todd Cadley, Manual Labor, +1 8438223226, [email protected]
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