Twitter buys minority stake in digital advertising firm Aleph
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TWITTER has picked up a minority stake in the Aleph Group, the digital advertising firm said on Monday, as it seeks to go public in the US.
Aleph did not reveal any financial terms of the investment, but said Twitter’s stake buy would help the company expand its educational tech platform.
Emerging markets-focused Aleph, which helps large digital platforms connect with advertisers and customers, counts Meta Platforms’s Spotify Technology, and Microsoft-owned LinkedIn among its customers.
Despite wide-ranging supply chain disruptions that delayed products from reaching shelves and a user privacy clampdown by Apple that many feared would disrupt mobile advertising, brands have continued to advertise online.
Founded in 2005 as IMS Internet Media Services, Aleph was valued at $2 billion (R32bn) last year after private equity firm CVC Capital Partners bought a stake worth $470 million.
Aleph had confidentially filed for a US initial public offering in October.
Latin American fintech company MercadoLibre is also among Aleph’s investors, having picked up a stake worth $25m in August.