Coull, which is the sole video partner of Google Affiliate Network, is acquiring California based RevUpNet, an established and profitable online marketing agency, for $2 million. Coull directors believe RevUpNet will provide it with exponential growth opportunities. Coull is a market-leading Video Performance Network that provides advertisers with interactive engagement elements and tracking systems to monitor online sales made from videos. Advertisers post videos within Coull and publishers are able to select videos and offers that best suit their audiences and financial metrics. The Company tracks network activity and collects a commission from each transaction.
RevUpNet is an online-based marketing agency that has strong relationships with publishers, delivering over $60m in sales over the last 3 years, which will act as a portal for Coull to enter the U.S market.
Coull currently has a large expanding database. To date there are 383 advertisers that features Dell, Sears, Puma and American Express and 52,000 publishers that includes the Telegraph, Imagine and Future Publishing. Coull is currently loss making but with the acquisition of RevUpNet and its organic growth, it is expected to become profitable in Q3 of 2012.
The online video market is growing rapidly. Between 2008-2011 hours spent watching online video increased by 321% to 19.3 hours per month. Online video advertising spend has been growing at a similar rate and is forecast to grow at a compound average growth rate of 36% between 2010-2015 making total revenue in that year $7.1 billion. Video advertising is the fastest growing advertising online format which in 2010 reached 52% of the U.S population. On YouTube 48 hours of video are uploaded every minute.
Peter Webb, CEO of Webb Capital commented: ‘‘Coull is an exciting dynamic growth company that is backed by a strong management team. We are delighted that the Company has been successful in raising these funds and wish it every success for the future’’. Irfon Watkins, CEO of Coull commented: ‘‘It was essential to the growth of Coull that we build a US business. As a result of this acquisition we are well positioned to build on recent Client wins including Sears, Puma and Under Armour and expect 50% of our business to come from US within the next 12 months. Video is the fastest growing sector within online advertising and Coull is positioned to take a market lead in Europe and US.’’