LoopMe Pivots From Mobile Ad-Inbox Towards AI-driven Video, Closes M
Way back in 2013 LoopMe attempted to solve the problem of intrusive ads on a mobile screen by consolidating them into an “ad inbox” that the user would access through a small button. They raised a seed round to do it. Then in 2014 they raised a $3M round after dumping the ad-inbox model to become a mobile video ad business, that uses AI in automatic, real-time retargeting of ad campaigns. Basically, the AI replaces ad-operations teams who would only do campaign optimisation. Awww. Poor little ad executives. Clearly investors agree with the direction, because LoopMe has now completed what is now being billed as their second round of their earlier Series A funding. The new round takes them to a $7 million with investment from Holzbrinck Ventures and Open…
Link to Full Article: LoopMe Pivots From Mobile Ad-Inbox Towards AI-driven Video, Closes M
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