ABU DHABI: International Holding Company (IHC)’s subsidiary Multiply Marketing Consultancy (MMC) has acquired a stake in Firefly, a street-level digital media platform that connects audiences with dynamic media on taxis and rideshare vehicles.
Investment accompanied by joint-venture plans to bring Firefly’s proprietary media technology to the Middle East.
Firefly is backed by premier investors such as Google Ventures, NFX, and Stanford University’s StartX Fund and operates across major US cities, working with taxi companies and rideshare drivers to install its proprietary advertising displays atop their vehicles.
These proprietary screens deliver dynamic content based on location-based, WiFi-enabled triggers. In terms of visibility, Firefly’s screens ensure over millions of impressions per month.
This deal will expand Firefly’s operations into the Middle East for the very first time through a joint-venture office based within MMC’s headquarters in Abu Dhabi.
Samia Bouazza, Chief Executive Officer of Multiply Marketing Consultancy commented: “Firefly’s investment will bring more value to all advertisers seeking to personalize their messaging and hyper-target their audiences. Investments in our Communications vertical ensure that our media teams are servicing our local clients with the latest, most innovative and analytically-precise technology available on the market.”
Firefly will become part of Multiply Group’s Communications vertical, which includes award-winning global agency MMC, Viola a well as other minority stakes in companies such as Yieldmo, one of the world’s fastest-growing digital advertising and attention analytics companies.
The Communications’ vertical overarching purpose is to empower clients and brands with disruptive platforms and global talent to create human-centric, effective hyper-targeted marketing campaigns that maximize ROI.
“Our investments are chosen to meet several criteria that are true to our philosophy. They are future-focused, efficient and scalable; and they empower at least one stakeholder to reach their full potential through technology,” added Bouazza. Multiply Marketing Consultancy is a fully owned subsidiary of International Holding Company (IHC).