Beeswax, the programmatic ad-tech platform that offers “bidder-as-a-service”, has been acquired by FreeWheel, the digital TV advertising platform. FreeWheel is owned by Comcast. The terms of the transaction were not disclosed. “It should not be news to anyone in the advertising world that Connected TV is the fastest growing area of programmatic,” said Ari Paparo, Cofounder and CEO of Beeswax. “We’ve seen that as well at Beeswax, with more and more customers focusing on bringing together the sight, sound, and motion of television with the power of programmatic advertising technologies. We cannot think of a better home for Beeswax than within FreeWheel, the leading technology provider to the global Advanced TV business.”
It should not be news to anyone in the advertising world that Connected TV is the fastest growing area of programmatic. We’ve seen that as well at Beeswax, with more and more customers focusing on bringing together the sight, sound, and motion of television with the power of programmatic advertising technologies. We cannot think of a better home for Beeswax than within FreeWheel, the leading technology provider to the global Advanced TV business. – Ari Paparo
Founded in 2014 by Paparo, Ram Kumar Rengaswamy, and Shamim Samadi, Beeswax had raised a total of $28.3M in total reported equity funding. Investors in the company include SV Angel, RRE Ventures, Highland Capital Partners, Foundry Group, Revel Partners, Amasia, You & Mr Jones and Brandtech Ventures. The transaction is expected to close early next year, pending regulatory approval.
“Together, FreeWheel and Beeswax can further enhance how television operates. As the ecosystem becomes increasingly complex, sellers and buyers of media want similar capabilities: great automation, simplicity, and the ability to manage data-driven campaigns across hundreds of endpoints. By incorporating Beeswax’s technology into FreeWheel’s offering, we can deliver even more value to clients of both companies, helping them better navigate and succeed in this new landscape,” said Dave Clark, General Manager, FreeWheel.
Together, FreeWheel and Beeswax can further enhance how television operates. As the ecosystem becomes increasingly complex, sellers and buyers of media want similar capabilities: great automation, simplicity, and the ability to manage data-driven campaigns across hundreds of endpoints. By incorporating Beeswax’s technology into FreeWheel’s offering, we can deliver even more value to clients of both companies, helping them better navigate and succeed in this new landscape. – Dave Clark
