The deal will expand the company’s operations in the Middle East through a joint-venture office based within MMC’s headquarters in Abu Dhabi.
Abu Dhabi-based Multiply Marketing Consultancy (MMC), a subsidiary of International Holding Company, has acquired a stake in Firefly, a street-level digital media platform which provides digital media on taxis and rideshare vehicles.
Firefly is backed by major 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. The proprietary screens feature content based on location, and are Internet-enabled.
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, said: “Firefly’s investment will bring more value to all advertisers seeking to personalise 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 global agency MMC, Viola, as well as other minority stakes in companies such as Yieldmo, a digital advertising and attention analytics company.
