Later Acquires Mavely for $250M. The Creator Economy is Here to Stay!
Later announced today the acquisition of Mavely for $250M, creating a creator powerhouse. Later is an enterprise-level influencer marketing and social media management software platform. Mavely is an app for the “everyday influencer” who earns commissions on sales. Later’s AI predictive analytics will now leverage first-party performance data from Mavely’s network of more than 120,000 creators who have driven over $1 billion in gross merchandising volume (GMV) across over 1,400 major brands including Nike, Anthropologie, Lululemon, Macy’s, Old Navy and Adidas.
As we discussed at Street Fight LIVE 2024, creators (people who are “regular” consumers and social media influencers) as become as influential than the creative teams behind mass advertising and digital ad content.
The creator economy is defined by EMARKETER as “An ecosystem involving creators, audiences, digital platforms, marketers, and agencies, interconnected through the exchange of content, money, or goods and services.”
The Later/Mavely purchase will contribute to that ecosystem by merging revenue-generating technology with a sizeable database of people creating content.
MULO (multi-location) brands and their agencies seek more than millions of IG views. They are looking for full-funnel impact and measurable ROI and Scott Sutton, CEO of Later, believes the acquisition will do just that.
Mavely’s campaigns are reported to drive 3-5x return on ad spend from this type of influencer marketing. The merging of the technologies will expand the company’s offerings to enhance creator content by allowing marketers to expand their reach into a wide range of paid media, including retail media, which is becoming a massive and rapidly-growing part of the MULO advertising landscape.
“Bringing Mavely under the Later umbrella is a major step in redefining how marketers and creators work together,” says Scott Sutton, CEO of Later. “Mavely brings incredible technology, expertise, and a shared vision. By combining our strengths, we are enhancing the value we provide to marketers and empowering creators to build sustainable, income-generating businesses. This move enables us to deliver a seamless, full-funnel experience for marketers—offering return-on-ad-spend (ROAS) based campaigns and driving predictable, attributable outcomes. Through this acquisition, we’re able to create new and better opportunities for our clients, employees, and the entire creator ecosystem.”
Mavely’s cofounders and leadership team—CEO Evan Wray, CTO Sean O’Brien, and CFO Kevin Kenefick—will join Later’s leadership team and will play pivotal roles in shaping the company’s future.
“We’ve always believed in the power of creators to drive authentic engagement and real business outcomes, at scale,” said Evan Wray, CEO of Mavely. “Joining forces with Later allows us to take this to the next level, creating a more comprehensive platform that delivers value to both creators and marketers. Together, we’re building a future where creators are at the center of the marketing ecosystem, and brands have the tools they need to connect with their audiences in impactful and measurable ways.”
