India-based martech firm Wondrlab has acquired influencer marketing platform Opportune, for an undisclosed sum.
Founded in 2020 by former investment banker Kanishk Kanakia and software engineer Nikhil Kothari, Kolkata and Pune-based Opportune helps brands find the right influencers to drive their campaigns, using data from Instagram and Facebook APIs, regularly updated and delivered through an app interface. Once signed up on the Opportune app, brands can use tools to filter, search and sort influencers based on budget, reach, impressions, engagement rate and audience analysis, and are able to track social media insights for campaign posts.
According to research from Wondrlab, 71% of retail purchase decisions are influenced by social media creators, while 45% of social media users use social networks to research brands. Saurabh Varma (pictured), founder and CEO at Wondrlab, comments: 'Opportune is aligned with our ambition of democratising the creator economy. The timing of this acquisition can't get any better. The global influencer marketing industry is projected to grow to $24 billion by 2025. When you are building India's only martech network and not just an agency, a strong influencer marketing play is key'.
Web sites: www.wondrlab.com and www.opportune.co.in .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.