Adiant has acquired marketing platform InSparq for an undisclosed amount.
InSparq uses trends and on-site social tools to help consumers discover products. InSparq was a participant in this year’s New York Fashion Tech Lab accelerator program. Founded by Veronika Sonsev, the company was mentored by Kate Spade and Alex and Ani during the accelerator program. According to Sonsev, InSparq’s chief executive officer, InSparq and Adiant were initially in discussions about working together before the idea of a strategic merger came up.
Adblade is owned by Adiant, the largest content-style native advertising platform on the web.
Adiant’s ceo Ash Nashed said the addition of the technology platform will leverage InSparq’s e-commerce and social media expertise with Adiant’s digital scale and advertising know-how to tap into social merchandising. Essentially, the concept involves the creation of a social monitoring process where the data tells what ads to feed through the technology platform in real time. “This helps retailers dynamically promote product” to consumers, Nashed said.
The model is a push-ad format primarily known as CPM, but there can be different ways to charge for acquisition and conversion of consumers.
According to Nashed, “InSparq give us an opportunity to create the first-ever socially trending product ad that will have access to a base of over 550 million monthly uniques across the globe.”
In addition to InSparq, Adiant’s brands include Adblade and IndustryBrains.
InSparq is the second New York Fashion Tech Lab participant to be acquired after the accelerator program. Last year, in its freshman year as an accelerator program, Clothes Horse was among the first group to participate in the program. Launched in 2012, the company uses algorithms to help solve the consumer conundrum of finding the right fit when buying apparel online.