The launch of Mitgo, the new parent holding company for the Admitad business group, aims to simplify the current company structure, allowing Admitad and its assets the freedom to develop independently, to grow in different directions, and to create new outposts in emerging industries.
With many of these new enterprises falling outside of Admitad’s classic marketing environment, a company restructuring was due.
Since its founding in 2009, Admitad has become a Global Partner Network and leader in the partnership marketing industry. In 2022, its services and platforms generated more than 130 million orders for 35,000 brands and online merchants, monetizing the audiences of more than 100,000 publishers.
The past five years have seen a period of strong growth and accelerated acquisition, with the company having spent more than $30 million in acquiring, investing in, and launching various new projects and businesses.
Alexander Bachmann, CEO, founder, and sole owner of Admitad, will step in as CEO of Mitgo. He states that the move reflects that the company is now much broader in scope than ever before.
“The worldwide economy is changing rapidly. By developing its own products and investing in promising new projects, Mitgo will make a major contribution to the development of industries such as eCommerce, AdTech, and MarTech. An innovation-focused approach is the very backbone of Mitgo’s business operation. This new company structure will allow us even more freedom to launch ventures, acquire, invest – and attract investment”, states Bachmann.
CEO Alexander Bachmann
As a multinational holding company with assets in the MarTech, FinTech, and IT innovation fields, Mitgo plans to play a big role in the future shaping of these industries. Our business units already work with some of the biggest brands in-market including Stubhub, Gymshark, and PatPatWW, positioning us well for future growth.
This move will allow Mitgo to tap into new, upcoming fields. Fields such as EdTech – where their Univibes service helps students to choose, apply to and win international university scholarships, and Smart Shopping with their CheckRewards solution.
Mitgo will also act as a startup incubator all over the world, including the US. Focusing on founders as an investor and entrepreneur network supporting and developing promising new businesses. One of its main priorities is to attract strong project founders, active co-investors, and new team members in focus regions. With 5 million new businesses created in the US in 2022, the market is ripe for this support and investment potential.
Mitgo plans to invest in the collaborative technology startup ecosystem in Chicago and the greater midwest as it grows to rival the legacy tech hubs on the coasts through strong entrepreneurial community with direct access to world-class talent.
Admitad will remain one of Mitgo’s core businesses, with a continued focus on being a global performance marketing platform and IT solutions provider. The company will launch several new innovative products in 2023.
Businesses within the Mitgo family (100% stake) focus on native advertising (TakeAds), coupon and voucher advertising solutions (FairSavings), influencer marketing solutions (ConvertSocial), EdTech market (Univibes), and affiliate and referral tracking solutions (Tapfiliate). Businesses within the extended family (partial stake) include Letyshops, Sarafan, Booknet, and Manganum. Several of these offerings were created within Mitgo’s own startup studio and accelerator.
US entrepreneurs, content creators, and SMBs can expect to gain access to the wider set of Mitgo tools and solutions in the years ahead supporting their business growth and success.
With offices in 10+ countries and a team of more than 700 professionals specializing in different regions – from LATAM to APAC – Mitgo offers a complete infrastructure of long-standing local business relationships in leading economies worldwide. With planted midwest roots in the form of an office in Chicago, Mitgo plans to grow in the US while supporting local tech startup growth along the way.
Brands under the Mitgo umbrella will benefit from full access to the complete spectrum of growth options, experience, and financial support that its parent company can provide.
Mitgo’s mission is to create, launch and scale new businesses through investment and acquisition. To this end, the company plans to invest between $75-$100 million by 2025.