It’s The Shred – a mini-Chad and Cheese bite of Breaking News — This is Chad Sowash
On to the NEWS for July 1st 2019..
The Deutschland powerhouse Stepstone acquires programmatic job distribution darling Appcast.
You heard it here on Chad & Cheese first – It’s an arms race kids and Stepstone made an incredibly wise choice in gobbling up a majority share of Appcast today. 85% of Chris Foreman’s baby now belongs to Stepstone, Chris’ back hurts from carrying all of the cash around of course. Chris he will continue to captain the ship and it seems HQ and all 100ish employees are safe and partying their asses off in New Hampshire.
Wait, What? You don’t know who Stepstone is? Stepstone is a German POWERHOUSE – owned by Axel Springer who has about 3,000 employees – No not the character of Beverly Hills Cop that was Axel Foley. Anyway, Stepstone has a presence in 24 counties, w/ 60 million monthly visits, 600k+ jobs listings, 29 million CVs.
Here’s where things get interesting, late last year when I asked a member of the Stepstone C-suite about partnership and acquisition – relative to tech – I was told “We build our own tech.”
Well kids, this is exactly what happens when you CANNOT build fast enough to keep up with the market. You partner, buy or die.
But once again, Stepstone – a European company – just out played EVERY platform in the US market by taking THE DOMINANT PROGRAMMATIC PLAYER off the board.
“Ihr werdet gerade gespielt” that’s “Y’all just got played” in German… I think…
I’m predicting THIS to be the moment when the European market starts moving from their dominant duration-based ads to performance-based ads – you know CPC, CPA and such. It’s a blue ocean across the pond for performance-based ads – get it?
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SOWASH — OUT!