A Match Made in LATAM: IZEA to Acquire Hispanic Influencer Marketer FLUVIP
What: IZEA specializes in connecting brand marketers with influencer content creators and has signed a letter of intent (LOI) to acquire FLUVIP, which operates multiple influencer platforms in Latin America.
Why it matters: The rapid growth of cell phone use and digital marketing to sell products and services in Latin America makes FLUVIP’s network of 100,000 Hispanic influencers in both LATAM and the US look like the perfect scoop for IZEA to move into the region.
IZEA may have found the perfect match for extending its dominant technology connecting brands and influencers into the growing Hispanic market in the US and Latin America.
Who’s the lucky bride? FLUVIP.
It’s not a big surprise when you consider FLUVIP’s multiple influencer platforms in Colombia, Brazil, Mexico, Peru and Argentina plus FLUVIP’s network of more than 100,000 influencers. Not to mention its client base.
Plus, the rapid growth of cell phone use in the region has been catapulting digital ad spending by brands to new highs making FLUVIP an even more attractive prospect for IZEA.
“We believe that there is a significant opportunity for international consolidation in the Influencer Marketing space,” Alfonso Gómez Palacio, Telefonica’s Director Hispam North said in a statement announcing a Letter of Intent to acquire FLUVIP released on Wednesday.
“This transaction brings together the leading influencer marketing platform in the United States with the leading platform in Latin America."
A match made for LATAM
Pedigree helps in any marriage and FLUVIP is brings a lot to the altar with investors which include the global Hispanic entertainment brand Cisneros Group, Spanish multinational telecommunications company Telefonica, and Velum Ventures specializing in seed and early stage investments in Latin America.
IZEA’s CEO Ted Murphy told the website Cheddar that IZEA sees tremendous promise in influencer marketing in LATAM where digital ad spending is expanding at twice the rate of the US.
This transaction brings together the leading influencer marketing platform in the United States with the leading platform in Latin America.
But successful influencer marketing requires a vision and perseverance, according to Vivian Baron, founder and creative chairwoman of Band of Insiders.
She recently told attendees at #PortadaMX in Mexico City only a “long-term strategy” can grow the “critical mass of loyal followers” brands need for influencer marketing to do its magic.
Synergy between influencers and a brand’s values is also an important tonic for success.
“You should focus on gaining trust and credibility through an influencer whose values coincide with the company's,” José Camargo, e-commerce subdirector at Best Buy Mexico told #PortadaMX.
A perfect union of technology
IZEA intends to leverage its marriage with FLUVIP to combine the organizations’ technologies and provide better influencer marketing services to large international brands.
This technological union will accommodate multiple languages and currencies, software and managed services, and cultural expertise.
“We are excited by the potential to unite FLUVIP with IZEA to form a truly unique technology and services platform catering to marketers and influencers across North, Central, and South America,” Sebastian Jasminoy, Founder and CEO of FLUVIP, said in a release.
Multiple ways to tell brands' stories
The marriage of IZEA and FLUVIP would appear to create a perfect match for brands looking for influencers to deliver their unique stories to consumers in LATAM.
FLUVIP operates platforms in LATAM that include Influtech, AdvocatesPro, and Mediadata where brands can harness the power of leading opinion makers in the region.
Plus, FLUVIP customers include Coca-Cola, Samsung, Apple, Pepsi, BBVA, Sony, Fox and National Geographic to name just a few.
But the game of influencing consumers isn’t just about influencers.
"Influencers are not only about your image; they can provide a great amount of information. By analyzing data and organic profiles, you can find more information than what a common marketing study can provide,” Band of Insiders Influence Marketing Manager Leonardo Vargas told #PortadaMX.
The precise terms of the FLUVIP acquisition haven’t been announced. The transaction may be consummated as soon as May of this year.