Twitter buys minority stake in digital advertising startup Aleph
Written by on January 11, 2022
January 11, 2022
(Reuters) – Twitter Inc has picked up a minority stake in Aleph Group Inc, the digital advertising startup said on Tuesday as it seeks to go public in the United States.
Aleph did not reveal any financial terms of the investment but said Twitter’s stake buy would help the company expand its educational tech platform.
Emerging markets-focused Aleph, which helps large digital platforms connect with advertisers and customers, counts music streaming platform Spotify Technology SA, Meta Platforms Inc and Microsoft Corp-owned LinkedIn among its customers.
Aleph, which was valued at $2 billion last year after private equity firm CVC Capital Partners bought a stake worth $470 million, had confidentially filed for a U.S. initial public offering in October.
Latin American fintech company MercadoLibre Inc is also among Aleph’s investors, having picked up a stake worth $25 million in August last year.
(Reporting by Manya Saini in Bengaluru; Editing by Ramakrishnan M.)