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Strategic reasons lead a Berlin based startup to be sold

With influencer marketing millions can be earned. The founders of the Berlin agency Reachhero know that too. Philipp John, Aaron Troschke and Christian Chyzyk have just sold their startup for a mid seven digit amount plus a performance based bonus. However, the startup does not reveal the exact price.

The new shareholder Blockescence now holds 67.4 percent of Reachhero. Headquartered in Malta, Blockescence is also a member of the Gamigo Group, the umbrella group of digital agencies Mediakraft and Adspree Media. The newcomer Reachhero will cooperate with the two companies in the future.

Actually, the startup has been thinking about a new round of financing, says John in an interview with founder scene. For strategic reasons, they then decided to sell. The founders trio retains its shares and remains in the management. The startup receives the purchase price in the form of Blockescence shares and cash. The existing shareholders Rocket Internet with its investment arm Global Founders Capital and the fund Rocket Internet Capital Partners, Axel Springer Plug and Play and IBW Ventures are also shareholders of Blockescence.

Reachhero was founded in 2014 and claims to work with more than 70,000 YouTube and Instagram stars. Companies like Lidl, Sony and AEG use the platform to get in touch with influencers and place their products on their channels. In 2019, the Berlin startup wants to implement such a medium seven-figure amount and continue to make profits.

Published inStartups

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