Fresh Off $40 Million Raise, CreatorIQ Buys Tribe Dynamics

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Fresh Off $40 Million Raise, CreatorIQ Buys Tribe Dynamics

One of the largest influencer marketing companies, a Culver City-based startup that's helping Disney, AirBnB and Amazon build social media campaigns, is getting larger as demand for data on social media stars grows.

CreatorIQ, a marketing analytics company, is acquiring a similar company called Tribe Dynamics for roughly $70 million.


The cash and stock deal announced Sept. 21 comes less than a week after CreatorIQ raised $40 million to scale its operations and invest in fine-tuning the artificial intelligence systems it uses to get precise measurements of a brand's digital footprint.

Both companies use artificial intelligence to analyze market trends and gauge if marketing is working. As influencers become the default spokespeople for big-box brands, companies are shelling out to predict who's the best voice to sell specific products.

CreatorIQ CEO Igor Vaks

CreatorIQ CEO Igor Vaks

CreatorIQ CEO Igor Vaks said each company prioritizes measuring a different subset of influencer marketing campaigns, which is why combining them made sense.

San Francisco-based Tribe Dynamics tracks what co-founder Conor Begley calls "earned media," a term to describe advertising that the company doesn't pay for, like people flexing their Tesla on Instagram.

The car owner isn't paid by Tesla for the ad, but posting about it does usually benefit the brand anyway, and this sort of shadow advertising is a key metric in helping brands to truly determine how they're viewed online.

On the other hand, CreatorIQ focuses on paid interactions where brands enlist influencers to sell their products and prioritizes data on direct activations.

Conor Begley

"The companies are very complementary. Together, this will enable us to give brands and agencies a 360-degree look at both paid and earned influencer marketing programs," Vaks said in an email.

Begley said the company was looking to raise funding but instead opted to take the buyout, because it'll give Tribe Dynamics access to areas of marketing intelligence it wasn't previously tracking, as well as support to grow.

Tribe Dynamics tracks the metrics of fashion and beauty campaigns, but it doesn't have a hold on other industries like automotive, publishing, entertainment and gaming.

Tribe Dynamics will operate under its existing brand, as will CreatorIQ, but going forward the teams will share technology and staff as they continue working remotely. The two have about 500 customers combined, Vaks noted. CreatorIQ's database of influencers is about 23 million strong.

"Looking at CreatorIQ, and specifically its position in the market, I believe that right now, it is the biggest both by revenue and by headcount," Begley said. "That was, frankly, part of the motivation, because as these things start to scale up, you get significant advantages around being number one… additional access to capital (and) better access to partnerships."

Grand View Research estimates the global influencer marketing industry this year is valued at $7.68 billion, and noted it expects the market to grow roughly 30% by 2028.

Begley argued that figure seems low and pointed to valuations of influencer-created brands that Tribe Dynamics tracks – like Kylie Jenner's Kylie Cosmetics, which was valued at $1.2 billion two years ago. Anastasia Beverly Hills, another influencer-helmed brand that Tribe Dynamics analyzes, was valued at $2.5 billion in 2018.

"If you actually think about the amount of value that's getting created by the businesses that are being counted," the overall industry valuation should be more, Begley posited. "I think it's actually much, much bigger… If you start to bake in the brands that these people are creating, it gets really big really fast."

CreatorIQ has raised roughly $80 million since its launch in 2014, and its biggest clients include Unilever, Disney and Sephora, which it'll add to Tribe Dynamics' growing portfolio of luxury retailers like Gucci, Coach and Dior and fast fashion brands like FashionNova and Gymshark.

Vaks said the deal gives CreatorIQ access to even more data, which positions it to become a more well-rounded player in the influencer analytics space.

"We're also looking forward to bringing Tribe's capabilities to a wider cross-section of industries like gaming and entertainment," Vaks said. "Influencer marketing measurement is something that will benefit every category, not just beauty and fashion."

https://twitter.com/samsonamore
samsonamore@dot.la
Fuel Innovation: 7 Unforgettable Team Building Experiences in LA
Image Source: Discover LA

In today's competitive business landscape, team building activities have emerged as a crucial tool for fostering a positive work environment, enhancing productivity, and crucially, improving employee retention. Studies have shown that such activities help employees feel valued, with one report indicating that 93% of those who felt appreciated were more motivated at work. Importantly, team building events may improve retention rates, as employees who feel connected to their colleagues and company culture are more likely to stay long-term. With these benefits in mind, let's explore some of the most engaging and effective team building activities available in Los Angeles.

Pickleball

Image Source: Modern Luxury Angelino

Pickleball is a fantastic team bonding activity because of the easy-to-grasp rules and gentle pace make it perfect for everyone, regardless of age or fitness level. The game thrives on communication and teamwork, as players must collaborate and strategize to outplay their opponents, boosting team cohesion. Plus, the lively, fast-paced action sparks friendly competition and laughter, creating a fun and spirited atmosphere that brings everyone closer together. Los Angeles boasts numerous pickleball courts that are easy to rent if you have your own equipment. If you need additional assistance organizing your pickleball outing, there are plenty of full-service companies ready to handle every detail for you.

Resources: Pickle Pop, Corporate Pickle


Escape Room

Image Source: The Escape Game

Escape rooms are a great way to build camaraderie. They require participants to work together, combining their problem-solving skills and creativity to overcome challenges and puzzles. The immersive and time-sensitive nature of escape rooms fosters collaboration and communication. Additionally, the shared experience of tackling complex tasks and reaching a common goal helps build trust and foster positive emotions among colleagues.

Resources: The Escape Game, 60Out


Day Trip to Catalina Island

Image Source: Love Catalina

Catalina Island is a perfect day trip for a team because it provides a break from the usual work environment, allowing team members to relax and connect in a new setting. Shared experiences during the trip, such as exploring new places and participating in fun activities, help build stronger relationships and foster a sense of camaraderie. There are numerous team-building activities such as an arboreal obstacle course, an island tour, scavenger hunts and more.

Resources: Catalina Island Group Activities


Top Golf

Image Source: Topgolf

Topgolf is an excellent team building event because it provides an inclusive, relaxed atmosphere that accommodates players of all skill levels, fostering personal connections and improving team morale. The unique blend of competition and entertainment creates an ideal setting for building trust, enhancing communication, and revealing hidden skills among team members. Additionally, Topgolf offers structured team building packages with guided activities, discussion prompts, and lessons on culture, change, collaboration, and strategy, making it a versatile and effective platform for strengthening relationships and boosting overall team performance.

Resources: Topgolf El Segundo


SoFi Stadium Tour

Image Source: Discover LA

A SoFi Stadium tour offers a unique, behind-the-scenes experience of one of the world's most advanced sports venues, allowing team members to explore exclusive areas like premium suites, team locker rooms, and the player tunnel together. The tour provides a shared, memorable experience that can foster camaraderie and spark conversations among team members, regardless of their interest in sports. Additionally, the stadium's state-of-the-art features and impressive architecture can inspire creativity and innovation, while the group setting encourages interaction and collaboration, making it an engaging and enjoyable activity for teams of various sizes and backgrounds

Resources: SoFi Stadium Group Tours


Corporate Volunteering

Image Source: L.A. Works

Volunteer work serves as an excellent team building activity by uniting employees around a shared, meaningful cause, fostering a sense of purpose and collective accomplishment. It provides opportunities for team members to collaborate in new ways, often revealing hidden strengths and leadership qualities that may not be apparent in the regular work environment. Additionally, engaging in community service can boost morale, enhance the company's reputation, and instill a sense of pride among employees, leading to improved workplace relationships and increased job satisfaction.

Resources: Habitat for Humanity, L.A. Works, VolunteerMatch


Corporate Improv Sessions

Image Source: Improv for the People

A corporate improv class encourages spontaneity, creativity, and quick thinking, skills that are valuable in the workplace. It promotes active listening and collaboration, as participants must work together to create scenes and respond to unexpected situations, fostering better communication and trust among team members. Additionally, the playful and often humorous nature of improv helps break down barriers, reduces stress, and creates a shared positive experience that can improve team morale and cohesion long after the event.

Resources: Improv-LA, Groundlings, Improv for the People

🎬 Paramount and Skydance Are Back On
Image Source: Paramount

Happy Friday Los Angeles! Hope you all had a fantastic Fourth!!

🔦 Spotlight

Paramount and Skydance Media have rekindled talks to merge after negotiations abruptly halted in June. The proposed deal, contingent on approval from Paramount’s board, aims to combine Paramount’s extensive media holdings—including CBS, MTV, and Nickelodeon—with Skydance’s film expertise showcased in hits like "Top Gun: Maverick." This merger signals a potential transformation in the media landscape, positioning the new entity to compete more effectively amid challenges from streaming services and the decline of traditional cable TV.

Led by Shari Redstone, Paramount’s controlling shareholder via National Amusements, the deal represents a pivot towards revitalizing Paramount’s strategic direction amidst financial struggles and shareholder concerns. The involvement of major investors like RedBird Capital Partners and David Ellison underscores the financial backing aimed at stabilizing Paramount’s operations and addressing its $14 billion debt burden. Importantly, the agreement includes provisions to protect National Amusements from potential legal challenges, addressing previous hurdles that stalled earlier negotiations.

The deal also includes a 45-day period for Paramount to explore alternative offers, highlighting continued interest from other potential buyers like Barry Diller’s IAC and media executive Edgar Bronfman Jr. This flurry of activity underscores the significant stakeholders’ interest in Paramount’s future and its potential as a key player in a rapidly evolving media industry.


🤝 Venture Deals

LA Companies

  • Sidecar Health, a startup that offers personalized health insurance plans to businesses that allow members to see any doctor and pay directly at the time of service, raised a $165M Series D led by Koch Disruptive Technologies. - learn more

LA Venture Funds


Download the dot.LA App

RELATEDEDITOR'S PICKS
Trending