By Mobile Guru
I have often written about the proliferation of mobile and smart devices and how there is a paradigm shift in how advertisers and marketers are leveraging the medium in order to facilitate a one on one impression with consumers. While statistics indicate over $37B will be spent on mobile advertising by 2016, nobody until now has successfully closed the loop and married an m-commerce solution with mobile advertising and marketing.
On Friday, Spindle Mobile (SPDL) announced the acquisition of MeNetwork. The MeNetwork is another early development stage company on the brink of exploding onto the mobile scene. The MeNetwork provides aps for both Apple (AAPL) and Android devices that allow consumers to look for mobile deals with local merchants. In the last few months they have expanded to 84 cities in the United States and 20 markets in Europe and they are just getting rolling. The acquisition of MeNetwork will enable the combination of Spindle’s mobile payment platform and MeNetwork’s mobile advertising platform to deliver a full function mobile ecosystem offering bringing mobile payments, advertising, and a new mobile community capability to market, in a white label brandable solution.
The combination of Spindle and the MeNetwork will also reunite some highly respected industry veterans from First Data Corporation. Bill Clark, President of Spindle brings over 20 years experience in the payment space. Mr. Clark served as General Manager of Wireless Products, Director of Emerging Technology, First Data Merchant Services and First Data Resources. During his 17 year tenure he pioneered the delivery and sales of emerging technologies over a wide range of markets, including: Internet banking, electronic bill presentment, web based merchant services.
Joining Bill Clark will be Craig Page who brings over 30 years of technology experience to the new team. Craig is a seasoned professional with over 30 years of operations and technology experience across the world, and is an expert at creating and implementing business and technology strategies that exceed company objectives. As a key technology leader at Fortune 500 companies such as First Data Corporation, Citibank and Boeing, Craig led teams ranging from one to 3000 employees worldwide and managed budgets ranging from $1M to $800M. He was also named “Top CIO to Watch” by CIO Magazine while at First Data Corporation.
As Spindle Mobile/MeNetwork continues to roll out their products the real question is whether these guys intend to build an empire or take a quick exit via acquisition in the future? As often has been said, if you build it they will come, seems very appropriate in this case. More importantly, when you have seasoned industry veterans coming out of First Data and Bank of America payment services all going to work for a small company, there is generally a reason for it.
It’s often these experts who tend to know where the current technology gaps in the market exist and how to fill them. Build an infrastructure that allows merchants to easily use mobile advertising and quickly execute a safe and secure transaction via a mobile device and people will flock to your door. That is exactly what Spindle has now built via its acquisition of the MeNetwork. Not only should this lead to customers to come flocking but it also should soon draw investor attention as well.
The following is a guest post by fellow investor mobile guru, whose interest lie within the mobile revolution, start-ups & IPO’s, and intellectual property.