Wondrlab, India’s largest platform-first mar-tech start-up, has acquired Opportune – a data-driven influencer marketing platform that uses its proprietary technology and creator network to drive influencer marketing with speed and accuracy. The platform has currently onboarded 300+ brands. With this acquisition, Wondrlab has widened its network by adding customised influencer marketing solutions for brands to its offerings.
A new era of democratic media consumption has emerged. Customers today, choose what they listen to and who they trust. 71% of retail purchase decisions are influenced by social media creators. 45% of social media users use social networks to research brands. 9 in 10 consumers trust word-of-mouth over other advertising forms. It is safe to say that data-driven influencer marketing is key to brands winning.
Talking about the acquisition, Saurabh Varma, Founder & CEO at Wondrlab said, “Opportune is aligned with our ambition of democratising the creator economy. The timing of this acquisition can’t get any better. The Global Influencer Marketing Industry is projected to grow to USD 24 billion by 2025. When you are building India’s only mar-tech network and not just an agency, a strong influencer marketing play is key.”
Kanishk Kanakia, Founder of Opportune, further added, “Opportune will empower brands with a comprehensive global creator network, speed up influencer discovery ten-fold and its campaign management dashboard will enhance employee productivity by 75%. The acquisition will help brands search, sort and filter influencers and create campaigns within minutes. Going forward, we will approach influencer marketing from a performance-driven, consumption-first lens. This will enable accurate measurement and optimisation of campaign performance.
Vandana Verma, Co-Founder and Managing Partner at Wondrlab, said, “We are heading towards an extraordinary expansion by building world-class technology and introducing customised solutions for brands. Wondrlab is fortifying its position as India’s leading mar-tech network by providing its repertoire of clients with a proprietary platform and specialist influencer solutions.”
The good news is that global influencer marketing spends account for roughly 23% of the digital ad spend. About 50 million content creators globally can benefit from this. However, the bad news is that less than 3 million creators are monetising seriously. Democratising the influencer marketing space by providing a level-playing field for creators to collaborate with brands, is a ‘Wondrful Opportunity’ waiting to be capitalised on. Acquiring Opportune will not only help capitalise on this opportunity but will give Wondrlab the power to structure campaigns for brands based on the need of premium and mass influencers, all on the same platform.