A Locaweb (LWSA3) announced on Tuesday, 5, the purchase of Squid, a platform that connects digital influencers to companies that want to use them for marketing campaigns. The acquisition value was 176.5 million reais.
Squid’s founding partners, Felipe Oliva and Carlos Tristan, will remain in the company along with their employees. Depending on the goals achieved, the amount paid for the acquisition could be even higher.
In an automated way, Squid identifies, recruits, manages and makes payments from digital influencers, helping companies from all segments to drive the results of their campaigns and increase their sales.
According to a relevant fact disclosed by Locaweb, Squid has a base of more than 100,000 influencers, which produced more than 300,000 contents in 2021. The company’s annual recurring revenue is 100 million reais, “with triple-digit growth” this year.
“The way people interact with brands has changed a lot over the last few years. Who has never bought a product or contracted a service after seeing someone they admire and follow on digital channels talking about it or simply using it?” Fernando Cirne, president of Locaweb. “Squid is bringing to the Locaweb group the opportunity to democratize this content market in Brazil together,” he says
For the technology giant, the acquisition should generate synergies, with the possibility of offering the Squid tool to its more than 600,000 customers, between large and small companies. According to Locaweb, content creators themselves will be able to start using its services, such as the e-commerce platforms and management of social networks, payment methods, websites and domain.
“In order to take the next steps and be able to work on the long tail, we needed a strategic partner, who would give us the autonomy and structure to follow our plans. Several companies and funds sought us out, but since the first conversations, we were sure that Locaweb would be the best option for us,” says Felipe Oliva, co-founder and president of Squid.