The founders and investors in Melbourne-based advertising technology company Trade Indy are toasting a $30 million payday, after one of its partners, Singapore-based Sqreem Technologies, swooped to buy it out.
Trade Indy’s Mark Rosenberg, Mike Robertson, Calvin Pinnegar and James Robertson are in the money after selling the company to Sqreem.The deal represents a significant win for the small group of executives, led by media sales industry stalwart Mark Rosenberg, who also double as Trade Indy’s investors. It has taken no venture funding, and has grown largely under its own steam since it was founded in 2014.
The company was founded by brothers James and Mike Robertson, who were joined by Mr Rosenberg in 2016. They owned most of the company before the sale, but product manager Calvin Pinnegar – who first dealt with Sqreem on joint product work – also has a stake.Sqreem describes itself as the world’s largest digital behaviour aggregator, and a “pure artificial intelligence” company.
“The AI is bringing in aggregated data that lets us target moments of interest, rather than individuals based on their own personal browsing history. It is less invasive, and our aim is to make advertising more of an informative utility as opposed to an invasive irritation.”