EXOGROUP Takes Majority Stake in Affiliate Network TORO Advertising
EXOGROUP today announced it is now the majority shareholder in TORO Advertising, after the two companies came to an agreement for an undisclosed amount.
The investment deal ensures TORO Advertising co-founders José (CEO) and Javier Chacón (COO) will remain on board as shareholders and directors and will continue to run the business.
EXOGROUP will offer a €1 million first round of investment to help grow the existing team, attend international tradeshows and develop new affiliate platform technologies. Further operational support will be provided through EXOGROUP’s finance, human resources and marketing departments.
The company generates revenues through its performance affiliate marketing platform where advertisers can generate sales, leads and clicks across a wide range of entertainment genres and exclusive product offers.
The TORO Advertising network serves 2.3 billion impressions per month to more than 2,000 websites, blogs and social networks in over 90 countries in Asia. TORO Advertising’s client list includes well known brands such as Adeslas, Sanitas and William Hill.
Benjamin Fonzé, founder and CEO of EXOGROUP, commented: “We welcome TORO Advertising to our group of companies to join ExoClick, EXADS, AdSecure, MobileCashout and Playfulbet. EXOGROUP has developed a wide range of skills in the digital world, with a focus on online advertising.
“We have always considered that it would be strategic to have an affiliate network as part of the group, but we didn’t want to create one from scratch and it took us over four years to find the right partner in TORO Advertising. They were looking for an investor to take the company to the next level, and they had exactly the profile that we were looking for.
“We are going to invest very heavily in the company and our goal is to make TORO Advertising one of the top affiliate networks in the world.”
José Chacón said: “We chose EXOGROUP as our investor because there is a lot of affinity between our two companies. Uniting with EXOGROUP allows us to better the services we currently offer, greatly improve our technology and platform tools and expand our market share.
“In 2019 our objectives are to grow our market presence in North America and some European countries and in the long term enter into the Chinese market.”