NEW YORK, Dec. 23, 2015 /PRNewswire/ -- Kargo, the leader in mobile brand advertising, announces the milestone of $100 million in annual 2015 revenue, an increase of 100% over the last year and more than 5,500% over the last five years. This is also Kargo's fifth consecutive year of profitability, reflecting the exponential growth of mobile advertising and Kargo's leading role in it.
Kargo provides major advertisers with a single source solution for buying, designing and delivering high-end mobile ad experiences across the world's top publishers. Kargo's high-end editorial alliance of 300+ world-class publishers (including Hearst, Bauer Xcel Media, CBS Interactive, DailyMail, Scripps, Vice and Vox) reaches about 140 million unique smartphone users, according to comScore. With its proprietary advertising automation technology and in-house creative studio, Kargo creates the most effective way for brands to engage with their audiences, especially as TV advertising continues to decline.
As a result, more than 200 leading brands (including Target, Procter & Gamble, Unilever, L'Oreal, T-Mobile and Verizon) rely on Kargo for hand-crafted mobile ad campaigns that can scale across multiple publishers at once and influence their key customers– particularly millennials, who increasingly use smartphones as their primary way of consuming news, entertainment and information.
In addition to its award-winning mobile creative, Kargo is also known for the highest quality distribution–ranking in the top 1% for ad effectiveness (brand safety, viewability, fraud) according to Integral Ad Science and Moat, two of the leading verification vendors for advertising quality.
"Achieving $100 million in annual revenue demonstrates that brands are quickly adopting mobile brand advertising and targeting their customers in the best editorial places. We solve the mobile editorial and creative problems, where Facebook and Google fall short," said Founder & CEO Harry Kargman. "At Kargo, we understand that quality in mobile matters – we're not just building technology for the world's top publishers and brands, we're creating state-of-the-art ad experiences crafted around consumer behavior."
Founded in 2003, Kargo employs more than 175 people across New York, Chicago, Dallas, San Francisco and Los Angeles with international expansion planned for 2016. Kargo is also the fastest growing self-funded advertising technology company, funded entirely through revenues. This year, the company expanded its leadership team significantly with the addition of Kargo's first CTO, Kartal Goksel, and first CMO, Terri Walter.
Mobile advertising represents a significant opportunity for brands and publishers: In 2015, both time spent and ad spend in mobile surpassed that of desktop, according to eMarketer, with mobile now accounting for more than half of all digital advertising spend. As audiences have moved to mobile, brand advertising has evolved with it, becoming one of the fastest growing segments in the mobile advertising category. BMO Capital Markets projects mobile brand display and video advertising to reach $17 billion in 2015 and grow to $42 billion by 2019, a 26% CAGR.
Kargo's explosive growth was recognized most recently by Crain's New York Business, which named Kargo one of the 50 fastest growing companies in New York, with an impressive 1,166 percent three-year annualized growth rate, and by Inc. magazine, which named Kargo to its 34th annual Inc. 500, an exclusive ranking of the fastest growing companies in the U.S.
Kargo is the leader in mobile brand advertising. Bringing together creativity, technology and quality, we empower advertisers to break convention and build connections with consumers on the most important screen today—the phone. Through our high-end editorial alliance composed of world-class publisher partners, as well as our proprietary advertising automation technology and award-winning creative studio, we enable brands and agencies to reach eight out of 10 smartphone users in the US with memorable, measurable mobile ad experiences. Kargo was just recognized by Crain's NY Business as one of the 50 fastest growing companies in New York, by Inc. Magazine as one of the 500 fastest growing companies in the US, and by Business Insider as one of the "hottest ad tech" companies of 2015. For more information, visit Kargo at www.kargo.com or @Kargo on Twitter.