Kigo, an Augeo subsidiary, acquires Entertainment® to advance Open Loyalty™ innovation & elevate digital offer experiences
ST. PAUL, Minn., Dec. 12, 2023 /PRNewswire/ -- Augeo, a global leader in engagement platforms, announced today that its digital asset technology subsidiary, Kigo, has acquired America's most trusted offer network, Entertainment®, from Cardlytics, Inc. (NASDAQ: CDLX).
As Augeo marks its 18th consecutive year of growth, nearing half a billion in annual revenue, the acquisition advances Kigo's mission to transform loyalty engagement through dynamic digital experiences. Entertainment brings strong merchant relationships across major offer categories, experienced sales and technology teams, as well as tens of thousands of value-rich, hyper-local and national offers. The combination means Kigo is positioned to offer more personalized, localized, relevant rewards delivered seamlessly through its proprietary digital asset delivery system and industry-leading universal loyalty wallet technology.
By tokenizing rewards or incentives, Kigo has reimagined how people will engage with and experience offer content. Rewards that had static value in the past can be dynamically configured to increase engagement and create more compelling brand experiences. Incentives delivered to one party can now be shared or gifted to others, expanding brand impressions and customer acquisition opportunities.
"The integration of Entertainment into Kigo and the overarching Augeo engagement ecosystem is instrumental in driving continued growth and transformational innovation for our clients and partners," said Augeo Founder and CEO David Kristal. "It's all about expanding opportunities for clients to elevate engagement with customers, employees, members or fans. By digitally reimagining the delivery of rewards through universal loyalty wallet technology, loyalty programs become more enticing and compelling for consumers."
The Kigo platform, enriched with Entertainment offer content, will enable incentive solutions to boost current rewards with deeper value and personalization on a local and national level. "A simple and powerful new way to deliver offer content and reward redemptions, powered by the Kigo platform, creates experiences that drive higher engagement versus transactional outcomes," said Kigo CEO Peter Schultze. "Delighting people with new ways to receive, unwrap, experience and share offers will significantly extend impact and reach for brands. New possibilities for surprise airdrops, gamified value delivery, shareable rewards and cross-brand collaborations are all part of the core reason we are excited to bring Open Loyalty™ solutions to more organizations."
Entertainment GM Pam Langdon noted, "People know Entertainment and have benefited from our extensive offer content for over 60 years. Combining with the technology and team at Kigo was a natural complement for us as we continually seek to bring the most innovative, valuable offer content to people worldwide."
Valor Siren Ventures participated with Augeo as a source of funds for the acquisition. Valor and Augeo have partnered together in the past and enjoy a growing and highly productive partnership.
Needham & Company served as financial advisor and Alston & Bird LLP served as legal advisor to Cardlytics on the transaction.
About Augeo
Augeo is a global leader in engagement platform technologies and data-driven experiences that foster people connections and cultivate brand advocates worldwide. Utilizing proven strategies and innovative technologies, we elevate engagement and strengthen relationships for our clients through flexible and scalable solutions in Engagement, Experiential, Social Activation, Loyalty and Digital Asset Experiences.
With more than 45 years of experience, Augeo serves hundreds of clients including over 70 Fortune 500 companies, representing millions of people across the globe through our engagement solutions. Our mission is inspiring people to achieve more—one interaction, transaction and experience at a time.
For more information, visit augeomarketing.com.
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About Kigo
Kigo, a subsidiary of Augeo, is a digital asset technology company pioneering a new era of Open Loyalty™. Built by a team of loyalty leaders and blockchain innovators, Kigo's platform and industry-leading universal loyalty wallet technology enable companies to expand customer and employee engagement through new forms of digital rewards and shareable experiences powered by blockchain.
For more information, visit Kigo.io.
About Entertainment®
For 60 years, Entertainment® has been the leading provider of unbeatable local discounts throughout the U.S. and Canada. Consumers enjoy doing more for less cost while supporting local businesses in the community. Throughout the years, consumers have saved over $22 billion through Entertainment.
For more information, visit Entertainment.com.
About VSV
The Valor Siren Ventures (VSV) mission is to be the leading innovation engine and investor in early-stage food, food technology, retail, retail technology and sustainability investing. Rooted in Valor's history of food and retail technology, Valor believes there is an opportunity to develop a new model for venture investing with VSV. Our team aspires to create value by generating differentiated investment opportunities, applying our intellectual capital and accelerating the growth of portfolio companies through operations assistance in scaling.
For more information, visit valorep.com/valor-siren-ventures-vsv.
SOURCE Augeo
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