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Rokt's Recent Surge: Valuation and Leadership Change

In a remarkable development, Rokt, the worldwide frontrunner in ecommerce, has announced a major secondary transaction that has raised its valuation to an astounding $3.5 billion. This increase highlights the company's strong position within the competitive landscape of digital commerce. The transaction, estimated at around $335 million, drew considerable interest from both new and existing investors, including prominent firms such as Tiger Global Management, Square Peg, Barrenjoey, and SecondQuarter. Board members like John Ho of Janchor Partners, along with Terry Bowen and Karen Katz, also participated in this investment.

A Trajectory of Growth

Bruce Buchanan, CEO and co-founder of Rokt, expressed excitement about the company's growth, stating, "Rokt has delivered exceptional growth since launching 12 years ago, with a revenue trajectory that continues to accelerate. This year, we are on track to achieve 43% growth year-over-year, reaching $600 million in revenue." Rokt's impressive performance is attributed to several factors, including the success of its ecommerce products, the introduction of Rokt Pay+, and strong contributions from its international operations and small to medium-sized business sectors through AfterSell.

Moreover, Rokt invested over $60 million in its predictive technology, the Rokt Brain, an AI and machine-learning engine designed to enhance customer relevance. This initiative resulted in a 28% improvement in relevancy, signifying Rokt's commitment to providing exceptional value to its stakeholders.

Investor Sentiment

Griffin Schroeder, a Partner at Tiger Global, acknowledged Rokt's value, remarking, "Rokt is a trusted partner to a growing roster of clients worldwide. We're pleased to increase our investment as they continue to deliver for their customers." This sentiment resonates across the investment community as Rokt has exhibited a consistent ability to maintain profitability while expanding its revenue base tenfold over the past six years. The recent transaction has also enabled the company to offer over $100 million in liquidity to employees and early investors, further solidifying its appeal in the investment market.

New Board Member

In addition to the financial milestones, Rokt is thrilled to announce the appointment of Anita Sands, Ph.D., to its Board of Directors. Dr. Sands, a respected figure in the finance and technology sectors, has an extensive background that includes roles as Group Managing Director and COO at UBS Wealth Management Americas. She currently serves on the boards of several public and private companies, including ServiceNow and Nubank where she holds the position of Lead Independent Director. As Dr. Sands stated, "Rokt is transforming ecommerce by enabling businesses across various sectors to unlock new revenue opportunities. I'm thrilled to join the board at such a pivotal moment and work closely with the leadership team to propel the company forward."

Rokt's Global Impact

Rokt's vision is to revolutionize ecommerce by delivering real-time relevance precisely when it matters most, connecting 400 million customers and facilitating over 6.5 billion transactions globally. Their unique partnership model ensures that an impressive $7 out of every $8 is returned to partners, enabling sustained growth and collaboration. With its headquarters in New York City, Rokt maintains offices in ten strategic global locations, serving a diverse client base across North America, Europe, and the Asia-Pacific region.

In conclusion, Rokt's substantial investment, impressive growth trajectory, and bolstered leadership team position it well for future success in the fast-evolving ecommerce landscape. For more information on Rokt and its innovative solutions, visit Rokt.com.