- Croud has now made three acquisitions in 12 months
- The firm’s annual revenues now top £50m
- Born Social’s leadership team will stay in place
LDC-backed global digital marketing agency Croud acquired Born Social, the company announced on Tuesday.
The purchase of the global social media agency is Croud’s third acquisition in 12 months and brings its annual revenues to more than £50 million ($60 million; €57 million) in its latest financial year, their highest ever.
Born Social provides creative, media, management and influencer services to brands such as Nando’s, Guinness and Primark. It has added new clients including Uber, Seedlip and Jägermeister this year. It was founded in 2012.
The six-strong leadership team of Born Social will stay on to run the business, which will retain its brand name but with the suffix ‘powered by Croud’.
Croud now employs 450 people across the UK, US, Europe and MENA. It has a global freelance network of over 2,500 people.
“Croud’s acquisition of Born Social adds market-leading social, creative and influencer services to enhance its offering as a leading digital marketing agency,” said David Andrews, partner at LDC.
Croud’s previous two acquisitions were luxury digital marketing agency VERB Brands in November 2021 and data and analytics company impakt Advisors in December.
Mid-market private equity firm LDC invested in Croud in 2019 to support the management team’s plans to expand internationally, invest in its proprietary technology and services, and explore complementary acquisitions.
LDC is headquartered in London and is a subsidiary of Lloyds Banking Group.