Betapond rebrands as StitcherAds, selected for incubation by Facebook

23 May 2014

Irish software start-up Betapond has rebranded as StitcherAds and has been selected by social media giant Facebook to complete the pilot Preferred Marketing Developer Ads Incubator programme at Facebook’s Menlo Park, California, HQ.

The company, which last year raised €2.2m in a funding round led by the Ulster Bank Diageo Venture Fund, will focus on creating a product that will allow retailers to receive more consistent and measurable returns from their Facebook advertising investments.

StitcherAds charges on a monthly subscription basis rather than on a percentage of ad spend model.

Declan Kennedy, Conor Ryan and Peter Elger founded the company in 2009 in Waterford. Since then, the company has become one of Facebook’s leading developer partners and has secured significant new customers in Intel, Dove, Unilever, Marks & Spencer, Tourism Ireland, VisitBritain, Boylesports, The Met Office and Paddy Power, to name a few.

It was selected for incubation by Facebook at its headquarters following a competitive selection process and after proving that its method of analysing site behavioural data helps to place the most attractive offers in front of the correct consumers.

“StitcherAds’ focus on online retailers is a great example of how our PMD partner ecosystem is becoming more diverse, to better support the vertical-specific needs of advertisers,” said Michael Randall, Facebook’s global director of its Preferred Marketing Developer programme.

“StitcherAds’ engineering culture has a lot in common with Facebook’s own and we were delighted to work with them,” Randall said.

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John Kennedy is a journalist who served as editor of Silicon Republic for 17 years