(Bloomberg) -- Pakistan's Walee Technologies Pvt., which connects social media influencers with companies, has acquired U.A.E-based Mirrorr.com, paving the way for entering the Middle East and North Africa regions.
The acquisition comes as companies and brands are shifting advertising spending online, including to influencers on social media platforms such as TikTok and Instagram. Brands are changing their strategies to cater to young consumers who make decisions based on trusted social profiles rather than company communication, said Najib Sabbagh, head of MENA region at Walee.
The startup acts as a marketplace for companies including Samsung Electronics Inc. and Reckitt Benckiser Group LLC to find and pay influencers to promote their brands. Walee has more than 100,000 influencers including rapper-comedian Ali Gul Pir and online celebrity Waliya Najib in Pakistan.
This acquisition gives the company an AI-driven analytics solution that detects and identifies brands and logos in content posted on social media channels, it said in a statement.
©2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
