MITX - Massachusetts Innovation & Technology Exchange


December, 2012

Nanigans plots global expansion in 2013 amid growth in Facebook ads

Boston-based Facebook ad software firm Nanigans expects to open its first international office, in London, during the first quarter of 2013 and may raise venture funding next year after growing largely through profitability so far, CEO and co-founder Ric Calvillo said in an interview.

The company aims to provide the easiest and most lucrative way for companies to manage their ad buying on Facebook (Nasdaq: FB). With a focus on serving e-commerce and gaming companies, Nanigans offers users Web software to place bids on Facebook ads, paired with technology that automatically boosts winning ads and ditches losing ones.

The company has grown to a staff of 80 since its launch in 2010, despite only raising $3.7 million in venture capital - and the firm has "used very little of it," Calvillo said. The company's headcount is up from 34 at start of this year, and all but 10 of the staff members are located in Boston.

Nanigans' growth led it to move into a new 12,500-square-foot office on State Street in mid-November, doubling the size of the firm's previous office on Tremont Street.

The company may consider raising new funding in 2013 to "step it up another notch," Calvillo said. Previous backers have included Avalon Ventures.

Hiring in 2013 may include doubling the firm's headcount, with many of those hires in Boston, Calvillo said.

Along with strong growth in e-commerce, Nanigans sees an opportunity to attract more gaming business amid the growth of mobile advertising on Facebook, he said. The firm has more than 100 advertisers as customers including T-Mobile, Wayfair, Zynga and Gilt Groupe, according to the firm's website.

Source: BBJ
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