iNovia Capital is very excited to officially announce the closing of a transaction that enables our friends at Chango to join forces with the wonderful team at Rubicon Project. This combined entity has the platform and resources to bring the next generation of intent marketing solutions to a global scale. It is a great outcome for everyone involved, particularly customers of both companies who can now enjoy the benefits of a truly data-driven end-to-end solution for all of their marketing needs.
Just as importantly, this deal represents a validation of the vision Chris Sukornyk and his team has laid out for the future of digital advertising. It is a vision Chris has been working on since 2008, when iNovia was first introduced to his nascent Toronto based startup. Over the years, Chango has done a remarkable job of anticipating the future, and reacting with extreme speed and focus. Once upon a time, terms like “real-time”, “programmatic” and “big data” were not normally associated with marketing companies. Chango was a pioneer in building out a world-class technology stack that enabled all those buzzwords to translate into real ROI for their customers.
This transaction also represents a benchmark of sorts for iNovia. Our firm played a leading role in all of Chango’s financing rounds from Seed through to Series B, as we continuously doubled down on a management team that consistently exceeded expectations. The likes of Dax Hamman, Mazdak Rezvani, Chad Leger, Keith Lorizio, Paul McIntyre, Ben Plomion, etc. are all-stars in their own right, all of whom coalesced around an opportunity to build Chango into a category-defining company. Special thanks must also go to Duncan Hill and Robin Axon, who did much of the heavy lifting in the early days when Chango was just a couple of mild-mannered guys camped out in the back of their offices. We are proud to stand behind all of them in their success to date, as well as enamored with the possibilities that now lie ahead at Rubicon Project.
On that note, we warmly welcome Frank Addante, Gregory R. Raifman, Todd Tappin, and the rest of the Rubicon Project team to the iNovia family. One of the things that attracted us the most to this combination was their fierce commitment to maintaining a strong company culture. Chris and his colleagues have always emphasized the long-term importance of investing in people and products, and we believe the leadership team at Rubicon Project shares in this ethos.
If there is one key takeaway from this journey that I can share, it would be that success is not a function of capital raised, press clippings, or unadulterated hype. More often than not, it is a result of a group of talented people who put their egos aside in order to build something that matters. Of course, Chango has been on a rocket ship trajectory the last few years – and many well-deserved accolades have followed. However, from Day 1, Chris and his team focused on building an organization where employees were respected, their work was valued, and rewards were shared. It’s been a pleasure to watch a team of such hardworking, intelligent and driven individuals execute at such a high level without worrying about personal plaudits. Chango is a true testament to the notion that nice guys (and gals) do finish first.
Congratulations to all! Thank you for letting us be part of your story.
The iNovia team
For more information, see the official announcement : Rubicon Project Completes Acquisition of Chango