Chango (company)

Chango, Inc. was a Canadian-based online marketing company with a focus on search retargeting and programmatic marketing. The company was founded in 2008, acquired by Rubicon Project in 2015 for $122 million,[1] and closed down in 2017.[2]

Logo of Chango, Inc.

History

The company was founded in Toronto by Chris Sukornyk along with Mazdak Rezvan and Dax Hamman. In 2012, Chango appointed Paul McIntyre to lead its Platform Solutions group[3] and hired Keith Lorizio as chief revenue officer.[4] Chango was recognized in Deloitte's Technology Fast 50 program in 2014, ranking first overall in Canada with a growth rate of 69,800%.[5]

Rubicon shut down Chango in 2017 stating that the company did not meet performance expectations.[2]

Funding

In June 2010, Chango raised $1.4 million in Series A funding from investors including Metamorphic Ventures, iNovia Capital and Extreme Venture Partners.[6] The company secured a second round of funding in February 2011,[7][8] followed by a third round of $12 million in funding in November 2012.[9]

Product

Chango was an early adopter of search retargeting. The company served display ads to potential customers based on their recent search activity. By the first quarter of 2013, Chango was working with 75 of the top 500 internet retailers.

Chango claimed to be able to capture the recent search activity of hundreds of millions of users, using anonymous cookies. The company also re-targeted display advertisement to users if they matched a specific campaign. Display advertisements were purchased through a demand side platform (DSP) that operated across multiple ad networks, such as appnexus, rubicon and double click.

Chango was a member of the Network Advertising Initiative (NAI). Chango and its partners offered search retargeting campaigns, and consumers had the option to opt out of them. The company said that it did not capture personally identifiable information (PII).

In December 2012, Chango Inc. integrated directly with Facebook to bring search intent data to social media targeting.[10]

Chango Inc released the industry's first programmatic marketing platform, which combined data management platform (DMP) with demand side platform (DSP) capabilities.

References
  1. "Rubicon Project Acquires Retargeter Chango For $122M | AdExchanger". 31 March 2015. Retrieved 2015-09-23.
  2. O'Reilly, Lara. "Rubicon Project is shutting down the division associated with its $122 million Chango acquisition". Business Insider. Retrieved 2019-05-25.
  3. Staff (April 30, 2013). "Chango Continues Talent Acquisition, Adds Leaders From Disney, Facebook, Dotomi, Pubmatic, Google, Exelate". Benzinga.
  4. Fraser, Jeff (September 22, 2014). "Chango hires former Microsoft sales VP Keith Lorizio". Marekting mag.
  5. "Improved access to capital and good valuations keep technology companies in Canada". Deloitte. 2014-11-13. Archived from the original on 2019-04-06.
  6. "Got Funds? Foursquare, Click Forensics & Chango See Big Bucks". Adotas.com. 30 June 2010. Retrieved 2011-10-28.
  7. "Chango Raises $4.25M To Bring Search Targeting To Display Ads". TechCrunch. 2011-02-01. Retrieved 2011-10-28.
  8. "Chango CEO Sukornyk On New Funding And Search Retargeting Momentum". Adexchanger.com. 2011-02-03. Retrieved 2011-10-28.
  9. "Newswire Services".
  10. "Newswire Services".
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