Jon Waterman, CEO of Ad.net, a performance-based marketplace marketplace that helps Fortune 500s and some of the biggest brands acquire new customers, signals confidence in the long-term growth of Bidwise. After investing half a million just 4 months ago, the company wants to further invest additional $1.2 million in the vertical advertising marketplace known for connecting online retailers with relevant audiences and publishers.
Opportunity in insurance advertising
The move is posed to propel Bidwise in further growth and acquisitions of its media division. The company is poised to grow its clout and influence in the insurance industry (particularly Ohio home insurance), innovative technologies such as solar panel systems, as well as to keep the pulse in the millennial home buying trends.
Jon Waterman, an influential serial entrepreneur and pioneer in paid search, spoke of his confidence in the direction Bidwise is growing towards. From initially investing half a million in 2020, Waterman and Ad.net are in the final stages of negotiations to put an additional $1.2 million which will help fund the additional vertical growth needed by Bidwise to execute its vision to become the leading advertising platform in the country.
In fact, Inc Magazine recognized Bidwise as one of the top 5000 fastest-growing private companies in America. In 2019, it ranked 341 among other companies as it generated $2.1 million and had a three-year growth rate of 1,354%.
In an exclusive interview with Jerusalem Post, Jon Waterman said:
"I see further growth in the media industry, particularly in the insurance vertical. The global insurtech market revenue was valued at 5.48 billion in 2019, and is expected to reach $10.14 billion by 2025, so there's plenty of opportunities in the space. With Bidwise establishing itself as one of the leaders in the vertical advertising platform, I am thrilled to support the company in its journey towards one of the leading players in this industry."
Bidwise, a fast-rising advertising platform, looks to expand into the insurance advertising market. The company headed by Simon Vielma and Oscar Mederos, are convinced that investing half a million dollars into this sector of the advertising market presents more growth opportunities for the company and its clientele.
Two great minds finding success in the online shopping industry
Bidwise initially focused on the online shopping sector. It particularly found success in the industry as the platform allowed its clients to increase their sales through hyper-targeted ads.
The robust performance of the platform led to the securing high-profile clients with the most notable ones including El Corte Inglés. From there, the company zoomed in on various opportunities, from online education to personal finance.
Oscar Mederos, a Cuban-born visionary entrepreneur whose family is originally from Santander, Cantabria teamed up with Simon Vielma when both saw a massive market gap in the advertising industry for retailers. The duo raised half a million dollars, and just four months in, are poised to raise additional $1.2 million to finance further expansion of its media platforms.
From then on, their visionary leadership allowed Bidwise to gain massive traction as well as secure clients from various industries. As a result, Bidwise has been growing exponentially and has been actively expanding to more promising sectors with huge potential, such as the plus size clothing industry.
It was only recently that the plus-size clothing sector's potential was recognized. Some big-ticket brands remain reluctant to expand to this venture but the ones that did have felt the benefits of their investment.
Bidwise has helped several leading brands to maximize their sales in this sector. The company now looks into aggressively expanding into other industries known for their tremendous potential for growth.
Expansion to the insurance market
The company has been gaining momentum in its incursion into the insurance and personal finance markets, positioning itself as an alternative to NerdWallet. Aside from its sound strategy and technologically advanced systems, the company's service reputation has allowed a gradual rise in paying clients as well as paved the way for its expansion into the insurance market, particularly focusing on car insurance.
It is also worth noting that it has secured Aurgi and Motortown into its pool of paying advertisers as proof of its continuing success. The company has recently dedicated the initial $500,000 fund to expand to the insurance market, and poised to raise additional $1.2m to fuel its growth in the insurance and finance advertising industry.
With the widespread information about the effects of COVID-19 and the global number of fatalities that it caused, one would think that the demand for health and life insurance policies would automatically rise. However, this is not necessarily the case.
Just as with any product or service, a sound means to advocate and communicate with the target clients must be implemented. This is where Bidwise comes in. Its systematic approach to advertising could be just what the insurance industry needed to thrive in this coming year.
Innovative and efficient advertising
What gives Bidwise the edge over its competitors is its intuitive connection with the potential customers of its clients. Using state-of-the-art technology, the client's products are introduced at the most appropriate time to would-be buyers.
This innovative approach takes the "target audience" concept to another level. Traditionally, social demographics are used as the basis of most advertising firms. With Bidwise's timing-based concept, the right people are made aware at the right time.
Online users are presented with the clients' products when Bidwise's programs determine that they are on the verge of making a transaction. This eliminates customers that are merely looking on and focuses on users that are genuinely interested to make a purchase.
They are led directly to the clients' website where purchasing is only a few clicks away. This game-changing concept of Bidwise leads to a higher purchase ratio for its clients' website visitors.
Regardless of whether officials will manage the pandemic in the coming months, the awareness and need for having insurance cannot be stressed enough.
Bidwise's move to expand its services to the insurance market is very timely and adequate. With the expected services out of the company, it will probably provide its clients and their consumers with a win-win scenario that is much needed to thrive in the post-pandemic era.