As a further sign of its commitment as a growth partner, Klarna has acquired Stockholm-based content creator and retailer relationship facilitator APPRL. The addition of APPRL’s offer enhances Klarna’s marketing services, allowing retailers direct access to relevant content creators. The financials of the deal were not disclosed.
According to Business Insider, social commerce will account for $84 billion in retail sales by 2024 in the US alone. Add Bizrate Insights report that 48% of US Millennial and Gen Z shoppers have made a purchase through social channels, and the draw of APPRL gains ever more gravity.
The acquisition shouldn’t come as a surprise, however, as it’s a logical progression for the Swedish fintech. The firm has launched its comparison shopping service, a suite of AI-driven content creation tools, and just a few weeks prior, acquired social shopping platform HERO.
“As retailers continue to embrace influencer marketing as their growth engine, with an increasing focus on ROI, data and automation, APPRL has been seeing an exponential increase in demand,” commented APPRL CEO Martin Landén. “With APPRL's platform together with Klarna's scale, incredible talent, and portfolio of marketing services, we will be able to offer retailers an end-to-end influencer and performance marketing solution that they won't be able to find anywhere else.”
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