Mobile Majority $25M raised, Acquires Qualcomm’s Gimbal To Lead Mobile Ad Attribution Using Beacons w/ CEO Rob Emrich

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In Episode #679, Nathan interviews Rob Emrich. He’s a serial entrepreneur, currently involved in his latest venture as the founder and CEO of The Mobile Majority. He’s founded and served as chief executive at 6 startups in social ventures including Road of Life, which distributed as $70M dollar curriculum; BULX, which was acquired by Dealyard in 2011; and Boundaryless Brands, which was acquired in 2011 along with SpeakerSite. Know more about Rob at his website.

Famous Five:

  • Favorite Book? – The Goal
  • What CEO do you follow? – N/A
  • Favorite online tool? — Spark Email Client
  • How many hours of sleep do you get?— 8
  • If you could let your 20-year old self, know one thing, what would it be? – “Have fun”

Time Stamped Show Notes:

  • 00:40 – Nathan introduces Rob to the show
  • 01:26 – Rob just bought Gimbal and will use that name
    • 01:55 – They’re taking the name most especially because of the .com in Gimbal’s website
  • 02:15 – Rob believes that what drives success in online marketing is data
  • 02:58 – Most of Rob’s previous companies were in the e-commerce space
  • 03:22 – Mobile phone ends up being the bridge between the online world and the offline world
    • 03:31 – Rob was missing data regarding targeting and attribution
    • 03:46 – There’s no way to know if an offline campaign is effective
  • 04:36 – The technology Rob bought that has the data can now run campaigns and know that you were on that campaign
  • 05:05 – Offline behavior ends up becoming an incredibly strong signal of intent and is an accurate way to measure attribution
  • 05:21 – Gimbal uses Beacon
    • 05:37 – Beacons are usually a 2-flow energy and Qualcomm invested around over a hundred million dollars for the technology
    • 06:01 – Beacons are precise when working with GPS
  • 06:53 – Qualcomm spun out beacons in 4 other companies to develop the culture of innovation
    • 07:28 – When they spun out in 2014, it became a challenge for big companies to innovate
  • 08:20 – The valuation
  • 08:44 – The deal structure that Rob had with Qualcomm was a mix of different things: cash, debt and equity
  • 08:57 – Total funding from Mobile Majority was around $25M
  • 09:03 – Mobile Majority was launched in 2012
  • 09:38 – Rob has gone through things after his first exit
    • 10:05 – “I’m going big at this point”
  • 10:16 – Rob is currently 37 and has no kids
  • 10:33 – Team size is around 100
  • 11:20 – Primary line of business is essentially acting as a media and advertising operating system for large media companies
    • 11:41 – They target individual people
    • 11:44 – “We understand identity very, very well”
    • 13:09 – They were getting revenue share
  • 13:42 – When CBS creates content, that content generates users and Mobile Majority exposes them to more user data and will sell their operated properties
  • 14:30 – Mobile Majority is different from Outbrain because Mobile Majority’s ads are more targeted
  • 15:10 – Mobile Majority now has 10K end customers
    • 16:00 – Total advertising purchase range is between $10M-100M
  • 16:15 – Average percentage taken by Mobile Majority varies
    • 17:08 – Instead of charging towards content, Mobile Majority will only hit specific people who are on the list
  • 18:46 – The Famous Five

3 Key Points:

  1. There’s a lot of missed data in the offline world that is still not easy to track.
  2. Knowing and understanding your target audience is more effective and cost-efficient for you.
  3. Just go on with your life and have fun, create businesses while you still can.

Resources Mentioned:

  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Show Notes provided by Mallard Creatives