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Mobile Dev Memo Podcast

Season 5, Episode 9: AdTech M&A and the business cycle (with Terence Kawaja)

Feb 26, 2025
Terence Kawaja, CEO of LUMA Partners and an influential advisor in digital media, delves into the AdTech M&A landscape. He discusses the slow fundraising in 2024 and how it relates to economic cycles. Kawaja highlights AI's role as a catalyst for mergers, the impact of the FTC’s evolving policies on tech acquisitions, and the surprising new buyers entering the AdTech space. He also shares insights on how small businesses shape major platforms and the promising future for competition and innovation within the industry.
47:45

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The digital advertising landscape is evolving with AI technologies driving efficiency and reshaping M&A activities, thus attracting significant industry interest.
  • Economic challenges like inflation and recession have slowed M&A in digital advertising, but new growth areas are sparking renewed optimism and strategic investments.

Deep dives

The Evolution of Digital Advertising

Digital advertising has witnessed a significant transformation, especially with the advent of programmatic advertising, which has allowed for increased efficiency and targeting. Leaders in the field, such as Terry Kawaja, emphasize the complexity of this environment, owing to its fragmentation and the multitude of business models involved. Created in 2010, Luma Partners was founded to address these complexities, believing that deep industry knowledge is essential for strategic advice. As this sector matures, it faces challenges such as fraud and high competition, necessitating consolidation for higher quality and efficiency.

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