Sourcepoint Acquires RedBud to Provide Deeper Insights for Media Ecosystem
Sourcepoint, the privacy compliance platform of record for the digital marketing ecosystem, announces the acquisition of RedBud, a UK-based software technology firm, to provide deeper insights for buyers and sellers of media and data. The acquisition of RedBud’s technology stack and its exceptional team of advertising and privacy experts will uniquely position Sourcepoint to become the most fully-featured data privacy, compliance, and consent management platform focused on the advertising and marketing technology markets.
In today’s data-driven and increasingly privacy-conscious world, data ethics is critically important, yet the ability to understand the privacy practices of partners in a scalable and granular way has been a challenge for those in the media ecosystem. RedBud’s scanning and analytics software solution, DIAGNOSE, provides a comprehensive approach to vendor assessments and performance monitoring.
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This acquisition will level the playing field for publishers by providing them with the tools to engage with users on data and privacy, as well as complete visibility into any hidden activity on their properties that exposes them to privacy and revenue risks. For brands, the acquisition of RedBud will help them create a comprehensive repository of every data processing instance across different user touchpoints, such as cookies, trackers, or fingerprinting. The technology highlights privacy blind spots for advertisers and how they can be fixed. The insights into both privacy compliance and performance issues, coupled with a customizable technology solution that resolves compliance issues for publishers and brands, will enable enhanced monetization and a more sustainable ecosystem.
Founded in 2018, RedBud was conceived to improve digital advertising by demystifying advertising technology fragmentation for publishers. Its proprietary scanning technology emulates simple and complex user journeys on websites and captures all content, visible or not, that feeds either directly or indirectly into a digital property. Its platform scans for and monitors privacy vulnerabilities, and provides benchmarking so companies can continuously measure their privacy health. Co-founders, Chloe Grutchfield, and Rhys Denny will join Sourcepoint as product and sales leaders, respectively.
“The acquisition of RedBud is a crucial step towards facilitating stronger digital citizenship for publishers, advertisers, and all ecosystem players,” said Ben Barokas, Sourcepoint CEO. “Historically, media sellers have lacked visibility into third-party data processing activities on their properties; the RedBud team have been leaders in providing publishers with much-needed transparency. With the integration of their vision and exemplary product, and the additions of Chloe, Rhys, and the team, Sourcepoint will help level the playing field for publishers and help brands ensure that their media spend is not only compliant but compatible with their approach to consumer data privacy.”
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“Because the regulatory environment—and consumer attitudes towards privacy—are evolving in nuanced and specific ways, it’s incredibly important for media owners and buyers to have mutual visibility into market standards,” said Chloe Grutchfield, RedBud co-founder. “RedBud’s diagnostic tools are a natural complement to Sourcepoint’s compliance platform. We are thrilled to join forces to continue to further our shared vision of a more transparent and sustainable media ecosystem for the benefit of publishers, advertisers, and consumers.”
“We’ve had incredible success working with RedBud to help resolve privacy and performance issues on our properties; Sourcepoint has been invaluable to help us create more transparent value exchange with our audience. Both companies offer truly standout services and possess a deep understanding of publisher challenges. We are excited to witness this acquisition,” adds Richard Bailey, Business Operations Director at IDG.
“It’s great to see Sourcepoint and RedBud join forces and provide further support to publishers at a time when privacy and consent are such a focus for our industry. Working with Sourcepoint’s consent management platform we’ve been able to build trust and create better experiences with our audiences. This coupled with RedBud’s technology will provide us with a deeper understanding of any revenue or privacy risks, which we wouldn’t be able to find anywhere else,” comments Daniel Powell-Rees, Revenue Operations Director, Dennis Publishing.