Tuesday, September 29, 2020

Social Native Buys Olapic

Los Angeles-based Social Native, which operates an online marketplace which helps brands source visual content says it has acquired Olapic, a service focused on user-generated, influencer, and short-form video content for brands. Financial terms of the acquisition were not announced. Social Native said that Olapic will operate as a division of the company. The firm says it has "taken a strategic step toward consolidating the user-generated content space" with the move. Social Native is led by founder and CEO David Shadpour; the company's backers include OVC Partners, the venture capital investment firm led by Hemi Zucker, the former CEO of J2 Global. Hinting at the acquisition plans, Social Native pointed out that Zucker was responsible for over 170 acquisitions while he was CEO of J2 Global; Zucker sits on the board of Social Native. Other investors at Social Native include SoftBank Capital, plus angels Jeff Ragovin and Eytan Elbaz.