ASX-listed automotive classifieds business Carsales has bought a local advertising technology company, as it continues its push to nab a bigger slice of the advertising market from traditional media outlets.
Documents filed to the Australian Securities and Investment Commission (ASIC) show the $8.8 billion classifieds business has bought Publift, an Australian company founded by two former Google advertising executives, which helps online publishers generate ad dollars more effectively by using automated advertising technology.
Carsales has bought an advertising tech company.Credit:Tash Sorensen
The documents list Paul Barlow, managing director of Carsales Australia, and Davor Vilusic, co-lead of the media division, as the company’s directors. Publift and Carsales did not respond to requests for comment.
The new business is expected to sit within Carsales’ in-house media division, created last year, which was built to expand the classified business’ advertising clientele beyond the automotive sector. The division includes a range of advertising and data products and a strategic team that brands can use to discuss ideas. Carsales has claimed previously it can offer advertisers the same reach as Australia’s large news networks.
When Vilusic launched the media division with co-lead Vanya Mariani, he said it would be a “complementary service” that can be used by agencies and advertisers. Carsales made more than $300 million in the 2022 financial year from selling digital ads. It made $54.5 million from media last year (not dealer spend or ad sales), a segment which it wants to grow.
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The acquisition of Publift is just one part of a broader growth strategy for Carsales. The company bought US commercial truck and RVs listing business Trader Interactive last June, raising $1.2 billion to buy the 51 per cent of the company it didn’t own. Last month it launched a $500 million rights issue to increase its stake in Brazil’s Webmotors to 70 per cent from 30 per cent.
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