The FPC Podcast

SummaryIn this episode, Andrew Casale, CEO of Index Exchange, discusses the groundbreaking innovations in Adtech, including the containerisation of the Bedrock DSP on the Index Cloud, and the future of open web ecosystems. Key insights include the impact of Index Cloud on cost reduction, speed, and performance, as well as the shift towards a more open, collaborative industry.Andrew closes the loop on what he told us last June: that the market needed to move past duplicative platform work and reprice infrastructure to near zero. Index Cloud is the productisation of that thesis and Bedrock, paired with it, is the first real-world proof that a small, focused DSP can listen to the entire internet at scale and compete on value-add rather than access to capital.Chapters00:00 Introduction to the FPC Podcast and Guests01:06 Recap of Possible and Index Cloud Announcement03:24 Understanding Index Cloud and Its Innovations07:05 Performance Improvements and Cost Reductions12:19 The Future of Ad Tech and Market Dynamics15:51 Turning Points in Ad Tech and DSP Opportunities20:59 Challenges in Live Sports and QPS Management25:17 The Role of Containerisation in Ad Tech30:00 The Open Internet vs. Walled Gardens34:48 The Future of Collaboration in Ad Tech Hosted on Acast. See acast.com/privacy for more information.

SummaryIn this episode, we discuss the evolving Adtech landscape, focusing on first-party data, cloud-native infrastructure, and innovations in streaming TV advertising. We explore how new technologies like containerised DSPs and attention measurement are shaping the future of digital advertising.Chapters00:00 Introduction to the AdTech Ecosystem01:28 The Evolution of AdTech Infrastructure03:53 The Rise of Containerised DSPs07:34 AdTech Innovations in Live Streaming09:53 Margin Compression in AdTech14:32 Investing in Innovative AdTech Solutions20:02 Technical Difficulties and Communication Challenges21:00 Investment Convictions in Ad Tech22:02 The Role of Bedrock in Ad Tech Innovation24:49 Cloud Computing and Data Privacy in Ad Tech27:51 The Importance of First-Party Data30:46 Lumen's Role in Attention Measurement34:02 Future Trends in Ad Tech and Closing Remarks Hosted on Acast. See acast.com/privacy for more information.

FirstPartyCapital and FirstPartyStudio discuss a new model for corporate innovation in ad tech. How corporates can access market intelligence, co-build products, and invest in the next wave of AI-driven startups.00:00 Introduction to FPC and Corporate Innovation02:08 The FPC Stack and Its Evolution06:07 Corporate Partnerships and Innovation Strategies09:55 Market Intelligence and Insights17:59 Addressing Challenges in Ad Tech and Publishing22:08 Incubation and Future Innovations Hosted on Acast. See acast.com/privacy for more information.

In this edition, we sat down with Harry Maitland, Founder of Vendi Tech. We discuss how Vendi is transforming vending machines into digital media and data infrastructure — closing the loop between brand awareness and real-world conversion.Retail Media and DOOH are two hot sectors atm - and this is their lovechild00:00 Introduction to Vendi and 'Industrial' Ad Tech03:03 The Intersection of Out of Home and Retail Media05:58 Vendi's Unique Business Model and Case Studies09:00 Insights from the First Party Team11:53 The Future of Out of Home Advertising14:58 Consumer Psychology and Brand Engagement18:02 Scaling Vendi's Operations21:01 Potential Acquirers and Market Positioning Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to digitalAudience and Its Journey02:50 Ruben Niet's Background and Insights05:54 The Concept of Data Collaboration08:59 Market Dynamics and Competition11:56 Growth and Expansion Plans15:00 Retail Media and Case Studies17:58 Amazon's Market Influence21:02 Google's Antitrust Trial and Industry Impact Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction and Background of Vibe02:57 Recent Developments in AdTech06:06 Arthur's Entrepreneurial Journey09:02 Vibe's Growth Strategy and Funding12:03 Fixing AdTech: A New Approach14:57 Targeting the Long Tail of Advertisers18:02 Growth Metrics and Strategies21:04 Future Trajectory and Investor Expectations24:12 Hiring and Company Culture27:06 Parting Thoughts and Key Takeaways Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction and Overview of Recent M&A Activity02:49 Deep Intent's Acquisition and the Healthcare Ad Tech Landscape09:15 Bending Spoons Acquires Vimeo: A Strategic Move17:48 Digiseq's Acquisition by Hawk Infinity: A New Player in Ad Tech24:22 Streamr's Acquisition by Magnite: Expanding Creative Solutions26:50 Spaceback and Rembrandt Merger: Ambitious Plans Ahead28:44 Captify's Acquisition by Verve: Analyzing the Deal Hosted on Acast. See acast.com/privacy for more information.

00:00 Welcome Back and Upcoming Events02:28 M&A Activity in European Ad Tech05:31 Trends in European Ad Tech Acquisitions09:01 Diversity of Acquirers in Ad Tech11:50 The Importance of Financial Conversations14:55 Merging MadTech Money with ATS London18:10 Panel Discussions and Key Topics21:06 Challenges in Ad Tech Financing23:53 Insights from Industry Leaders27:05 Future of Ad Tech and Investment Opportunities30:09 Closing Thoughts and Next Steps Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Introduction to Audiences and Its Mission02:48 The Importance of First-Party Data06:08 How Audiences Differentiates Itself08:57 Real-Time Data Access and Its Impact12:03 Competitive Landscape and Market Positioning14:49 Revenue Growth and Future Plans17:52 Strategic Partnerships and Opportunities21:12 Vision for the Future and Closing Thoughts Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Index Exchange and FPC Fund 205:11 Andrew Casale's Early Journey in Ad Tech09:54 The Evolution of Index Exchange14:59 Business Model and Market Strategy19:52 Trends in Ad Tech: AI and Sell-Side Curation25:03 Index's Corporate Dev Strategy and Potential IPO Plans29:52 Index's Strategic Investment into FirstPartyCapital Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Brian Wieser and His Background03:02 Impact of Tariffs on Digital Advertising05:45 De-globalization and Its Effects on Advertising09:13 Emerging Opportunities in European Markets12:05 Perception Issues in Advertising15:00 The Role of Advertising in Business17:54 The Future of Agencies and Services20:54 Under-appreciated Trends in Media and Advertising Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Financial News and Guests01:26 M&A Activity in Ad Tech / Insights on Greenbids Acquisition10:02 Founder's Perspective on M&A14:09 Picnic's Fundraising Journey22:02 Shift to Media Quality at Picnic29:55 Ad Tech Partnerships and Curation36:05 Future of Picnic and Industry Trends Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to FirstPartyStudio05:26 The Role of a Venture Studio12:35 Incubation and Innovation Strategies19:30 Building an Expert Network25:48 Investor Perspectives and SEIS Opportunities Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Mark Zagorski and DoubleVerify04:59 Mark's Journey in Ad Tech10:08 The Evolution of Ad Tech and DoubleVerify's Role15:10 M&A Strategy and Investment Insights19:56 DoubleVerify's Investment in FPC and Future Collaborations Hosted on Acast. See acast.com/privacy for more information.

00:00 Navigating the Current Economic Landscape02:59 Shane Shevlin's Journey in Ad Tech05:53 The Impact of Recent M&A Activity08:58 Insights on WPP's Acquisition of Infosum11:48 The Future of M&A in Ad Tech15:08 The Rise of Curation in Ad Tech17:54 Bedrock Platform: A New Player in Ad Tech20:56 The Role of Bedrock in the Ad Tech Ecosystem24:05 The Future of Media Buying and Curation26:59 Investment Opportunities in Bedrock30:07 Conclusion and Future Outlook Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction and Industry News10:00 Mathieu Roche and ID5 Overview20:01 Funding Journey and Challenges24:04 Acquisitions and Market Trends31:56 Agency Success in Acquisitions Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Scope3 and Anne Coghlan02:30 Anne's Journey in Ad Tech04:02 Scope3's Mission and Sustainability Focus06:42 Fundraising Experience in Ad Tech09:06 Latest Product Launches and Innovations13:22 The Role of Super Signal Aggregators18:31 Partnerships and Collaborations23:38 Future Vision and Market Positioning Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction and Overview of Recent Acquisitions01:25 T-Mobile's Acquisition of Bliss: A Strategic Move05:59 The Implications of T-Mobile's Strategy in Ad Tech11:50 Publicis Acquires Lotome: Industry Reactions14:12 Curation and the Evolution of Ad Tech19:00 The Rise of Sell-Side Curation26:26 Future Innovations in Ad Tech and Data Privacy32:21 AI in Ad Tech: Opportunities and Challenges Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Introduction03:00 IPO Trends in Ad Tech06:09 Mountain's IPO Plans and Market Dynamics08:59 DoubleVerify's Acquisition of Rockerbox11:56 The Evolution of Ad Tech and Signal Aggregation14:50 Keith's Journey with Lockr17:59 Navigating Privacy Regulations in Ad Tech20:56 The Role of Investors and The Importance of Good Communication 23:50 Lockr's Product Evolution27:01 Closing Thoughts and Future Outlook Hosted on Acast. See acast.com/privacy for more information.

Four years ago, we launched FirstPartyCapital with a simple but bold thesis: adtech and martech are massive, underserved markets going through fundamental change. Since then, we’ve backed 17 companies, built a community of 200+ industry insider investors, and proved that an operator-led, community-driven VC model can move the needle in early-stage investing.Chapters00:00 Introduction to FirstPartyCapital01:27 Origin Stories07:20 The Evolution of Ad Tech and Funding Challenges15:10 The Unique Approach of FirstPartyCapital30:29 Looking Ahead: Fund 2 and Future Plans Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Intro01:20 StackAdapt's $235M Funding Round04:38 Insights on StackAdapt's Business Model07:08 Serving the SMB & indie agency segment12:47 Kevel's Acquisition of Nexta15:29 The Evolution of Retail Media and Commerce Media18:52 MIQ's Involvement in Retail Media24:25 MIQ's Corporate Development Strategy26:30 The Impact of AI on Advertising33:43 What's next for MIQ? Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Introduction and FPC Updates06:00 tvScientific's $25M Series B Funding Round12:01 Teads and Outbrain Acquisition merger17:03 Horizon's Strategic Expansion Plans25:07 Coinbase Acquires Spindl: A New Era in Web3 Advertising Hosted on Acast. See acast.com/privacy for more information.

00:00 Introduction to Evorra and Aaron Ritoper02:49 The Evolution of Data Privacy in Ad Tech06:11 Optimal's Series A Acceleration and Market Implications08:52 Evorra's Unique Selling Proposition in Data Collaboration11:56 Data Partnerships and Audience Activation14:49 AI's Role in Data Management and Optimisation20:54 The Impact of AI on Ad Tech and Market Dynamics27:02 Evorra's Growth Strategy and Future Outlook Hosted on Acast. See acast.com/privacy for more information.

00:00 2025 Financial Landscape: M&A and Funding Trends06:56 Trade Desk's Acquisition of Sincera: Implications and Insights14:08 Out of Home Advertising: T-Mobile acquires Vistar Media and Bauer acquires ClearChannel's Northern European business20:58 Emerging Trends in Ad Tech: Casino Vertical Ad Networks and Beyond Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Introduction and Industry Overview02:57 Paul Kang's Background and Role at Dentsu05:49 Recent M&A Activity in ad tech11:57 Impact of the Omnicom and IPG Merger18:01 Dentsu's Corporate VC Strategy30:14 The Algorithmic Era in AdvertisingAs Kevin Flood says, “the sun never sets on the ad tech horizon!" Hosted on Acast. See acast.com/privacy for more information.

Chapters00:00 Introduction 01:41 Andrew Buckman's Career Journey02:10 Experian's Acquisition of Audigent07:03 Insights on Experian's Strategy10:52 Channel Factory Rumuors and Valuation Discussion13:09 Holdco News: Omnicom and IPG Merger14:15 Impact of Omnicom and IPG Merger on the Industry20:43 Indie Agencies and Market Dynamics24:11 Azerion and the Goldbach Acquisition35:33 Strategic Partnerships and Future Outlook37:29 Conclusion and Final Thoughts Hosted on Acast. See acast.com/privacy for more information.

SummaryAlvaro del Castillo, CEO of TapTap, shares insights from his journey scaling TapTap since 2010, the evolution of the ad tech landscape, and the playbook for scaling businesses in Europe. The conversation also highlights the growing interest from private equity firms in the ad tech space, as well as the explosion in strategic acquirers since 2021.We also discuss BedRock Platform's latest hire, Austin Scott, who has joined from Microsoft as Chief Commercial officer and co-founder.Chapters00:00 Introduction to the Podcast and Guests01:49 M&A Activity in Ad Tech and MarTech06:10 The Evolution of European Ad Tech10:33 Challenges and Opportunities in Scaling in Europe13:49 Insights on M&A Trends and Private Equity Interest17:49 Navigating the European Market: Cultural and Operational Challenges21:12 Expanding into Latin America23:50 Early Days of TapTap and Fundraising Experiences30:00 Austin Scott Joins Bedrock as Chief Commercial Officer34:54 Advice for Founders in the Ad Tech SpaceLinksFPC's M&A trackerTapTap announces partnership with bd capitalAustin Scott joins Bedrock Platform as CCO Hosted on Acast. See acast.com/privacy for more information.

SummaryAnother busy week for ad tech M&A! MediaOcean acquired Innovid for $500M, and Bending Spoons acquired Brightcove for $233M M&A activities.In funding news, Zeotap announced a $25M Series D, a combination of debt and equity, reportedly taking the total amount raised to $117M.We also examine the financial motivations behind the growing trend of Curation, and discuss Bedrock Platform's Closed Loop Curation approach.Chapters00:00 Introduction to Ad Tech Trends02:59 M&A Activity in Ad Tech06:08 Emerging Players: Bending Spoons and Brightcove09:01 Innovid and MediaOcean: A New CTV Powerhouse12:09 Zeotap's Series D Funding and Market Position15:00 Curation in Ad Tech: The Rise of Bedrock17:57 The Financial Dynamics of Curation20:58 Conclusion and Future OutlookLinksFPC M&A TrackerBending Spoon's IPO plansClean room sketch by Exchangewire Hosted on Acast. See acast.com/privacy for more information.

SummaryIn this episode of the FPC podcast, the team discusses the latest financial news in ad tech, focusing on mergers and acquisitions, the rise of Super Signal Aggregators (SSAs), and the verticalisation of ad networks. The conversation features insights from industry experts on the importance of data and attention technology, as well as the evolving landscape of B2B marketing. In this conversation, Mike Follett discusses the evolution of Lumen's partnerships, the importance of simplicity in ad tech, and how attention metrics correlate with brand uplift and profit. He emphasises the future focus on signal aggregation and AI's role in enhancing creative capabilities. The discussion also touches on the challenges of navigating valuations and the importance of capital efficiency in building sustainable businesses.Chapters00:00 Introduction and Team Dynamics03:09 M&A Trends in Ad Tech06:10 The Rise of Super Signal Aggregators09:02 Verticalisation in Ad Tech11:56 The Future of B2B Ad Networks14:54 Lumen's Role in Attention Technology20:42 Partnerships and Client Demand23:31 The Importance of Simplicity in Ad Tech24:52 Linking Attention to Brand Uplift28:52 Future Focus: Signals Aggregation and AI in Creative32:03 Navigating Valuations and Capital Efficiency Hosted on Acast. See acast.com/privacy for more information.

SummaryIn the inaugural episode of the FPC podcast, Rich, Ciaran and Alex discuss recent M&A activity, the emergence of super signal aggregators, and the potential impact of US election on the M&A landscape. They highlight the success of companies like AppLovin and The Trade Desk, delve into the growing retail media sector, and introduce Pixels, a company focused on transforming vertical video for the open web. The conversation emphasises the evolving nature of ad tech and the opportunities for investment and growth in the sector.Key TakeawaysM&A activity is increasing in the ad tech space.The ad tech industry is bifurcating into signal and media execution.Super signal aggregators are becoming crucial in ad tech.Political changes may influence M&A activity in the coming years.AppLovin and Trade Desk are leading success stories in ad tech.Retail media is a growing sector with significant potential.Pixels aims to bring vertical video to the open web.The market for vertical video is growing rapidly.Generalist investors should be aware of the opportunities, but also the complexities in the ad tech space.Chapters00:00 Introduction to The FPC Podcast01:49 M&A Trends in Ad Tech06:10 The Rise of Super Signal Aggregators09:48 Political Impacts on the M&A Landscape14:10 Success Stories: AppLovin and The Trade Desk17:56 Retail Media and Non-Traditional Ad Businesses21:48 Pixels: The Future of Vertical Video29:55 Market Potential and Future Plans for PixelsPixels - Additional InfoTo learn more about Pixels, check out the full video interview here, and the pitch deck here.FirstPartyCapital - Additional InfoTo learn more about FPC, check out our website here, and subscribe to our newsletter here. Hosted on Acast. See acast.com/privacy for more information.