Catena Media makes its first investment in card-opening platform Repackz
Affiliate company Catena Media has made a strategic investment in Collectbase Inc., the parent company of Repackz, through its new venture capital arm. The move is presented as part of the company's effort to diversify its revenue sources.
Catena Media has announced the first investment by its new venture capital arm, Catena Growth Ventures. The investment went to Collectbase Inc., described as a digital gaming platform based on physical collectible cards. The company is developing Repackz, a B2B card-opening product.
Under the agreement, Collectibles.com, which allows collectors to organize, value and share their cards, is also part of the partnership. The parties will work together on the commercial side. Catena Media will introduce Repackz to the operators and publishers in its own network.
Card-opening apps have become one of the most talked-about new verticals in the US, after prediction markets and sweepstakes casinos.
Catena CEO Manuel Stan said the investment is a step toward diversifying revenue sources. Stan noted that Repackz is a proven product already put into practice by leading operators, and stated that the company will provide capital, operator relationships and distribution support.
Last week, Catena issued a profit warning after a weak quarter. The company had stressed that, because of the rapid change in the search market, it needs new revenue areas beyond CPA deals. Collectbase co-founder Dietrich von Behren, for his part, described Catena being both an investor and a partner as a strong endorsement.
Comments (0)
Be the first to comment.
Log in to comment.