The amount of the transaction remained undisclosed. As a result of the deal, Sonny Byrd, the founder and CEO of Betabox, joined VaynerMedia as the head of this new business division.
Born out of Mondelez International’s Mobile Futures initiative, which aimed to create and incubate new mobile ventures in 90 days, Betabox was developed in partnership with venture development firm Prehype. Mondelez International employees generated the original idea for Betabox and further developed and incubated it in collaboration with venture developers at Prehype, who helped build and launch the product.
The startup enables brands to target product samples at specific consumers by distributing through reputable e-commerce partners. It engages sample recipients with a mobile platform that brands can customize to promote content, special offers and social sharing incentives. The digital platform also enables brands to measure the effectiveness of their product sampling campaign.