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CDLX Stock Price Increased By 13.91%: Here’s What Happened

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Cardlytics, Inc. (NASDAQ: CDLX)’s stock prices increased by 13.91% on April 14, 4:00PM EDT, Market Close. The current price stands at 120.18. The price was 105.50 on the previous close, which shows a surge of 14.68 on April 14  over the previous price.  The pre-market price as of 4:01PM EDT was 122.00. The day’s range was 107.69 – 120.65. 

Cardlytics, Inc. (NASDAQ: CDLX) is a digital advertising platform. They partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. Cardlytics, Inc. (NASDAQ: CDLX)’s stock price is grossing at its highest since April 5(121.95). There has been stagnant growth since April 9, closing price- 110.90. The price dropped on April 13(105.50) and hiked to 120.18 the next day. 

Cardlytics (NASDAQ: CDLX) announced today its intent to acquire Bridg, a customer data platform that empowers marketers to better understand and reach customers using SKU-level insights. Once the integration is complete, this addition will pair Cardlytics’ advertising platform, which has an audience of more than 163 million monthly active users, with Bridg’s enhanced SKU-level insights and ability to engage consumers across other digital platforms. The acquisition of Bridg plays a key role in the expansion of Cardlytics’ advertising platform into a holistic results-driven, self-serve, always-on solution for marketers.

“The Cardlytics platform is a powerful and unique advertising platform that brands trust because we have a better approach to target and engage consumers, which is based on actual consumer purchases across all merchants in a privacy-first way. Bridg built a similar model, but instead focused on all of the products purchased at an individual retailer,” said Lynne Laube, CEO and co-founder of Cardlytics. “Since founding Cardlytics, our vision was to have a broad view into consumer spend with a detailed understanding of a customer’s individual product preferences. Once we integrate this SKU-level data, we will be able to deliver significant reach, along with targeting and measurement capabilities to brands across all of their marketing investments.”

Subject to closing conditions, Cardlytics has agreed to acquire Bridg for approximately $350 million in cash at closing. In addition, Cardlytics has agreed to make two potential earnout payments in cash and stock on the first and second anniversary of the closing based on Bridg’s U.S. annualized revenue run rate. Cardlytics expects these payments could equal approximately $100 million to $300 million in the aggregate.

BofA Securities is serving as exclusive financial advisor and Cooley LLP as legal advisor to Cardlytics. J.P. Morgan Securities LLC is serving as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor to Bridg. Bridg was backed by Morpheus Ventures and March Capital.

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