Continuing its expansion in the United States, British digital marketing company MVF has acquired Tech.io, which provides an online platform for event organizing, specifically tailored to startup companies. The terms of the deal have not yet been announced.
This is the second foray into the United States for London-based MVF, which was founded in 2009 and currently has over 400 employees. They previously opened an Austin office back in 2015. The company said that they were very excited to have Tech.io onboard, and they further said that what had impressed them with Tech.io was how the company has been able to scale businesses.
Tech.io is an offshoot of Tech Cocktail, which was started by Frank Gruber and Eric Olson in 2006. Their original purpose was to help local Chicago startup companies interact with those who could help make them successful, by holding regular networking events in the area. This was at a time before things such as coworking locations and accelerators were commonly available.
Eventually, Gruber and Olson went their separate ways, and in 2011 Gruber and Jen Consalvo teamed up to found Tech.io. In addition to event organizing, the company publishes news about startup companies, as well as features about those who are leading them. According to the company, its website has many million regular readers. In 2013, the company received $2.5 million in seed funding from Downtown Project, which is run by Tony Hsieh.
Gruber says that he and Consalvo will, in the coming months, lead the company’s transition to MVF. They will also continue their normal responsibilities with the company, which includes helping innovative media and tech companies with advise, consultation and investment.
The acquiring of Tech.io comes on the heels of the acquisition of another online event company. A few months ago, WeWork acquired Meetup, so that they could organize networking events for their coworking locations