Exclusive: Digital marketing company Logiq has acquired Park Place Payments for $10 million in stock
Ettus had hoped to create a billion dollar businesses but ran into fundraising difficulties in 2022.Logiq, a New York-based provider of digital customer acquisition and marketing tools, has acquired, a Thousand Oaks, CA-based payments processing company, in an all-stock deal valued at over $10 million, Insider has learned.
The company's annualized transaction volume has grown to more than $180 million, from which Park Place says it expects to generate more than $5 million in revenue this year. "The lead investor had a hiccup on their end and they pulled out at the very last minute and it kind of sent us into a tailspin," Ettus said."Being the optimist that I am, I just thought, 'Okay, we'll just reraise some money and we'll figure this out."
"I had never thought of selling this early," Ettus said."Then suddenly got excited and I was like, 'Okay, if I have the resources of a really big company behind us, we can really turbocharge our growth and do it in a way that can impact even more people and more businesses.'"that was founded in 2004 and went public on Canada's NEO in 2021.
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