Cardlytics Bolsters Digital Advertising Offering with $275M Acquisition of Dosh


Digital advertising platform Cardlytics has acquired cash-back offers platform Dosh for $275 million in cash and stock.

Cardlytics runs banking rewards programs for financial institutions that are designed to allow marketers to identify new customers and increase loyalty from within banks’ online and mobile channels. To date, Cardlytics has provided more than $500 million in cash back to consumers in partnership with advertisers across a variety of industries, including retail, restaurant, telecommunications, direct-to-consumer, grocery and travel.

Founded in 2016, Dosh is a transaction-based advertising platform that helps consumers earn cash back when they shop, dine or book hotels. In the past year, Dosh expanded its product offering to financial institutions, neo-banks and fintech companies including Venmo, Betterment and Ellevest. The company’s suite of merchant advertising solutions is designed to drive new customer acquisition as well as increase transaction frequency and average order value.

The merger will combine the scale of Cardlytics’ advertising platform — which currently has more than 163 million monthly active users — with Dosh’s cash-back innovations, allowing advertisers to engage with consumers at financial institutions, neo-banks and fintech companies.


“Dosh’s technology is extremely complementary to the long-term financial institution integrations and substantial scale we’ve built over the past 13 years,” said Lynne Laube, CEO and Co-Founder of Cardlytics in a statement. “With the addition of Dosh, Cardlytics will accelerate its ongoing efforts to improve the advertising industry through our brand-safe alternative, which provides superior returns based on actual purchases. This creates real value for consumers, advertisers and our bank partners.”

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