Online advertising firm Marin Software Inc. has inked a new revenue share agreement to develop an enterprise platform for tech giant Google LLC, according to a report.
- Under the agreement, Google will pay Marin based on revenue raised from the tech platform in connection with clients’ spend on search ads on Google Search and those appearing on Eligible Search Engines.
- Payments will be made up of baseline revenue payment calculated as a fixed percentage against all search revenue, along with a potential incremental revenue payment.
- Marin will reinvest the proceeds to boost its tech platform and for the growth, development, innovation, and expansion of its enterprise tech business. Investments will be reviewed by a third-party auditor.
- The new agreement will take effect October 1, following the termination of the parties’ earlier revenue share agreement on September 30, 2021, signed in 2018. It will be in effect until September 30, 2024.
The possible extension or renewal of the agreement will be made three months prior to the termination. MRIN is up 56.59%, while GOOG is up 0.44%.