The B.J.S. Digital Marketing Agency is set to go public with a $50 million valuation.
The company, which has more than 30 employees, will be managed by digital marketing agency EKM, which is led by CEO and co-founder Chris Whelan.
The agency was founded in 2015 by former Peloton team member, Chris Tulloch.
“The company has had the most positive experience in the industry and we look forward to helping them grow their business and create a sustainable business model for their clients,” said Whelans co-chair Mark Fusco.
“We’re excited to continue our strong collaboration with Peloton and look forward for a future together.”
B.D.A. is the first agency to go private since Peloton was acquired by digital ad giant AdWords.
In an email to CTV News, Peloton said the agency’s valuation was based on the company’s ability to generate revenues in 2019.
Peloton’s digital marketing division is one of a number of brands that have been acquired by AdWords, including the Gap, Zara, and Saks Fifth Avenue.
In a statement, Whelsan said the company is excited about the future of digital advertising and is excited to work with Pelotons strategic partner.
“B.J.-S is an industry leader in the digital marketing space and we are very excited about our partnership with PelOTONS,” he said.
“This will allow B.B.
S to leverage its expertise in digital marketing to deliver a broad range of brand value propositions to a broader group of consumers, which we believe will drive greater returns and more value to advertisers.”
With a valuation of $50m, B.
S will be the second largest digital marketing company in Canada and one of the most valuable.
In February, Pelotones founder, Mark Zuckerberg, sold his stake in the company to private equity firm Bain Capital.
Peloton’s shares closed at $18.90 on Friday, up $2.70 or 0.9 per cent.