Bridg Acquired By Cardlytics For $350M

Los Angeles-based Bridg, a venture backed company which develops software to help e-commerce retailers improve their sales, has been sold for $350M in cash to Cardlytics. Bridg, led by Amit Jain, was venture backed by Morpheus Ventures, March Capital, Wavemaker Partners, Karlin Ventures, Mucker Capital, Richard Wolpert, as well as other local investors and angels. The company's software uses artificial intelligence and big data to help retailers with their e-commerce efforts. According to Bridg, in addition to the $350M in cash at closing, there are two other, potential earnout payments in cash on stock on the first and second anniversary of the transaction, which a note leaked from Jain said could deliver a "significant additional consideration to the shareholders."

Amit Jain is an alumni of Electronics and Design Technology Department of RCOEM.

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