Google bought a company that helps brands get product placements in YouTube videos – Business Insider

Google announced Tuesday that it bought Famebit, a company that
helps brands work with YouTube creators for marketing their
products.

Famebit is basically a way for
companies to get product placement in videos posted by popular
YouTube users.

Google did not say how much it paid for Famebit, but Famebit will
continue to run independently from Google for now,
according to the announcement
.

To give you an idea of what Famebit does, here’s an example of a
video one of the company’s creators made to help promote an app
called Best Friends:

This is the third acquisition this year for the Los Angeles-based
startup studio Science Inc after exits from Dollar Shave Club and
Hello Society. Science owned the majority of the three-year-old
startup.

And here’s the full announcement from Google:

Nine years ago, YouTube launched its Partner Program with the
goal of helping creators earn advertising revenue while
connecting their innovative content to audiences around the
world. Every year, more and more brands are making YouTube
essential to their marketing strategy. In fact, in the last year
alone, the top 100 advertisers have increased their spend on
YouTube video ads by 50 percent.

As brands continue to embrace the value of YouTube, they’re also
taking their investments one step further, partnering with
creators on branded content opportunities such as product
placements, promotions and sponsorships. As we look to the
future, we want even more creators and brands to come together
and realize the benefits of these creative collaborations.

Today, we’re excited to announce that Google has acquired FameBit
— a technology platform company that helps creators and brands
find and work with each other through sponsorships and paid
promotion. We believe that Google’s relationship with brands and
YouTube’s partnerships with creators, combined with FameBit’s
technology and expertise, will help increase the number of
branded content opportunities available, bringing even more
revenue into the online video community.

Creators will always have the choice in how they work with
brands, and there are many great companies who provide this
service today. This acquisition doesn’t change that. Our hope is
that FameBit’s democratized marketplace will allow creators of
all sizes to directly connect with brands, as well as provide a
great technology solution for companies like MCNs and agencies to
find matches for their creators and brand partners.

We look forward to seeing FameBit and the entire branded content
space thrive as we continue to support the success and creativity
of the creator community.

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