NEW YORK, NY, May 01, 2024 (EZ Newswire) -- MokaMoto Worldwide today announced its launch as a diverse-owned media buying and MarTech holding company that will empower brands of all sizes to address audiences through applied AI, cultural relevancy, and truly engaging advertising. 

MokaMoto’s operating units include Alpha Precision Media, Converze Media Group, and Solve Innovation Group, and its dynamic ecosystem harnesses data insights scalable across industries and geographies. The company is backed by purpose-driven private investors, whose vision is bias-free engagement that speaks to modern consumers. 

A diverse-owned media holding company, MokaMoto begins its mission by addressing a critical gap: In 2023, diverse-owned North American media companies only received 5.2% of total advertising and marketing spend—even though some 42% of the U.S. consumers (and most of Gen Z) are from minority communities. This disparity highlights the importance of MokaMoto’s mission to rectify such imbalances—at a time when global media spending is expected to grow from under $850 billion in 2023 to over $1 trillion in 2024, driven by an increase in social, retail media, and CTV.

"The launch of MokaMoto positions us to innovate and drive change, leveraging our omnichannel strategic lens, data-driven approach, and understanding of the on-demand world. Through the support of players in the ad industry like Publicis Media, via its Once & For All Coalition, and Verizon, we’ve been able to maximize our advertising opportunities and expand our business. This growth is a testament to our collective vision of closing the investment gap through strategic acquisitions, and developing transformative products and talent,” said Larry Harris, co-founder and CEO of MokaMoto.

As MokaMoto prepares for additional strategic acquisitions, it remains committed to broadening its reach with assisted AI and data, to better gauge consumer behavior. Harnessing these advances primes MokaMoto for pioneering predictive personalization and precision solutions across multiple industries and media channels.

“We look forward to continuing our relationship with the newly-formed MokaMoto as we strive for culturally relevant, creative ways to engage with our customers,” said Nakesha Holley, Media Strategy & Activation at Verizon. 

Harris’s experience spans c-level roles for digital advertising companies including Interpublic, PubMatic, Sightly, and Ansible Mobile. He was also asked to serve as a special consultant to DARPA during the Obama administration. Harris continues to serve as the CEO of Alpha Precision Media. He is joined by two partners and fellow MokaMoto co-founders: Chief Strategy Officer Melvin Wilson and Chairman Erik Miller. Wilson’s career highlights include senior roles at Interpublic, where he drove revenue as Head of Strategy of IPG Media Lab, and most recently he was founder of the Solve Innovation Group, a leading consultancy in tech and data equity. Miller is the sole general partner of Perspective Equity Partners and has over 20 years of direct private equity experience. 

Another key member of the executive team is Tammy Johnson, who has been promoted to Chief Revenue Officer at Alpha Precision Media. She is a proven leader with over 20 years of experience, and was named one of AdMonster + AdExchanger’s 2024 Top Women in Media and AdTech. Johnson has expertise in driving results for companies such as Xerox, CBS, and Shutterstock.

MokaMoto, itself a portfolio company of Perspective Equity Partners, was built to create more minority owned-and-operated products and services in the marketing, technology, and content sectors. Its operating units complement each other in approach and function:  

“I’m very excited Converze is joining MokaMoto,'' said Tedd Barr, co-founder and chief client officer of Converze Media Group, and MokaMoto board member. “In today’s ever-changing media landscape, their digital expertise will help us drive massive growth and expand our core audio and video capabilities."

Central to MokaMoto's strategy is its differentiated trove of data, consisting of 200+ million anonymized records that enable highly granular ethnic differentiation of the market and access to nuanced cultural insights—distinguishing, for example, between African Americans, Afro-Caribbeans, and Africans. MokaMoto’s data is inclusive of all people and ethnic groups that self-identify, such as Asian-Americans, LatinX, German-Americans, Italian-Americans, and Jewish-Americans.

Based and headquartered in New York City, with offices in Huntington Beach, CA, MokaMoto will be holding its official launch at an exclusive event at the Interactive Advertising Bureau (IAB) NewsFront on May 2 in New York City. This will include a panel discussion with industry experts on reaching culturally relevant audiences through innovation, moderated by CNBC’s Jon Fortt.

About MokaMoto

MokaMoto is a diverse-owned media buying and MarTech holding company committed to closing the industry gap in marketing investments and media ownership, and cultivating a modern marketing landscape that is equitable, rich in value, and representative of our society. Our operating units—Alpha Precision Media, Solve Innovation Group, and Converze Media Group—offer advertisers the ability to ethically reach and connect with audiences to deliver optimal results. To learn more about MokaMoto, please visit us at https://www.mokamotoworldwide.com.

About Perspective Equity Partners

Perspective Equity Partners is a boutique private equity firm that makes investments in strategically well positioned, growth-oriented companies operating in the technology-enabled services and branded consumer sectors. Perspective employs a founder focused strategy and invests in the underserved lower end of the lower middle market within the United States.

Media Contact

Niveen Saleh

Communications Lead, MokaMoto

SOURCE: MokaMoto Worldwide

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