Full-service digital marketing agency Hoorah announced today that Monks, a global advertising and marketing services company, has acquired a 25% stake in the business. This strategic investment aims to expand Monks’ presence on the African continent and enhance Hoorah’s ability to deliver AI-driven marketing solutions.
Monks, formerly known as Media.Monks, is the operating brand of UK-listed S4 Capital and specializes in creating innovative, personalized brand experiences through AI-driven solutions. Their services include creative production, content marketing, social media marketing, and data analytics. A recent Forrester study revealed that over 62% of B2B marketers already use AI-powered marketing tools, a number expected to rise to 75% by the end of 2024.
With this investment, Hoorah now gains access to Monks’ comprehensive suite of AI-first marketing and advertising services. This will allow Hoorah to deliver cost-efficient, scalable content and marketing experiences, helping businesses across Africa become AI-first brands.
Shaune Jordaan, CEO and founder of Hoorah, highlighted how AI has revolutionized marketing, particularly in Africa, where businesses are starting to adopt these tools to engage, convert, and retain customers. “At Hoorah, we embrace new ways of partnership and business,” he said. “We are disrupting the advertising landscape by creating innovative, personalized brand experiences at scale. This partnership with Monks is a natural fit.”
Clyde Mallon, COO of Hoorah, echoed Jordaan’s enthusiasm, saying, “This partnership enhances our ability to disrupt the agency landscape with new operating models and AI-enabled approaches.”
Both Jordaan and Mallon will continue to hold shares in the company and remain in their leadership roles, committed to driving this new phase of growth. The transaction was facilitated by outgoing board members Adam Fine and Eran Brill, who expressed confidence in Monks’ ability to take Hoorah to the next level.
