Plano, TX – Red Ventures, a leading internet advertising and media company, has acquired Choose Energy, Inc., a Texas-based online marketplace for electricity and natural gas. The transaction closed in June for an undisclosed amount.
ChooseEnergy.com is the second-largest online energy marketplace in the U.S. behind SaveOnEnergy.com, which was acquired by Red Ventures in 2012. Choose Energy currently operates in 13 states and the District of Columbia and has relationships with all of the major energy retailers.
Through deeply integrated brand partnerships and consumer-facing assets, Red Ventures connects online customers with products and services across high-growth industries including home services, finance, and healthcare.
“What we’re seeing is that customers across all industries are moving online not just to transact, but to research and compare products and services,” said Red Ventures CEO, Ric Elias. “ChooseEnergy and SaveOnEnergy are two powerful, complementary consumer-facing energy marketplaces that combined will enable customers across every deregulated energy market in the U.S. find better electricity and natural gas plans.”
Currently 60 million households have the option to purchase electricity or national gas from retailers other than their utility, though less than a third of those households will exercise their right to do so. Energy marketplaces aim to educate consumers on this option and provide platforms where energy companies can compete for their business.
“From the start, our goal was to make energy choices simple and easy for consumers,” said Jerry Dyess, Choose Energy CEO. “With the Red Ventures team and online assets behind ChooseEnergy.com, I am confident it will be able to help more energy customers than ever.”
Choose Energy is just one of a series of digital assets Red Ventures has invested in over the last 24 months. In 2015 Red Ventures acquired Imagitas, an on and offline mover services company, and last year it acquired Soda, a Seattle-based family of online brands including Reviews.com, Freshome, and The Simple Dollar.
About Red Ventures
Based in Charlotte, N.C., Red Ventures is a leading consumer choice platform that bridges the digital divide for major brands through a combination of data science, proprietary marketing technology, and a highly optimized sales force. Red Ventures has deeply strategic partnerships with national brands as well as proprietary online assets across a variety of high-growth industries including telco, financial services, and energy. Founded in 2000, Red Ventures employs 2,700 people across the Carolinas, Seattle, WA, and Sao Paulo, Brazil. For more information, visitwww.redventures.com
About Choose Energy
Choose Energy Inc is based in Plano, Texas, and was founded in 2008 with the vision to make energy choice simple and easy for everyone. Choose Energy uses an online marketplace to connect consumers and businesses with electricity and natural gas plans from every major energy retailer across the U.S.