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Best Buy and GroupM Complete Successful Market Test of Criteo's New Commerce Max Solution
NEW YORK, Sept. 20, 2022 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the commerce media company, today announced the launch of Commerce Max – a self-service, all-in-one demand-side platform (DSP) for enterprise marketers built for scale and powered by Criteo's leading retail media and programmatic capabilities.
With Commerce Max, brands and agencies are not only empowered to find valuable audiences on retailer sites using on-site sponsored and display ads but can also extend these audiences off-site across open internet programmatic inventory – unlike any other DSP today. Thanks to Criteo's access to over four billion product SKU's, thousands of global media publisher relationships and 150 retailer partnerships, marketers now have a one-of-a-kind opportunity to access our leading optimization models to create and drive commerce performance.
Powering these unique audiences, Criteo's predictive AI identifies the best path to conversion, removing guesswork and leading to better advertising outcomes with buying precisions. Commerce Max also arms marketers with the data needed to understand what performs, why and how, in near-real-time through unified reporting and closed-loop measurement, including product-level sales attribution.
Commerce Max entered Alpha stage in the first half of 2022 with two key Criteo clients – leading consumer electronics retailer, Best Buy and the world's leading media investment company, GroupM.
Keith Bryan, SVP, President, Best Buy Ads, Media, & CRM, Best Buy commented: "Best Buy has seen impressive results through our partnership with Criteo, so helping them test their new Commerce Max solution was a natural next step as we look to be at the forefront of the retail media market and expand our offering."
Through this market test, an off-site advertising campaign was executed that harnessed first-party data to target Best Buy's audience across the open web and drive measurable purchases of products on the Best Buy website.
Criteo's acquisition of IPONWEB has also accelerated the development of Commerce Max, along with the full suite of Commerce Media Platform solutions to be unveiled at Criteo's Investor Day on October 31st.
"For years, companies across the globe have relied on our trusted Commerce Media Platform to harness the power of commerce media and drive sales," said Brian Gleason, Chief Revenue Officer at Criteo. "With the recent IPONWEB acquisition, we are now positioned to offer a unified AI-powered platform that will help our enterprise clients such as Best Buy and GroupM execute impactful, addressable media campaigns at the highest scale possible."
Commerce Max is in limited availability with plans to be rolled out to select key markets in 2023.
About Criteo
Criteo (NASDAQ: CRTO) is the global commerce media company that enables marketers and media owners to drive better commerce outcomes. Its industry leading Commerce Media Platform connects 22,000 marketers and thousands of media owners to deliver richer consumer experiences from product discovery to purchase. By powering trusted and impactful advertising, Criteo supports an open internet that encourages discovery, innovation, and choice. For more information, please visit www.criteo.com.
Forward-Looking Statements Disclosure
This press release contains forward-looking statements, including our expectations regarding our market opportunity and future growth prospects and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to innovate and respond to changes in technology, uncertainty regarding the scope and impact of the COVID-19 pandemic on our employees, operations, revenue and cash flows, uncertainty regarding our ability to access a consistent supply of internet display advertising inventory and expand access to such inventory, including without limitation uncertainty regarding the timing and scope of proposed changes to and enhancements of the Chrome browser announced by Google, investments in new business opportunities and the timing of these investments, whether the projected benefits of acquisitions materialize as expected, including the successful integration of our acquisition of IPONWEB, uncertainty regarding international growth and expansion (including related to changes in a specific country's or region's political or economic conditions), the impact of the invasion of Ukraine by Russia, including resulting sanctions, the impact of competition, uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith, the impact of consumer resistance to the collection and sharing of data, our ability to access data through third parties, failure to enhance our brand cost-effectively, recent growth rates not being indicative of future growth, our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Contribution ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results and those risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in the Company's SEC filings and reports, including the Company's Annual Report on Form 10-K filed with the SEC on February 25, 2022, and in subsequent Quarterly Reports on Form 10-Q as well as future filings and reports by the Company. Importantly, at this time, the COVID-19 pandemic continues to have, and inflation and rising interest rates in the U.S. could have, an impact on Criteo's business, financial condition, cash flow and results of operations. There are uncertainties about the duration and the extent of the impact of the COVID-19 pandemic.
Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Contacts
Criteo Public Relations
Jessica Meyers, j.meyers@criteo.com
Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com
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