MICROSOFT ACQUIRES PROMOTEIQ
- August 7, 2019
- Posted by: Lead Contributor
- Category: Uncategorized
Microsoft has acquired the New York-based PromoteIQ, a startup that assists retailers in building digital and e-commerce offerings, for a specific price.
PromoteIQ brings with it a roll of big-name customers, including Kroger, Kohl and Overstock.com. The company will continue to operate as PromoteIQ but will become a division of Microsoft Advertising.
The Vice President of Microsoft Advertising Rik van der Kooi revealed that PromoteIQ “pioneered the private marketplace approach to digital vendor marketing.” He added that “PromoteIQ technology strategically complements Microsoft’s current retail advertising offerings, and together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity.”
Earlier this year, Microsoft separated its advertising division from its search engine Bing, to signify that the organization has ambitions beyond search.
The change happened almost a year after the debut of Microsoft Audience Network, a program that uses artificial intelligence and data from Microsoft services including Bing, MSN, Outlook, Skype and LinkedIn to help advertisers target native ads to specific audiences based on their online activities.