Microsoft's PromoteIQ, once promising, faced closure due to low profit margins, as the company shifts focus towards profitability after unsuccessful post-acquisition performance.
Lynne Kjolso emphasized that despite the closure of PromoteIQ, Microsoft Advertising will still provide retail media inventory through third-party partnerships, especially with Criteo, ensuring advertisers maintain access.
Andrew Lipsman pointed out that PromoteIQ had a robust reputation pre-acquisition, known for its customizable architecture, but post-acquisition changes led to talent and client attrition.
PromoteIQ's acquisition by Microsoft in 2019 aimed to enhance retail advertising effectiveness, but initial successes did not translate into sustainable growth, prompting a strategic pivot.
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