Readers in mobile advertising media jobs who are familiar with these pages will be aware that we tend to favor news about up and coming little companies, rather than Adland’s bigger jungle beasts. But today, we find ourselves bringing news of both types of critter: hungry giant gobbles young fledgling.
Well, Yahoo acquires startup mobile advertising tech specialist AdMovate, to be more precise. The search leviathan has moved to purchase the startup just a day or so after revealing that around 340 mobile users now engage with Yahoo every single month. So media jobs veterans working in mobile advertising agencies will doubtless agree that the acquisition kinda makes sense.
A warm welcome
Yahoo’s SVP of display advertising and advertising technology, Scott Burke, could hardly conceal his jubilation. He states, “AdMovate has created sophisticated technology that helps marketers reach their desired audience at the right time and place. This is especially important for mobile ad experiences that engage consumers on smaller screens.”
He went on, “This acquisition is part of our efforts to invest further in our ad tech platforms — Apt, Genome, and Right Media — and make buying easier for advertisers and agencies. AdMovate’s personalization technology accelerates our capabilities in mobile advertising, and we gain an exceptionally talented technical team.”
He’s probably right to be seeking new creativity, especially as Yahoo’s display ad revenue slumped by 11 percent in Q2 2013.
Mobile miracles ahead?
AdMovate’s pièce de résistance is its highly proficient ad targeting, and this talent fits perfectly with Yahoo’s growing mobile ambitions. The startup’s engineers will now move in with Yahoo’s display advertising team in Sunnyvale, and it’s hard to avoid the conclusion that this was as much a purchase of talent as it was of technology. Yahoo still relies heavily on display ads for mobile advertising, and the AdMovate team looks set to help them adapt.
Yahoo has been on something of a shopping spree since Marissa Meyer took the helm last year and seems determined to adapt and keep fully abreast of cutting edge technology. It’s been swallowing startups like a famished basking shark guzzling plankton.
Burke says that Yahoo is “thrilled” to have AdMovate on board and claims that the move will help bring new advertising products to its partners and global advertisers in the months ahead.