NEW YORK, May 20, 2021 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the global technology company powering the world's marketers with trusted and impactful advertising, today announced it has acquired Mabaya, a leading retail media technology company that powers sponsored products and retail media monetization for major ecommerce marketplaces globally.
The acquisition of Mabaya is an important building block of Criteo's Commerce Media Platform strategy, expanding Criteo's ability to help marketplace sellers and brands drive more product sales, while enabling retailers and marketplaces to grow new retail media revenue streams. Mabaya's technology complements Criteo's leading Retail Media solutions, which help omnichannel retailers, brands and agencies deliver first-party data-powered advertising on e-commerce websites and apps, as well as delivers offsite advertising to engage shoppers throughout every stage of the shopper journey. With the acquisition of Mabaya, Criteo can now offer retail media solutions optimized for the unique needs of marketplaces and marketplace sellers as well as brands. Additionally, Mabaya enhances Criteo's ability to serve traditional omnichannel retailers as they grow their own online marketplace businesses.
"Criteo already powers the largest open retail media ecosystem outside of the walled gardens, and with the acquisition of Mabaya, we can now better serve the needs of marketplaces and their sellers," said Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo. "Marketplaces serve an essential function of helping consumers discover and purchase the widest assortment of products. Supporting this rapidly growing market segment is a tremendous growth opportunity for Criteo. With the addition of Mabaya's technology to our solutions, no company is better positioned than Criteo to address the massive retail media market opportunity."
Accelerated by the e-commerce boom, Criteo Retail Media has seen strong business momentum as it grows its footprint across more than 100 global retailers, +120 agency partners, including the big five holding companies, and over 1,000 brands. In 2020, Criteo Retail Media grew 53%, generating $400 million in advertising revenue for retailers and $3.3 billion sales for brand advertisers amid an increasingly competitive e-commerce market. Criteo Retail Media's growth dramatically accelerated to 122% year-over- year in the latest quarter.
Jonathan Kogan, CEO at Mabaya: "We have been developing and offering state-of-the-art tools to help marketplaces engage sellers and brands with Sponsored Product ads and monetize their traffic. Criteo's technology, global scale and footprint will provide us the exciting opportunity to build on the momentum we've created over the last years, scale up rapidly to new markets and offer additional solutions that are integrated with Criteo's technology."
Mabaya is a leading technology company providing a self-service media monetization platform for marketplaces and retailers. Headquartered in Tel Aviv, Israel and backed by lool ventures, Mabaya serves hundreds of millions of sponsored product ads every month for major e-commerce sites worldwide. For more information, please visit https://www.mabaya.com/
Criteo (NASDAQ: CRTO) is the global technology company powering the world's marketers with trusted and impactful advertising. 2,500 Criteo team members partner with over 20,000 customers and thousands of publishers around the globe to deliver effective advertising across all channels, by applying advanced machine learning to unparalleled data sets. Criteo empowers companies of all sizes with the technology they need to better know and serve their customers. 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, uncertainty regarding international growth and expansion, 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 Revenue 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 26, 2021, 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 a significant impact on Criteo's business, financial condition, cash flow and results of operations. There are significant uncertainties about the duration and the extent of the impact of the virus.
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.