Criteo

Criteo
Criteo
Type Private
Industry Online Advertising
Founded Paris, France, 2005
Headquarters Palo Alto, California, USA
Website www.criteo.com

Criteo describes itself as a 'personalized retargeting company' that works with Internet retailers to serve personalized online display advertisements to consumers that have previously visited the advertiser's website. The company currently operates in several countries around the world and is headquartered in Palo Alto, CA.[1][2] On April 7, 2011, Criteo announced that it hired Greg Coleman as president.[3] Previously, Coleman served as president and chief revenue officer of The Huffington Post and executive vice president of global sales for Yahoo!.[4]

Criteo enables online businesses to follow up visitors who have left their website without making a purchase using personalized banners which aim to drive potential customers back to the business website.[5]

Contents

History

Criteo was founded in Paris, France in 2005 and spent the first four years focused on [6] R&D, and launched its first product in April 2008.

In 2010, Criteo relocated its headquarters [7] to Silicon Valley in an effort to enhance its profile in the USA. The move took place four months after launching [8] the 'PPC Retargeting Solution'.[9]

At the time of its move, the company had 120 employees, with offices in Italy, The Netherlands, and the U.K. Almost one year later, Criteo has 350 employees with offices in 20 countries including US, Europe and Asia.

Product

Criteo’s product is a form of display advertising. Their personalized retargeting solution displays interactive banner advertisements, generated based on the online retail browsing preferences and products for each customer. The solution operates on a pay per click (PPC) / cost per click (CPC) basis, meaning that advertisers pay only for those consumers that click on the banner and return to their website. Additional retargeting solutions operate on a cost per thousand (CPM) or cost per engagement (CPE).

The most common, and simple form of retargeting is basic static retargeting [10], where a single static banner is shown to all viewers who have left a particular website. Retargeting specialists then introduced a slightly more complex form of segmented retargeting [11] This second generation of retargeting enables to display one of a few pre-created messages to lost visitors based on a particular browsing category they fall into.

In September 2010, Criteo debuted its self-service cost-per-click [12] (CPC) [13] bidding platform that lets advertisers place bids on display retargeting campaigns and see changes and optimize campaigns in real-time.

The Criteo Performance Optimization Platform allowed display advertisers and agencies to set retargeting campaigns [14] based on category, and allow advertisers to bid a different CPC per product category. This is similar to Google AdWords, but for display retargeting ads.

Criteo’s platform allowed for cost-per-click bids to be set down to the individual product level [15]. For example, if a retargeted ad displays three products the consumer had browsed on the site, a different cost can be assigned to each product displayed within the single ad.

Funding

Criteo has secured a total of $17 million in funding, with 3M euros in a first institutional round in March 2006 coming from French private equity firm AGF and Elaia Partners, and 9M euros in a second round in January 2008 led by Index Ventures.[16] The company displays over 4 billion banners per month but does not disclose the geographical breakdown for those banners.

In May 2010, Criteo raised a further $7 million of funding from Bessemer Venture Partners,[17] bringing the total to $24 million.[18]

Competitors

According to the VentureBeat article, some of Criteo's competitors include MediaFORGE, which is priced on a CPA basis, Fetchback, which has a more flexible pricing model, and Retargeter, which charges a flat monthly fee [19]

Privacy

In September 2010, Criteo began a campaign [20] regarding the use of the popular retargeting and its impact on consumer privacy. The campaign aimed to reassure consumers about personalized retargeting and data-driven marketing tactics.

The company denies it relies on personally identifiable information (PII) and doesn’t track identifiable information, no data is shared with advertisers or publishers and no third-party data used for targeting purposes. Retargeting only uses anonymous information [21] from the merchant’s site.

Achievements

Criteo wins 2010 Web Award for Outstanding Achievement in Web Development – September 2010 [22]

Criteo’s client Boden won the ClickZ Connected Marketing Award [23] for ‘Best Use of Display Advertising’ for its personalized retargeting campaign implemented by Criteo.

References

  1. ^ http://www.clickz.com/3640039
  2. ^ http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=125695
  3. ^ http://kara.allthingsd.com/20110407/former-yahoo-aol-huffpo-sales-dude-greg-coleman-lands-again/
  4. ^ http://www.digidaydaily.com/data/stories/why-greg-coleman-bet-on-retargeting/
  5. ^ http://www.adexchanger.com/platforms/criteo/
  6. ^ http://venturebeat.com/2010/04/09/criteo-brings-its-personalized-banner-ads-to-us-launches-new-pricing-program
  7. ^ http://www.clickz.com/clickz/news/1708656/french-retargeting-company-descends-silicon-valley
  8. ^ http://venturebeat.com/2010/04/09/criteo-brings-its-personalized-banner-ads-to-us-launches-new-pricing-program/
  9. ^ http://venturebeat.com/2010/04/09/criteo-brings-its-personalized-banner-ads-to-us-launches-new-pricing-program/
  10. ^ http://www.imediaconnection.com/content/25806.asp
  11. ^ http://www.itvent.com/aggregator/sources/1?page=8
  12. ^ http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=136034&nid=118810
  13. ^ http://www.marketingterms.com/dictionary/cost_per_click/
  14. ^ http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=136034&nid=118810
  15. ^ http://www.internetretailer.com/2010/09/23/criteo-makes-placing-display-ads-do-it-yourself
  16. ^ http://venturebeat.com/2010/04/09/criteo-brings-its-personalized-banner-ads-to-us-launches-new-pricing-program/
  17. ^ http://techcrunch.com/2010/05/06/criteo-bessemer-7-million/
  18. ^ http://techcrunch.com/2008/01/15/criteo-raises-10-million-from-index-ventures/
  19. ^ http://venturebeat.com/2010/04/09/criteo-brings-its-personalized-banner-ads-to-us-launches-new-pricing-program/
  20. ^ http://www.adexchanger.com/online-advertising/criteo-ceo-rudelle/
  21. ^ http://www.adexchanger.com/online-advertising/criteo-ceo-rudelle/
  22. ^ http://www.webaward.org/winner.asp?eid=15931
  23. ^ http://econsultancy.com/us/press-releases/5150-criteo-client-boden-wins-clickz-connected-marketing-award

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