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Criteo

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Criteo S.A.
Company typeSociété Anonyme
Nasdaq: CRTO
IndustryOnline Advertising
FoundedParis, France
2005; 19 years ago (2005)
Headquarters
Paris
,
France
Number of employees
2700 (2017)
Websitewww.criteo.com

Criteo is a personalized retargeting company that works with Internet retailers to serve personalized online display advertisements to consumers who have previously visited the advertiser's website. The company currently operates in a total of 30 markets around the world and is headquartered in Paris, France.[1] On April 7, 2011, Criteo announced that it hired Greg Coleman as president.[2] Previously, Coleman served as president and chief revenue officer of The Huffington Post and executive vice president of global sales for Yahoo!.[3]

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.[4]

History

Criteo was founded in Paris, France in 2005 by Jean-Baptiste Rudelle, Franck Le Ouay and Romain Niccoli. Criteo spent the first four years focused on[5] R&D, and launched its first product in April 2008. In 2010, Criteo opened an office in Silicon Valley[6] in an effort to enhance its profile in the USA.

In 2012, Criteo opened its new headquarters in Paris, France establishing one of the biggest European R&D centers dedicated to predictive advertising.[7] The center will continue to provide central support to more than 30 markets worldwide, on five continents – North America, Europe, Asia, South America and Australia.

In September 2013, the firm filed for an IPO with US regulators to raise up to $190 million.[8] In October 2017, Criteo appointed Mollie Spilman as COO.[9]

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/cost per click (CPC) basis,[10] meaning that advertisers pay only for the consumers that click on the banner and return to their website. Additional retargeting solutions operate on a cost per thousand impressions (CPM) or cost per engagement (CPE) basis.

The most common, and simple form of retargeting is basic static retargeting,[11] 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.[12] 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[13] (CPC)[14] bidding platform that lets advertisers place bids on display retargeting campaigns and see changes and optimize campaigns in real-time.

In May, 2016, Criteo launched its dynamic email retargeting to increase potential reach.[15]

The Criteo Performance Optimization Platform allowed display advertisers and agencies to set retargeting campaigns[13] 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.[16] 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 € in a first institutional round in March 2006 coming from French private equity firm AGF and Elaia Partners, and 9M € in a second round in January 2008 led by Index Ventures.[17] 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,[18] bringing the total to $24 million. WXP[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 [20] from the merchant’s site.

Achievements

Criteo won the 2010 Web Award for Outstanding Achievement in Web Development.[21] Criteo’s client Boden won the ClickZ Connected Marketing Award [22] for ‘Best Use of Display Advertising’ for its personalized retargeting campaign implemented by Criteo.

See also

References

  1. ^ "Criteo Labs: Opening Ceremony". Criteo Website. Criteo. Archived from the original on 23 January 2013. Retrieved 24 January 2013.
  2. ^ "Online Ad Exec Greg Coleman Lands at Criteo as President - Kara Swisher - News - AllThingsD". AllThingsD. Retrieved 30 March 2015.
  3. ^ http://www.digiday.com/data/stories/why-greg-coleman-bet-on-retargeting/
  4. ^ "Criteo Brings Scale To Display Retargeting Says CEO Rudelle". AdExchanger: News and Views on Data-Driven Digital Advertising. Retrieved 30 March 2015.
  5. ^ "Criteo brings its personalized banner ads to US, launches new pricing program - VentureBeat - News - by Nadia Majid". venturebeat.com. Retrieved 30 March 2015.
  6. ^ "French Retargeting Company Descends on Silicon Valley". ClickZ. Retrieved 30 March 2015.
  7. ^ "CriteoLabs: Opening Ceremony". Criteo Website. Criteo. Archived from the original on 23 January 2013. Retrieved 24 January 2013.
  8. ^ Avik Das (18 September 2013). "French ad firm Criteo files for $190 million U.S. IPO". Reuters.
  9. ^ Betz, SA Editor Brandy (2017-10-18). "Criteo announces new COO". Seeking Alpha. Retrieved 2017-11-16. {{cite news}}: |first= has generic name (help)
  10. ^ "PPC". Archived from the original on 2010-10-31. Retrieved 2010-11-16.
  11. ^ "How targeted display can extend your influence". imediaconnection.com. Retrieved 30 March 2015.
  12. ^ http://www.itvent.com/aggregator/sources/1?page=8
  13. ^ a b "Archived copy". Archived from the original on 2010-11-17. Retrieved 2010-11-15.{{cite web}}: CS1 maint: archived copy as title (link)
  14. ^ "Cost Per Click (CPC)". Marketing Terms. Retrieved 30 March 2015.
  15. ^ http://www.criteo.com/news/press-releases/2016/05/criteo-helps-marketers-boost-incremental-sales-with-dynamic-email-retargeting/
  16. ^ Allison Enright. "Web Advertising - Criteo makes placing display ads do-it-yourself - Internet Retailer". internetretailer.com. Retrieved 30 March 2015.
  17. ^ "Criteo brings its personalized banner ads to US, launches new pricing program - VentureBeat - News - by Nadia Majid". venturebeat.com. Retrieved 30 March 2015.
  18. ^ "Here Comes The French Invasion: Bessemer Puts $7 Million Into Ad Retargeting Startup Criteo". TechCrunch. AOL. Retrieved 30 March 2015.
  19. ^ "Criteo Raises $10 Million From Index Ventures". TechCrunch. AOL. Retrieved 30 March 2015.
  20. ^ a b "Criteo CEO Rudelle Responds To Recent Concerns Over Retargeting And Consumer Privacy". AdExchanger: News and Views on Data-Driven Digital Advertising. Retrieved 30 March 2015.
  21. ^ "Criteo wins 2010 WebAward for Raising the Bar for Retargeting". webaward.org. Retrieved 30 March 2015.
  22. ^ "Criteo Client Boden Wins ClickZ Connected Marketing Award". econsultancy.com. Retrieved 30 March 2015.

Further reading

  • Rudelle, J.B. (2016). They Told Me It Was Impossible: The Manifesto of the Founder of Criteo. Morrisville, North Carolina: Lulu Press. ISBN 978-1-4834-5777-2.
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