Criteo

Last updated
Criteo S.A.
Company type Public
Nasdaq:  CRTO
IndustryOnline Advertising
Founded2005;19 years ago (2005)
Headquarters
Paris
,
France
Number of employees
2700 (2017)
Website criteo.com

Criteo S.A. is an advertising company that provides online display advertisements. The company was founded and is headquartered in Paris, France. [1]

Contents

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 [2] R&D, and launched its first product in April 2008. In 2010, Criteo opened an office in Silicon Valley. [3] In 2012, Criteo opened its new headquarters in Paris, France. [4]

On April 7, 2011, Criteo announced that it hired Greg Coleman as president. [5] Previously, Coleman served as president and chief revenue officer of The Huffington Post and executive vice president of global sales for Yahoo!. [6]

In October 2013, the firm completed an initial public offering (IPO), raising US$251 million. [7]

On 1 January 2016, Rudelle became the executive chairman, while Eric Eichmann, who was the president and chief operating officer (COO), was promoted to chief executive officer. [8] In June 2016, Criteo alleged Steelhouse, a rival ad tech company, that the latter had falsely taken credit for user visits to retailers' web pages in a lawsuit. [9] Steelhouse countersued, alleging Criteo of false advertising and unfair competition. [10] After an injunction requested by Criteo was denied in October 2016, both parties chose to mutually dropped their lawsuits in November 2016. [9] On 4 October 2016, Criteo acquired HookLogic, a retail exchange, ad server and attribution company focused squarely on retailers, strengthening its ecommerce serving capabilities. [11]

In October 2017, Criteo appointed Mollie Spilman as COO. [12]

With the implementation of the Intelligent Tracking Prevention (ITP) feature from Apple's Safari 11 onwards in September 2017, [13] Criteo's revenue was reduced by $25 million in 2017. [14] However, Criteo reportedly was working on a “sustainable solution for the long-term” at the end of 2017, and had redesigned its "platform architecture" since. [15] Criteo was also impacted by the perception that the General Data Protection Regulation would negatively affect the company. [16]

In April 2018, Rudelle returned as the CEO, with Eichmann being his advisor. [17] Under Rudelle, Criteo slowly transitioned from a single product (web advertising) to a multi-product platform, which included in-app and email advertising. [15] [18] Criteo's revenue did not grow in 2018, and was down 1%. [19]

On 19 October 2019, Megan Clarken was appointed as the new CEO, taking over from Rudelle. Clarken would continue Criteo's transformation plan. [19]

Product

Criteo's product is a form of display advertising, which displays interactive banner advertisements, generated based on the online browsing preferences and behaviour of each customer. The solution operates on a pay per click/cost per click (CPC) basis.

In September 2010, Criteo debuted its self-service cost-per-click (CPC) bidding platform that lets advertisers place bids on display retargeting campaigns and see changes and optimize campaigns in real-time. [20] During 2020 Criteo launched a traffic generation product, which allows advertisers to advertise using purchase intent data, and it also introduced a self-service ad platform for its Criteo Retail Media division that allows advertisers to purchase media space on retailers’ websites. [21] [22]

Funding

Criteo secured a total of $17 million in funding, with €3 million in a first institutional round in March 2006 coming from French private equity firm AGF and Elaia Partners, and €9 million in a second round in January 2008 led by Index Ventures. [23]

In May 2010, Criteo raised a further $7 million of funding from Bessemer Venture Partners. [24]

Privacy

In September 2010, Criteo began a campaign [25] regarding the use of 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 is used for targeting purposes. Retargeting only uses anonymous information from the merchant's site. [25]

In 2019, Privacy International filed a complaint against Criteo, citing that it wouldn't respect the European GDPR. [26] Complaints by NOYB were also made. [27] In June 2023, the French data protection authority National Commission on Informatics and Liberty pronounced a sanction of 40 million euros against Criteo, notably for failing to check that the people whose data it processes have given their consent. [28]

See also

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References

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  22. "Criteo Launches Self-Serve Retail Media Platform". Weissbrot, Alison-AdExchanger. 27 May 2020.
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  26. "Our complaints against Acxiom, Criteo, Equifax, Experian, Oracle, Quantcast, Tapad". Privacy International.
  27. "Criteo Faces €60m Fine for GDPR Violations in France". Lexology. 2022-08-19. Retrieved 2023-06-22.
  28. "Délibération de la formation restreinte n°SAN-2023-009 du 15 juin 2023 concernant la société CRITEO". www.legifrance.gouv.fr. 2023-06-22. Retrieved 2023-06-22.

29. Tyroo announces partnership with Criteo

Further reading