In its second-largest acquisition, Amazon buys the company for $970 million.
MyBuys is looking to expand beyond delivering personalized product recommendations on retail sites and into serving up personalized banner ads across the web. Its first step: purchasing Veruta, which operates a personalized ad platform.
MyBuys is looking to expand beyond delivering personalized product recommendations on a retail site and into serving up personalized banner ads across the web. Its first step: purchasing Veruta, which operates a personalized ad platform. The purchase price was not revealed.
"MyBuys is unmatched in understanding consumer preferences and connecting individuals with the right products that they want to buy," says Robert Cell, CEO of MyBuys. "Veruta brings proven remarketing technology, access to scores of networks, and optimized inventory bidding to ensure brands reach consumers in the most effective manner.”
MyBuys is not wasting any time in using the technology it gained from the Veruta. It today announced a new predictive remarketing display ad service. Remarketing is the process of showing consumers who leave a site without purchasing targeted ads based on the items they viewed, products they placed in their carts, the ways they navigated a web site, purchase history or other information.
Existing MyBuys customers will be offered the new Predictive Remarketing service. Veruta’s existing customers will be able to use MyBuys’ services to offer predictive, personalized recommendations for their web sites and e-mail campaigns.