The possible sale of Criteo a third could be close. As progressed exclusively Reuters, The company has recently launched a process to search for a buyer, something that, as reported at the time BloombergNews, Criteo already tried in 2021. According to sources familiar with the situation consulted by the aforementioned news agency, the Evercore investment bank would be advising Criteo in the process.
The French company collects data through partnerships with companies, ad agencies, and/or brands, and earns money by charging advertisers when consumers click on personalized ads. In order to overcome the introduction of privacy settings on devices like the iPhone, the company has been using First-Party Media Networka system that relies on the data that consumers provide to websites, either through direct input or through cookie tracking.
Now as Google prepares to eliminate cookies in your Chrome browser next year 2024, Criteo faces new challenges. For this reason, the company continues its transformation process to move away from the retargeting based on third-party cookies on which it traditionally based its business, setting its sights on its business of retail media.
For the moment, both Criteo As the investment bank evercore They have declined to comment on the matter; however, the actions of Criteo They shot up 8% when the news was released to reach $33.65 (31.41 euros). Criteo has reported adjusted earnings before interest, taxes, depreciation and amortization of 163 million dollars (154 million euros) in the first nine months of 2022, 23% less than in 2021.
