Uber strengthens ad business in deal with e-commerce company Rokt
The deal comes as the ridesharing company seeks to develop its ad business after announcing that it expected revenue to reach $1 billion in 2024.
Kass
Uber Technologies is continuing to build out its ad business, striking a deal with e-commerce company Rokt to better target shoppers as they are checking out.
Uber can use Rokt’s machine learning technology to serve consumers highly relevant additional product options as they are checking out of their Uber purchase, such as receiving a discount offer from Hulu—a similar effect to picking up a piece of candy or magazine in the checkout line in a physical store. Advertisers include SiriusXM, Booking.com and Office Depot.
The partnership will start with the company’s delivery service Uber Eats in the U.S., Canada, Australia and Japan.
“The growth of our advertising business is a strategic priority for Uber and Rokt is the e-commerce technology partner that will help us achieve our ambitious goals,” said Mark Grether, general manager of Uber Ads. “This partnership will accelerate our investment in new services designed to fuel the next chapter of advertising across Uber’s in-app and real-world surfaces.”
Rokt also announced it struck a deal with AMC Theatres in March.
The company, which is headquartered in New York and is planning an IPO, has already implemented its software with AMC and will start working with Uber in September, according to Rokt's Chief Commercial Officer Elizabeth Buchanan.
The deal marks another step in Uber’s move further into the ad business and its intention to compete for advertisers’ budgets. The company hired former Sizmek CEO and Amazon executive Mark Grether in September 2021 to become general manager at Uber Ads.
