Draft:CitrusAd
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CitrusAd is a retail media platform founded in 2017 in Brisbane, Australia. It introduced auction-based bidding systems to facilitate sponsored product placements within retailer e-commerce websites. The platform enabled retailers to monetize digital assets while offering brands direct access to online shoppers.[1] In July 2021, CitrusAd was acquired by Publicis Groupe for $205 million as part of its strategy to expand its retail media offerings.[2]
History
[edit]CitrusAd was founded by Brad Moran and Nick Paech to address the growing need for retailers to generate revenue from their e-commerce platforms. The platform launched with a real-time auction system, enabling brands to bid for sponsored product placements within retailer e-commerce search engines. This innovation created a competitive marketplace for brands while providing retailers with a new advertising revenue stream.
The platform was adopted by major retailers, including Woolworths, Coles, Target, and Sainsbury's, which helped CitrusAd establish its position as a significant player in the retail media industry. These partnerships showcased its scalability across diverse markets and industries.
During the COVID-19 pandemic in 2020, the rapid growth of e-commerce drove increased demand for retail media solutions.[3] CitrusAd doubled its revenue during this period and launched GroceryOne, a media hub that unified multiple grocers under one platform.[4] Representing $60 billion in retail sales, GroceryOne enabled brands to manage campaigns across several retailers through a single interface.[5]
In 2022, CitrusAd partnered with Publicis Groupe's Epsilon to launch a unified retail media platform that combined on-site and off-site advertising capabilities.[6] This platform was rebranded as Epsilon Retail Media in 2024, further expanding CitrusAd's global reach and influence[7]
Platform and technology
[edit]CitrusAd provides a self-serve platform that allows retailers to manage advertising inventory and enables brands to bid programmatically for ad placements. Its open API integrates with demand-side platforms (DSPs) such as Skai,[8] Perpetua, and Pacvue,[9] broadening access to premium advertisers and increasing programmatic bidding opportunities.
The platform also offers closed-loop measurement and real-time analytics, enabling brands to evaluate advertising performance and optimize return on ad spend (ROAS). This approach improves efficiency and reduces wasteful spending for brands while maximizing revenue for retailers.
Industry context
[edit]The rise of retail media networks has transformed how retailers generate revenue from their digital platforms. By leveraging first-party shopper data, retail media has provided brands with direct access to high-intent consumers. CitrusAd's early adoption of auction-based bidding systems placed it at the forefront of this transformation, helping retailers establish new revenue streams and enhance advertising efficiency.
Significance
[edit]CitrusAd played a pivotal role in advancing retail media networks, enabling retailers to transform their e-commerce platforms into revenue-generating digital assets. By partnering with leading retailers such as Woolworths, Coles, Target, and Sainsbury's, CitrusAd bridged the gap between brands and consumers in an increasingly competitive online shopping environment.
Recognition and awards
[edit]- ANZ High Growth Startup Award (2020)[10]
- Grocer Gold Awards: Technology Initiative of the Year (2021)[11]
- Deloitte Fast 50 (2021)[12]
- Technology Scale-up of the Year (2021)
Acquisition by Publicis Groupe
[edit]In 2021, CitrusAd was acquired by Publicis Groupe for $205 million.[14] The acquisition allowed CitrusAd to operate as a standalone business within Publicis's Epsilon division, making it a cornerstone of the group's retail media strategy. Post-acquisition, CitrusAd expanded its offerings globally, integrating its on-site retail media capabilities with Epsilon's off-site advertising solutions to create a comprehensive advertising platform.
References
[edit]- ^ Brisbane-based Citrus wins global business and tier 1 retailers in Australia including Dan Murphy's to its online advertising platform
- ^ Publicis Groupe Buys Retail Media Platform To Hook Its Identity Into Epsilon
- ^ CitrusAd: The world's fastest growing retail media platform running on Google Cloud
- ^ CitrusAd connecting CPG brands to shoppers across multiple grocers
- ^ Publicis Groupe launches unified on/off-site retail media platform CitrusAd
- ^ Publicis Groupe launches unified on/off-site retail media platform CitrusAd
- ^ Epsilon Updates Retail Media Platform Powered by Advanced Tech
- ^ ,Kenshoo Integrates with CitrusAd's open API to Expand Global Retail Media Offering
- ^ Pacvue Integrates with CitrusAd
- ^ 2020 Lord Mayor's Business Awards winners - Choose Brisbane
- ^ Grocer Gold Awards 2021: Technology Initiative of the Year
- ^ https://seermedical.com/wp-content/uploads/Deloittes-Tech-Fast-50-2021-Winners-Report.pdf
- ^ Technology Scale-up Awards 2022 Launch Announced
- ^ Publicis Groupe Buys Retail Media Platform To Hook Its Identity Into Epsilon