Magnite, a sell-side advertising company, has acquired Streamr.ai, a platform specializing in AI tools that allow Connected Television (CTV) ads to access small and medium-sized businesses (SMBs). Magnite provides Streamr.ai technology to Ecosystem Partners working with SMB, including agents, retail media networks, publisher buyer marketplaces, and DSPs.
“The opportunities for CTV advertising for small businesses are enormous, but bottlenecked by complexity and high cost,” said Michael Barrett, CEO of Magnite.
“Streamr.AI's technology uses AI to accelerate this transition for SMB, making tasks like CTV Creative Generation and campaign setup much easier. By providing these tools to SMB clients and ecosystem partners, we aim to unlock substantial revenue opportunities for CTV Publishers.
Jonathan Moffie, co-founder and CEO of Streamr.ai, is CTO Frank Turano, formerly a product lead at WURL (acquired by Applovin), Orkatv, Yahoo, Shutterstock, and an engineer at Shutterstock and Dotdash Meredith, joins Magnite.
“Magniit is the perfect home for our technology and talent. Magniit shares its vision to help small businesses increase revenue through CTV ads. Their relationships and resources can accelerate that process.”
“We believe that Magnite's acquisition of Streamr.ai will leverage AI to expand CTV ads, enhance cutting-edge technology for company partners, and create exciting opportunities to continue to promote long-term value in publishers and the broader ecosystem,” he added.
The financial conditions for the transaction have not been disclosed.
