PromoteIQ is an automated product marketing platform for e-commerce that helps retailers and brands work together more effectively. Its client list include Kroger, Kohl’s, Office Depot, B&H Photo and Overstock.com. Today, Microsoft announced that it has acquired PromoteIQ. PromoteIQ will continue to support its retailer clients and their brand partners. Also, PromoteIQ will maintain its brand and become part of Microsoft Advertising.
“Our combined entities have a tremendous opportunity to redefine and deliver the next generation of vendor marketing to retailers and brands. Microsoft brings industry leading AI and machine-learning capabilities, as well as a strong global retail market footprint. We’ll have more plans to share on this front in the coming months, but we are confident that this acquisition will accelerate PromoteIQ’s growth and expand Microsoft’s reach and scale globally,” wrote PromoteIQ founders.
“PromoteIQ has pioneered the private marketplace approach to digital vendor marketing. PromoteIQ’s technology strategically complements Microsoft’s current retail advertising offerings, and together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity,” wrote Rik van der Kooi, CVP, Microsoft Advertising, in a blog post.