New York: Magnite, the largest independent sell-side advertising company, today announced its acquisition of streamr.ai, a platform that provides AI-powered tools to make Connected Television (CTV) advertising more accessible to Small and Medium-sized Businesses (SMBs).
The acquisition enables Magnite to offer streamr.ai’s technology to its ecosystem partners with SMB clients, including agencies, retail media networks, publishers running buyer marketplaces, and DSPs. Financial details of the transaction were not disclosed.
“The CTV advertising opportunity for small businesses is enormous, but it’s been bottlenecked by complexity and high costs,” said Michael Barrett, CEO of Magnite. “streamr.ai’s technology uses AI to accelerate this transition for SMBs, making tasks like CTV creative generation and campaign setup much easier. By offering these tools to our ecosystem partners with SMB clients, we aim to unlock a significant revenue opportunity for our CTV publishers. We’re thrilled to have the streamr.ai team join us, and we’ll continue to grow our AI expertise and capabilities across all Magnite products.”
streamr.ai’s co-founders, CEO Jonathan Moffie—formerly product lead at Wurl, OrkaTV, Yahoo, and Shutterstock—and CTO Frank Turano, formerly an engineer at Shutterstock and Dotdash Meredith, will join Magnite following the acquisition.
“Magnite is the perfect home for our technology and talent,” said Jonathan Moffie, CEO and co-founder of streamr.ai. “Magnite shares our vision for helping small businesses grow revenue through CTV advertising, and their relationships and resources will enable us to accelerate that process.”
With this acquisition, Magnite aims to leverage AI to expand CTV advertising for SMBs, provide its partners with cutting-edge technology, and continue driving long-term value for publishers and the broader ecosystem.
