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DoorDash Buys Symbioysis to Bolster Billion-Dollar Ad Business
- DoorDash acquires advertising tech company Symbiosys for $175 million.
- The acquisition aims to strengthen DoorDash's billion-dollar ad business.
- DoorDash's ad business generates over $1 billion in revenue per year.
- Symbiosys, founded by a former Google Ads product director, enables brands to place ads on platforms like Facebook and Google.
- DoorDash will offer advertisers the ability to manage their ad spaces on various platforms as well as on DoorDash's website and app.
- New offerings for restaurant and brand clients include AI tools for campaigns, targeting, and discounts.
- For brands, DoorDash introduces 'sponsored brand enhancements' with engaging visuals like video formats and product carousels.
- DoorDash's recent acquisitions include SevenRooms and Deliveroo to expand its global commerce platform.
- Through acquiring Deliveroo, DoorDash aims to strengthen its global position in commerce.
- The Deliveroo deal will provide DoorDash with local expertise in over 30 countries and access to 42 million monthly users.
- DoorDash plans to cover more than 40 countries with a combined population of over 1 billion people.
- The acquisitions align with DoorDash's strategy to enhance its services and global reach.
- The acquisition of Symbiosys is part of DoorDash's efforts to innovate and grow in the advertising space.
- DoorDash CEO sees the acquisitions as opportunities to empower local businesses with tools for growth.
- The company aims to provide businesses with customized campaigns and marketing solutions.
- DoorDash envisions offering seamless advertising options for businesses of all sizes.
- With the acquisitions, DoorDash seeks to expand its reach and offer new opportunities for merchants worldwide.
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