Digital advertising firm Teads posts revenue rise as it looks to fend off tech giants
Digital advertising firm Teads has posted a 30 per cent jump in revenues for the full-year as it looks to win back market share from Facebook and Google.
The media platform pulled in revenues of €365m (£314m) last year after extending its reach to 1.4bn global monthly users and more than 90 per cent of UK internet users.
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The firm, which counts publishers such as CNN, Bloomberg and Reuters among its clients, has positioned itself as a rival to tech giants Google and Facebook, which dominate the online advertising market.
“There is a growing need in the industry for brand safe alternatives to user generated content giants like Facebook and YouTube,” said executive chairman Pierre Chappaz.
“We’re excited that both advertisers and publishers have partnered with Teads as a trusted and powerful alternative.”
Last year Teads added the BBC, Vice and The Economist to its roster of publishers, as well as opening new offices in Hong Kong and the Netherlands.
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The firm’s growth comes as the advertising industry rolls out a campaign to crack down on fraud and improve brand safety amid fears businesses are losing trust in online adverts.
In addition, the government has called on the Competition and Markets Authority to launch a probe into the digital advertising sector amid fears over a lack of transparency and the dominance of tech giants.