DoorDash acquires ad tech platform Symbiosys in $175M deal

DoorDash (DASH) is launching its most significant update to its advertising platform to date, introducing a new suite of AI-powered tools and announcing the acquisition of ad tech platform Symbiosys to expand offsite advertising capabilities. The company said, “Symbiosys is a next-generation retail media platform that helps brands expand their reach into digital channels, such as search, social, and display, and enables retailers to extend the breadth of their retail media networks. These updates reflect DoorDash’s bold investment in global ad technology-empowering businesses with greater control, clearer results and insights on their performance, and new ways to connect with customers both on and beyond the platform.” What’s New and Upcoming in DoorDash Ads: For Restaurants: SMB restaurant merchants provide us with their goals, targets, and budget, and then our AI solutions will do the heavy lifting to create customized campaigns that deliver results. Leveraging new insights, restaurants can grow their reputation in specific food categories to expand their core customer base. Easily track marketing spend with access to detailed reports, custom insights, and summaries across channels. Providing more granular data in financial reporting, including marketing spend details, to help merchants reconcile financials easily. Brands: Stand out to consumers scrolling in-app with engaging new creative visuals like video formats, display images, and product carousels. Gain deeper insights and measure brand impact with Brand Halo Metrics. Track engagement and performance with Video View Metrics. Reach consumers actively searching for specific items within categories such as Alcohol, Retail, and more, making it easier for people to find exactly what each brand offers. Grow Offsite Reach: The acquisition of Symbiosys, valued at $175M, brings more offsite advertising opportunities to the DoorDash Ads platform. Symbiosys’ self-serve platform lets advertisers run campaigns across search, social, and display, all integrated with DoorDash’s closed-loop measurement system. With Symbiosys, brands can reach consumers beyond the DoorDash app and help drive incremental off-platform sales with greater transparency and control.