DoorDash acquires ad platform, releases new AI ad tools
DoorDash is taking a number of steps to better serve advertisers participating in its retail media network.
The on-demand delivery platform has acquired ad tech platform Symbiosys and is also introducing a new suite of artificial intelligence-equipped advertising solutions. A brief summary of each action follows:
Symbiosis acquisition
Symbiosys is a retail media platform designed to help brands expand their reach into digital channels, such as search, social, and display. By purchasing Symbiosys, valued at $175 million, DoorDash hopes to bring more offsite advertising opportunities to its DoorDash Ads platform.
The self-serve Symbiosis platform lets advertisers run campaigns across search, social and display, all integrated with DoorDash’s closed-loop measurement system.
New DoorDash Ads advertising solutions
Restaurants
- New AI solutions for small-to-midsized restaurants will enable them to submit their goals, targets, and budget to DoorDash to create customized campaigns.
- Leveraging new interest and category share insights, restaurants can grow their reputation in specific food categories to expand their core customer base.
- A new report builder tool tracks marketing spend with access to detailed reports, custom insights, and summaries across channels.
- Financial reconciliation capability provides more granular data in financial reporting, including marketing spend details, to help restaurants reconcile financials.
Brands
- Sponsored brand enhancements provide new creative visuals like video formats, display images, and product carousels.
- Brand halo metrics track engagement and performance with video view metrics.
- Sponsored product ads have been expanded to global search so retailers can reach consumers actively searching for specific items within categories such as alcohol, retail, and more, making it easier for consumers to find out exactly what each participating brand offers.
[READ MORE: EXCLUSIVE Q&A: DoorDash aids customers and retailers with engagement]
"We’re building the future of local commerce advertising," said Toby Espinosa, VP of ads at DoorDash. "With new product capabilities, AI-powered tools, and Symbiosys’ offsite reach, businesses of any size can now connect with high-intent consumers seamlessly. Moving forward, every business from local owner-operators to the largest global brands will have the opportunity to grow on DoorDash and beyond with the click of a button."
Since its founding in 2013, DoorDash has expanded to more than 30 countries.
