Criteo sticks with Facebook after being downgraded by the social giant
French-based adtech platform Criteo issued a comment on its Facebook relationship, stating that it will continue to work with the social media giant despite being downgraded several months ago.
Criteo responds to Facebook downgrade
The statement read: “Criteo continues to work with Facebook through integration with the Facebook platform. The change in Criteo's partner status with Facebook does not impact its ability to buy inventory for clients on the Facebook platform.
“In the second quarter of 2018, Revenue ex-TAC generated from inventory purchased on the Facebook platform was 4% of Criteo's Revenue ex-TAC.”
Criteo’s worth dropped considerably after Facebook decertified the company as a marketing partner on July 1. According to a story by Bloomberg, Criteo was down by as much as 16%, falling to $21.40 in intraday trading, but rebounding slightly after cutting some losses to down 11%.
The report stated that Criteo was decertified because the integration offered didn’t fit Facebook’s priorities anymore.
This comes after the company grew in the early part of the year but predicted slower growth after GDPR was implemented.
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