Thursday, August 11, 2016
This Finnish Company Growing 300% Per Year Is Bidding For A Big Piece Of The $30 billion Virtual Reality-Pie
Via Business Insider: Growing at a rate of more than 300% a year makes the Finnish ad tech company Kiosked one of the fastest growing tech companies in Europe. Founded 2010 in Helsinki, Kiosked can now be found in London, Dublin, New York, Los Angeles, Singapore, Tokyo, Sydney, and Shenzhen. The success is based on an Advertising Automation Platform helping publishers improve their advertisement inventory and giving advertisers access to high performance ads and the ability to publish programmatically across many publishers at once – along with many other benefits of automation. Now Kiosked is making a move towards the virtual reality market. After Pokémon Go phenomenon noone can doubt VR and AR (augmented reality) tech will be huge. According to Tech M&A advisory firm Digi-Capital, virtual reality is expected to be a $30 billion market by 2020. Kiosked is already putting VR-products out there. In Kiosked’s immersive mobile ad campaign for Hong Kong Airlines, you can get the 360 degree VR experience of being in one of Hong Kong Airlines planes on your phone or computer. The ad campaign was a huge success, delivering 36 times higher click through rate and 9 times longer viewing time than for average mobile ads. Just like for video ads a decade ago – consumers are fascinated by the new technology. Kiosked has brought the first programmatically traded 360 ad formats to the market to solve the challenge of scaling immersive advertising campaigns. Co-founder and CSO, Antti Pasila explains: “Our 360 unit being the world’s first programmatically tradable unit of its kind means that, an advertiser utilizing this format can through us get distribution for their ad on almost any publishers site. Previously 360 creatives required a technology component been installed on the publishers site which limits a campaigns scalability. With our technology, the advertiser can get true scale and benefit from the other advantages programmatic advertising allows for (more granular targeting, real time bidding etc.). Before this, the advertiser had to make custom deals with every single publisher they wanted to run the campaign with”. Kiosked was started with goal of enhancing ad performance based on research. “Kiosked started as most company, an idea of a solution to big problem in a huge industry. Together with my Co-founder, Micke Paqvalen, we were talking about how crazy it is that on such a huge industry no one is doing anything (game changing) about the bad performance of ads when research could clearly point out that a few of the largest reasons behind the decline are that people are looking at the ads due to their poor positioning (on the periphery of the page) and their lack of relevancy (very low contextual and behavioral targeting). We quickly decided that we should make this our mission and that’s how Kiosked was born”. Kiosked is foremost an Advertising Automation Platform. That means Kiosked offers a platform that helps publishers to create better advertising inventory on their site. Kiosked’s technology analyses the publishers’ pages and creates optimized placements for the highest performing ad units. “This type of high performance ad inventory is extremely sought after by advertisers. Today, everybody is looking for a higher return on investment and the inventory we create, verifiably is that”. Kiosked has already earned the trust of some of the the world’s largest programmatic buyers, and more than 10.000 advertisers run Kiosked ads through the platform.