Criteo Welcomes The French Competition Authority Decision Restoring Partner Status and Partner Access to Meta Ad Inventory

Rhea-AI Summary

Criteo S.A. (NASDAQ: CRTO) announces a favorable ruling from the French Competition Authority, reinstating its partnership with Meta following a complaint initiated in September 2019. As a result, Criteo regains its ad buying capabilities on Facebook and Instagram, ensuring fair competition. The decision includes commitments from Meta to re-establish Criteo's partner status and allow access to the bidding API. This aims to create a level playing field in the industry and prevent self-preferencing by Meta. Criteo expresses optimism about collaborating with Meta to enhance ad inventory for clients.

Positive

• Reinstatement as an authorized partner with Meta allows Criteo to resume ad buying capabilities on Facebook and Instagram.
• Meta's commitments ensure fair competition by restoring access to Criteo and similar companies.
• Re-offering of the bidding API enables Criteo to optimize ad buying across Meta platforms.

Negative

• None.

NEW YORK, June 16, 2022 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the Commerce Media company, welcomes the French Competition Authority's favorable decision released today to accept commitments offered by Meta (previously Facebook) to address the authority's competition complaint relating to Meta's termination of its ad buying partnership with Criteo. As part of the accepted commitments, Criteo will be reinstated as an authorized partner, restoring the company's ad buying capabilities on Facebook and now Instagram.  Today's news follows a complaint initiated by Criteo in September 2019.

"We are very pleased with today's decision from the French Competition Authority to accept Meta's commitments. Positive outcomes such as this can ensure that large platforms like Meta operate with partners and the ecosystem with open and fair competition and without self-preferencing. We appreciate the continuing work and expertise in this case and in our industry by the French Competition Authority. Meta ultimately proposed strong commitments to address our complaint and we look forward to once again partnering with Meta to buy ad inventory on their platforms on behalf of our clients using our data and leading ad buying optimization technologies," commented Ryan Damon, Chief Legal Officer at Criteo. 

The objective of the original complaint was to recreate a level playing field for the industry by restoring Criteo and other companies' ability to access Meta's Facebook platform on fair terms and establishing clear and transparent guidelines to prevent the platform from unfairly favoring its own services on its platform at the expense of its competitors.

As the French Competition Authority stated in its own release available here, Meta has agreed to a series of commitments which apply to Criteo and any other similar harmed companies in France, among them: 

• Re-establish Criteo's partner status and badge with Meta.
• Re-offer the same bidding API to Criteo to enable the company to utilize its own buying optimization technologies and its own data to buy ad inventory across various Meta platforms, including Facebook and Instagram for Criteo's advertiser clients.
• Use this bidding API to run ad campaigns on the platform globally.

About Criteo  
Criteo (NASDAQ: CRTO) is the global commerce media company that enables marketers and media owners to drive better commerce outcomes. Its industry leading Commerce Media Platform connects 22,000 marketers and thousands of media owners to deliver richer consumer experiences from product discovery to purchase. By powering trusted and impactful advertising, Criteo supports an open internet that encourages discovery, innovation, and choice. For more information, please visit www.criteo.com.  

Contacts
Criteo Investor Relations 
Melanie Dambre, Investor Relations, m.dambre@criteo.com 
Criteo Public Relations 
Jessica Meyers, PR, Americas, j.meyers@criteo.com  

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SOURCE Criteo

FAQ

What is the significance of Criteo's partnership reinstatement with Meta?

Criteo's reinstatement as a partner with Meta allows the company to access ad inventory on Facebook and Instagram, enhancing its advertising capabilities.

When did Criteo initiate its complaint against Meta?

Criteo initiated its complaint against Meta in September 2019.

What commitments did Meta agree to after the French Competition Authority's ruling?

Meta committed to re-establishing Criteo's partner status, re-offering the bidding API, and ensuring fair competition among advertisers.

How does the French Competition Authority's decision affect Criteo's business?

The decision positively affects Criteo's business by reinstating its ability to buy ads on Meta platforms, which is crucial for its operations.

What platforms are affected by Criteo's renewed partnership with Meta?

Criteo's renewed partnership affects its ad buying capabilities on both Facebook and Instagram.