DoorDash Expands Ad Platform With $175M Symbiosys Acquisition, AI Tools

DoorDash Inc. (NASDAQ:DASH) is one of the best Fortune 500 stocks to buy according to billionaires. Earlier in June, DoorDash announced an expansion of its advertising platform, which included the acquisition of ad tech startup Symbiosys for $175 million. The move is aimed at supporting DoorDash’s off-site advertising capabilities while using DoorDash’s closed-loop measurement system. This enables advertisers to reach consumers beyond the DoorDash app and drive incremental off-platform sales.

The acquisition is a strategic step for DoorDash to vertically integrate advanced advertising technology. Symbiosys built software to help retailers sell off-site advertising, promoting products from brands. This deal allows DoorDash advertisers, from local restaurants to global consumer packaged goods/CPG brands, to expand their reach across digital channels.

DoorDash also unveiled a new suite of AI-powered tools for its advertising platform. For restaurants, these tools include features for campaign creation, targeting based on specific goals and budgets, and discount management. DoorDash and Wolt Ads currently serve over 150,000 advertisers in more than 30 countries. In 2024, their combined advertising revenue run rate exceeded $1 billion, making DoorDash the fastest-growing retail media network in history.

DoorDash Inc. (NASDAQ:DASH) is a commerce platform that connects merchants, consumers, and independent contractors internationally.

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Disclosure: None. This article is originally published at Insider Monkey.