LoopMe, a leading technology company that uses artificial intelligence (AI) to improve brand advertising performance, announced that it has been granted two patents for the novel technology enabling its Intelligent Marketplace for buyers and sellers. The first patent, “Automated Hybrid, Optimized Advertising Auction System and Method,” is for LoopMe’s innovative approach to advertising auction bid floor and bid value optimization in real-time, a method that is outperforming human operators and other systems in operation. The patent has been validated against state of the art research by big tech and major universities at AdKDD, one of the biggest global machine learning conferences, along with receiving the best paper award at the event.
“Our newest patent increases market efficiency by automatically setting real-time auction parameters – a significant advancement for the programmatic advertising ecosystem,” said Dr. Leonard Newnham, Chief Data Scientist at LoopMe. “Correctly setting the bid floor results in fewer wasted bids and fewer requests being sent by DSPs. Since a large DSP can receive many billions of requests per day, the reduction of costs can be substantial.”
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In real-time advertising auctions, correctly setting the bid floor, which is the lowest bid a bidder can make, is important as it communicates the minimum price to have a reasonable chance of getting an advertiser’s ad placed on a mobile device. If the bid floor is set too low, bidding becomes inefficient as it encourages low bids that have no chance of winning. The systems are continuously updating over 1 million parameters to dynamically and rapidly respond to changing market conditions and behaviors, far outperforming any human.
The second patent, “Real-time Bidding,” was granted to LoopMe for the unique capability of setting an optimal bid price for each individual ad request in real-time auctions. This feature enhances efficiency and allows LoopMe to safely and accurately outbid competitor bids to the publisher, which ultimately increases the win rate. This means more of the DSPs connected to LoopMe will get more ads displayed on user devices.
“Less than a half of patent applications pass the scrutiny of the U.S. patent office – so having two new patents granted is a big win for LoopMe,” added Newnham.
Both of LoopMe’s new patents reinforce the company’s leading position in the programmatic advertising market, enabling the latest technology behind LoopMe’s AI-led Intelligent Marketplace, which was shown to yield a 40x increase in DSP buying efficiencies. The Intelligent Marketplace manages more than 300 billion ad requests per day and serves 50,000+ leading apps and sites for clients like Magnite, PubMatic, StackAdapt, Xandr and Unity. With over 2 billion monthly active users in its DMP, the Intelligent Marketplace also enables access to all DSP partners to LoopMe’s Marketplace Audiences and its proprietary first-party data.
SOURCE: Businesswire