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Goldman Sachs Invests $75M In Contextual Advertising Technology Company GumGum

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Goldman Sachs Invests $75M In Contextual Advertising Technology Company GumGum
  • Goldman Sachs Group Inc (NYSE: GS) Growth has invested $75 million in contextual advertising technology company GumGum to fast-track the growth of its contextual intelligence advertising product suite.  
  • Demand for GumGum's contextual advertising technology was fueled by the phase-out of cookies and other audience targeting technologies based on personal information.
  • GumGum will utilize the investment to expand the availability of its proprietary contextual API & contextual powered Display, Native, Video (OTT & Web) products. The company will also develop and fast-track investments in key international markets.
  • GumGum worked with over 100 major brands and 1200 leading publishers. Goldman Sachs Growth will join GumGum's existing investors Upfront Ventures, NewView Capital, and Morgan Stanley Expansion Capital.
  • Price action: GS shares traded lower by 0.90% at $328.85 on the last check Tuesday.
 

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