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Microsoft Acquires PromoteIQ in an attempt to compete with Amazon
(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)
Advertising generates the majority of revenue in the social media and searching sections of the internet market. The main players in the technology sector rely heavily on the profits they receive from ads. Facebook and Twitter have become common areas for companies to advertise because it attracts a lot of foot traffic. On Monday, August 5, 2019, Microsoft announced it had acquired PromoteIQ, a small company that has focused on aiding retailers in including ads into their online stores. They have selected retail as a key industry to focus on, attempting to increase its market share in the public cloud sector. This acquisition was made with the hope of competing better with Amazon.