T-Mobile US acquires ridershare ad network Octopus Interactive
By Rajiv Raghunath - January 11, 2022
Octopus Interactive helps brands reach audiences through video ads presented on screens inside rideshare vehicles, providing marketers a new way to reach consumers
T-Mobile US, a leading wireless network operator delivering an advanced 4G LTE and transformative nationwide 5G network, has announced the acquisition of Octopus Interactive, the largest US network of interactive video screens inside Uber and Lyft vehicles. The media release issued by T-Mobile states “this move marks the next step for Marketing Solutions, T-Mobile’s fast-growing advertising technology business, in expanding its advertising offerings for marketers”.
Octopus Interactive helps brands reach audiences through video ads presented on screens inside rideshare vehicles, providing marketers a new way to reach consumers. Octopus’s rideshare network enables brands to execute comprehensive geotargeted campaigns across a range of highly engaged consumers. And beyond the rideshare network, this acquisition will connect T-Mobile’s Marketing Solutions group with big brands, like current Octopus clients Audible, Fox Entertainment, Philo and many more.
“Octopus allows us to highlight our library of rich media content and drive awareness amongst a younger and tech savvy demographic. We’ve seen engagement rates over 3.5% and QR codes convert extremely well given the captive rideshare environment” said Matt Stein, Head of Brand & Creative Strategy at Philo.
Moving forward, devices used by drivers in the rideshare network will be powered by T-Mobile’s network, connecting thousands of drivers across the country to the Un-carrier experience.
“With this move, we’re expanding our toolkit for marketers, meeting the needs of advertisers and empowering brands to better connect with consumers, beyond linear and traditional digital channels” said Mike Peralta, VP and GM of Marketing Solutions, a division of T-Mobile. “As the Un-carrier, we’re committed to disrupting the ad tech space. We’re making good on that commitment through innovative solutions, like Octopus.”
“We’re thrilled to join the T-Mobile team on their mission to provide better results for marketers and better experiences for consumers,” said Cherian Thomas, Co-Founder and CEO of Octopus Interactive. “Our rideshare technology will unlock massive opportunities for brands working with Marketing Solutions.”