Jim Lawson: Thank you for that question. I think the ANA issued this report in June and the June report highlighted a number of inefficiencies across open web programmatic advertising. And as most people know, the open web is comprised of digital, web and app properties as distinguished from the so-called walled garden properties, think Meta, TikTok, et cetera. The open web is great. It is a growing place for advertisers to engage with consumers, $88 billion opportunity, and many believe, many marketers, many brands believe it is a valuable alternative to walled garden user profiling. It’s been abusive. You’ve read about it, and there are a number of drawbacks to those approaches, the ID-based, user profiling-based advertising approaches of the past, but the ANA’s report also outlines a number of open web programmatic inefficiencies, which have impeded return on ad spend for many advertisers using the open web programmatic.
At AdTheorent, we’ve been saying the same exact thing for years, that there are certain common industry practices which benefit a handful of ad tech vendors more than the advertisers themselves. And for more than 11 years, we have been designing a statistics-powered and ML-powered DSP that puts advertisers first, focuses on measurable business goals such as return on ad spend, cost per action. And when we examine the ANA report, and we believe that it is a useful, very useful context to evaluate the AdTheorent business and how it is additive and different in this market. And we also believe that brands and agencies which prioritize brand ROI are taking notice of this. And this is helping us move forward, not necessarily the ANA report, but the content of the ANA report, which really underscores the value prop and the problems that AdTheorent is trying to solve in programmatic.
So, the ANA report highlights these inefficiencies around which we have built over 11 years, valuable platform and machine learning tools. And we believe that we deliver for advertisers, the truest benefit and value from open web programmatic advertising. And I would encourage you and anyone listening to read our blog post on our website, which responds to each of the ANA’s key findings in this programmatic report about programmatic. But thank you for that question, I appreciate the opportunity to talk about that topic.
John Roy: Yeah. Thanks, Jim. And one more quick question. You were talking about Chrome and deprecating cookies starting in the first quarter ‘24. Are you seeing more prospects talk about that or is it kind of quiet at this point?
Jim Lawson: A ton more. I think the – there was a stick your head in the sand aspect to it when Google started pushing back on their deadline. They’ve recently reaffirmed the deadline. It’s a year away and the Privacy Sandbox is open, the – in other words, the set of replacement tools Google has opened up for advertisers and marketers to begin working with. The cookie is going away in Chrome. And I think it behooves advertisers and marketers to have a strategy. We’ve been consulting with our customers in a very deep and thoughtful way to help them navigate this. And the good news for us is, we don’t need cookies, we don’t need audience IDs, we don’t need user profiles, we don’t need user IDs. We’re scoring impressions based on statistics.
We’ve invested a lot in the programmatic bid stream and augmenting that data string and making sure that we have a lot of data to score programmatic publisher opportunities so that we can know whether they’re going to drive outcomes for our customers. That is the business that we are in. And you take away the cookie, that helps us.
John Roy: Great. Thanks so much.
Jim Lawson: Thanks for that question.
Operator: Our next question comes from the line of Maria Ripps with Canaccord. Your line is open.
Maria Ripps: Great. Thanks so much for taking my question. I have just one. So as your self-serve product is expanding, how does your approach to sales and maybe go-to-market strategy sort of change as a result? And where do you see sort of opportunities for efficiency going forward on that front?
