Vurve Rebrands as Lexity

Ad technology company Vurve has rebranded as Lexity and announced the launch of an intent-driven platform for e-commerce advertisers.

The ad tech industry has focused on building elaborate systems of targeting and insight-gathering without recognizing that brands don’t really care about the gee-whiz elements, according to Lexity CEO Amit Kumar.

“We were as guilty as anyone of being tech-centric,” said Kumar. “Customers asked what does that really mean for my brand when we would talk about all of these complex elements of ad tech. They wanted to know what kind of effectiveness exists for one tool over the other.”

Lexity’s new platform offers a system organized around ad intent, matching ROI measurements and insight evaluations to the stated goals of the campaign — ranging from brand lift to click-throughs. The system builds and runs campaigns across multiple channels while monitoring a range of marketing performance indicators tied to brand intent.
According to Kumar, Lexity hopes to streamline the programmatic buying and campaign-management process so that brands can focus on strategy creation rather than on the calculation of an appropriate media mix.
“We need to rephrase all of the basic elements of marketing,” said Kumar. “I was reading some research papers with recommendations for improving digital marketing, issued more than 10 years ago by several consortiums of ad agencies and academic research centers. Most of those recommendations — to reduce complexity, for example — haven’t been implemented by the industry. We are still in the dark ages.”
https://digiday.com/?p=2424

More in Media

AI Briefing: Senators propose new regulations for privacy, transparency and copyright protections

A new bill called the COPIED Act aims to pass new transparency standards to protect IP and guard against AI-generated misinformation.

Media Briefing: Publishers reflect on ad revenue midway through 2024 

Some publishers say ad revenue is pacing 15% up year over year while others are still managing their expectations for how 2024 will shake out.

Teads is exploring sale options as M&A in ad tech heats up

Sources state the Altice-owned stalwart of outstream video has recently held talks with private equity and strategic players.