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The latest non-advertising company to launch an ad business comes as no surprise.
Ride-hailing app Lyft has introduced Lyft Media, to be helmed by Kenan Saleh, co-founder and former CEO of Halo Cars. Halo, a startup that places digital billboards on rideshare cars, was acquired by Lyft in 2019.
Lyft Media will serve ads to screens on top of cars, to tablets inside cars, alongside bike-charging stations – Lyft operates the NYC and San Francisco bike-share programs – as well as within the main app, of course, The Wall Street Journal reports.
Rather than being targeted to specific individuals, Lyft Media inventory will be targeted based on time and location, according to Saleh, and an undisclosed share of ad revenue will go to drivers.
Lyft has already dabbled in advertising. (It bought Halo three years ago, after all.) But the category has heated up since then.
Last September, Uber hired Mark Grether, former director of Amazon Advertising and former CEO of Sizmek, as GM of its new ad business. In January, T-Mobile acquired Octopus Interactive, which places ads on tablets in ride-share vehicles.
And Volta, an electric car charging station manufacturer, made advertising an important part of its value proposition, including across mobile, out-of-home and retail media. Makes sense, since grocers can set up Volta charging stations in their parking lots.
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