New York-based AI Startup Chalice and San FrancisCo-based ‘Social Display’ Leader Spaceback Announce Joint Venture
Dubbed ‘Tuileries’ – New Full-Service Platform Will Blend the Creative Excellence of Social Media Ads with Data-Science-Driven Digital Targeting – While Unlocking New Marketer Budgets
Chalice an artificial intelligence company that builds custom algorithms for marketers and Spaceback a leader in social display advertising have announced the formation of Tuileries, a new joint venture designed to enable marketers to take their strongest creative assets – customized social media ads – and bring them to the open web using the industry’s most advanced, data-driven ad-buying tools.
Spaceback’s technology, which lets marketers like Deckers deploy their top-performing ads or influencer posts from platforms like Facebook, Instagram, Twitter and TikTok on millions of websites and apps. Now via Tuileries, these advertisers are able to purchase ad space using Chalice’s machine-learning-powered ad-decisioning capabilities.
This results in far more relevant – and engaging – ad experiences for consumers, and superior performance for brand marketers.
“Social is effective because the user experience is inherently all about discovery,” said Chalice co-founder and CEO Adam Heimlich. “Social apps show you things you didn’t know you wanted until they popped up in your feed. The same thing has been hard to achieve in programmatic for two reasons: The ads aren’t rich enough, and buying algorithms are too simplistic. Tuileries has solved both problems, so you can wield the power of discovery in the open web.”
The two partner companies believe that Tuileries will be able to tap into brands’ social budgets which are typically allocated toward social platforms – i.e. the ‘Walled Gardens’ – while at the same time tapping into a broader range of programmatic spending. The Tuileries name is derived from the famous open garden in Paris.
Chalice and Spaceback are backed by several common investors, including MathCapital, and have increasingly collaborated frequently over the past year. For example, CEO Casey Saran said that since his company doesn’t offer media buying services, his team consistently refers clients to Chalice.
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“Our products are highly complementary,” he said. “So this came together very naturally.”
Chalice and Spaceback plan to put more investment toward Tuileries over the coming year, including the development of a “Discovery Engine” that will be designed to help brands unearth new audiences and new potential lines of business via advanced machine learning technology.
Chalice empowers forward-thinking brands to own their success with transparent, tailored and intelligent algorithmic ad buying. Leveraging brand-specific KPIs, protected insights, and predictive analytics, Chalice’s lightweight tech layer is designed to help brands get ahead — and stay ahead — of their competitors. Chalice’s founders are industry veterans from New York who share a passion for the democratization of machine learning.
Spaceback’s automated creative platform connects the power of social media to the trillions of daily advertising opportunities outside of the walled-gardens. Digital Marketers use Spaceback to authentically recreate social media experiences across the open web using their existing media buying stack. Social Display ads leverage the power of social media to engage audiences and generate superior performance compared to standard banner ads.
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