© Reuters. Is Marin Software a Buy After the Instacart Ad Integration Announcement?
Online advertising company Marin Software (MRIN) is one of the latest meme stocks in the market, with triple-digit price gains over the past five days. The company’s recent integration with leading online grocery platform Instacart should facilitate its long-term growth. However, given its weak financials and share price gains on the meme craze, should one buy the stock? Read more to find out.Enterprise marketing software company Marin Software Incorporated (MRIN) is known for its flagship MarinOne platform, which facilitates advertising campaigns internationally. On June 23, the San Francisco-based company added Instacart’s advertisement ability to the MarinOne platform to facilitate direct connections between brands and customers at the point of sale. Shares of MRIN have soared 918.2% since this announcement.
Instacart is a leading online grocery platform that operates in North America, partnered with more than 600 national, regional and local retailers to offer self-service and managed ad services to more than 2,500 CPG brands.The platform’s integration with MRIN software seeks to facilitate MRIN’s goal of optimizing more than $40 billion in digital advertising spending internationally.
Regarding this integration, MRIN’s Chairman and CEO Chris Lien said, “As the leading online grocery platform in North America, Instacart is a must-have part of digital marketing strategies. We are delighted to give advertisers on Instacart the power of MarinOne to maximize return on their investment.”
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