Octopus Interactive was acquired by T-Mobile for an unspecified cost as part of the operator’s effort to expand its advertising network. Octopus Interactive manages the video screens in Uber and Lyft vehicles, which display advertising, games, driver information, and weather forecasts.
T-Mobile claims that Octopus Interactive has the largest network of screens in Uber and Lyft vehicles in the United States and that free tablet PCs offered to taxi drivers will be connected to its network.
T-Mobile’s Marketing Solutions division will take over the company. Mike Peralta, its VP and General Manager, stated that the acquisition strengthens the company’s advertising technology capabilities.
T-Mobile boasted that the Octopus Interactive network reaches more than 5 million monthly passengers and touted a typical demographic of clients aged 18 to 49 with an annual salary of $130,000.
Octopus Interactive’s existing customers include Audible, Fox Entertainment, and the streaming service Philo.
“Octopus allows us to highlight our library of rich media content and drive awareness amongst a younger and tech savvy demographic. We’ve seen engagement rates over 3.5% and QR codes convert extremely well given the captive rideshare environment” said Matt Stein, Head of Brand & Creative Strategy at Philo.
“With this move, we’re expanding our toolkit for marketers, meeting the needs of advertisers and empowering brands to better connect with consumers, beyond linear and traditional digital channels” said Mike Peralta, VP and GM of Marketing Solutions, a division of T-Mobile. “As the Un-carrier, we’re committed to disrupting the ad tech space. We’re making good on that commitment through innovative solutions, like Octopus.”
“We’re thrilled to join the T-Mobile team on their mission to provide better results for marketers and better experiences for consumers,” said Cherian Thomas, Co-Founder and CEO of Octopus Interactive. “Our rideshare technology will unlock massive opportunities for brands working with Marketing Solutions.”