Colateral Partners with Turbyne to Innovate Retail Media
Colateral has reached a pivotal milestone by acquiring Turbyne, creating a groundbreaking retail media operating system built for in-store solutions. This synergy aims to help retailers enhance their competitiveness against giants like Amazon in the retail media landscape. By integrating their strengths, Colateral and Turbyne have devised a system that aims to eliminate the barriers retailers face when managing both in-store and digital advertising.
Creating a Unified Operating System
This new integration unifies various advertising channels, allowing retailers to seamlessly manage their physical advertising inventory alongside digital platforms. The combination of Turbyne’s innovative planning and execution capabilities with Colateral’s established in-store inventory management provides an efficient solution geared towards maximizing the effectiveness of advertising efforts. Retailers will now have access to a comprehensive system that streamlines operations and enhances reporting across multiple channels.
The Potential for Expansion
The merger is ideally timed, as it coincides with the initiation of multiple key partnerships, including collaboration with a prominent European supermarket chain boasting over 700 stores. Additionally, the solution is already operational with notable U.S. retail partner Sprouts Farmers Market, which operates 410 stores across 23 states. Together, these ventures extend Colateral’s reach to nearly 10,000 retail locations globally, bringing a wealth of opportunities for growth.
Leadership and Vision
In light of the merger, the new organization is excited to announce the onboarding of Michael Harris as the President. Harris is a distinguished marketing and media executive with extensive experience in driving growth and innovation within the retail sector. He is particularly well-versed in retail media and digital transformation, making him a perfect fit to lead the initiatives post-acquisition.
Transformative Solutions at the Forefront
As the mastermind behind Turbyne’s launch within Advantage Solutions, Harris is equipped with deep insights into the retail media framework. He emphasizes the need for a comprehensive solution that not only integrates digital and in-store experiences but also simplifies processes for brands. This is especially critical as retailers are continually seeking ways to capture more retail media advertising dollars.
Empowering Retailers to Compete
Dorian Spackman, the Founder and CEO of Colateral, expressed enthusiasm over the integration, believing that the fusion of Colateral and Turbyne positions the company at the forefront of retail innovation. He emphasizes the importance of cohesive customer messaging at the point of purchase, suggesting that their combined resources present an opportunity to lead this next generation of retail media systems.
About Colateral
Established in 2015, Colateral provides retailers with a platform designed to streamline the planning and utilization of marketing inventory while simultaneously boosting revenue through in-store retail media.
About Turbyne
Founded in 2022 as part of Advantage Solutions, Turbyne specializes in simplifying the planning, selling, and execution of retail media across various channels. This capability empowers retailers to engage meaningfully with their audiences through both physical and digital mediums.
Contact: Marc Walkin, marc@colateral.io
Frequently Asked Questions
What is the recent acquisition by Colateral?
Colateral has acquired Turbyne, creating a new retail media operating system focused on integrating in-store solutions with digital channels.
How will this acquisition benefit retailers?
The merger will enable retailers to manage their marketing efforts more efficiently, enhancing their ability to compete for retail media advertising dollars.
What are the key features of the new system?
The new system offers a standardized approach to managing both physical and digital advertising, improving the workflow and reporting processes for retailers.
Who is leading the new combined entity?
Michael Harris has been appointed as the President of the newly formed company, bringing significant expertise in retail media and marketing.
What makes this merger significant in the retail landscape?
The partnership positions Colateral and Turbyne to create a comprehensive omnichannel advertising solution, vital for retailers adapting to the changing marketplace.
