2024-04-10 10:02:27 ET
Marin Software Inc (NASDAQ: MRIN) opened more than 60% up on Wednesday after announcing upgrades to “its integration with Microsoft Advertising”.
What we know about Marin’s upgrade
The upgrade will enable brands to ascertain “optimal level of spend” for Microsoft Advertising.
Key benefits of the integration include budget pacing and improved conversion metrics as well – as per the press release on Wednesday.
The news arrives about a week after $MRIN received shareholders approval for a 1-for-6 reverse stock split aimed at helping it remain listed on Nasdaq.
Marin stock is now scheduled to start trading on a split-adjusted basis from April 15 th .
How does the upgrade help $MRIN?
The announcement positions Marin Software to benefit as Microsoft Corp (NASDAQ: MSFT) continues to grow its market share in search on the back of its AI-enabled Copilot.
Brands committed to taking advantage of that rise in volume “need tools to simplify optimization of their accounts, enhancing efficiency and scalability”. That’s where $MRIN steps in.
All in all, Chris Lien – the chief executive of Marin Software is confident that the upgrade will help users “unlock new levels of success in their advertising campaigns.”
In February, the online advertising company said its revenue declined 16% on a year-over-year basis to $4.4 million in its fourth financial quarter . Marin shares are not very widely covered by the Wall Street.
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