Marin Software Inc. (MRIN) stock prices surged by 54.64% shortly after market trading commenced on July 2nd, 2021, bringing the price per share up to USD$23.32 early on in the trading day.
Collaboration with Instacart
June 23rd, 2021 saw the company announce the addition of the ability to manage Instacart Ads to its flagship MarinOne platform, facilitating the connection between brands and customers directly at the point of sale. MRIN will leverage its extensive track record to help advertisers optimize over USD$40 billion in digital advertising spend to the rapidly growing platform.
About Instacart
As the leading North American online grocery platform, Instacart is partnered with more than 600 national, regional, and local retailers, including unique brand names. The company has 55,000 stores across more than 5,500 cities across North America. Instacart offers self-service and managed ad services for more than 2,500 CPG brands, including all of the Top 25 CPG companies.
MarinOne Platform
The self-serve MarinOne platform helps generate additional demand by unifying lower-funnel marketplace advertising with paid search and paid social campaigns. The platform allows marketers to align their efforts to ensure the seamless functioning of their channels across the customer journey. With the pandemic having seen consumer habits shift, online grocery delivery skyrocketed to unprecedented levels.
Scope of Partnership
Instacart is an essential addition to the digital marketing strategy MRIN, as a leading online grocery platform in North America. MRIN is excited to give advertisers on Instacart the opportunity to maximize returns on investments with the company’s added resources. The company’s automation facilitates the accessibility of managing Instacart Ad campaigns by automatically constructing campaigns, providing alerts on performance changes, and proactively identifying opportunities for better results. The optimization tools serve to identify the most suitable levels of spend, while the best possible performance is ensured by MRIN bidding. The company’s Insight molecule automatically identifies opportunities such as Product A/B Testing in customers’ accounts, with estimates of potential value and easy implementation being provided.
Meme Stock Phenomenon
Despite the integration with Instacart Ads, the recent movement in MRIN’s stock price does not seem warranted. With an absence of any other news coverage or changes in fundamentals, it seems that MRIN is the latest target of the meme stock phenomenon that has been sweeping the stock exchange as of late. Driven by retail investors who use the social medial platform Reddit to coordinate a short squeeze in underperforming companies with high short interests. Inherent with risk and volatility, this phenomenon provides a fortuitous bump to companies that find themselves in its spotlight. Investors are hopeful that MRIN will leverage the additional resources at its disposal to usher in more organic growth.
