AppNexus

Was one of the largest independent programmatic ad exchanges and ad tech platforms globally before being rebranded as Xandr under AT&T and later absorbed into Microsoft Advertising.

AppNexus was one of the most influential independent programmatic advertising technology companies in the history of digital advertising. Founded in 2007 by Brian O'Kelley and others, the New York-based company built a comprehensive, open programmatic infrastructure that enabled publishers, advertisers, agencies, and ad networks to buy and sell digital advertising inventory in real time. Its platform encompassed a full-stack suite of demand-side, supply-side, and data management capabilities, making it a central node in the global programmatic ecosystem and a formidable rival to Google's DoubleClick. At its peak, AppNexus processed billions of ad impressions daily and was widely regarded as the largest independent ad tech platform in the world. The company attracted major agency holding groups, independent trading desks, and premium publishers as clients, and it positioned itself as an open, neutral alternative to walled garden platforms. It raised over $300 million in venture funding and was frequently cited as a likely IPO candidate before AT&T announced AppNexus acquisition on June 25, 2018 (closed August 15, 2018) for ~$1.6 billion, and publicly launched the Xandr brand at the AT&T Relevance Conference on September 25, 2018. AT&T sold Xandr (including AppNexus) to Microsoft in June 2022, ending AT&T's brief ad-tech bet's ambitions to build a data-driven advertising business. Following the acquisition, AppNexus was rebranded as Xandr in September 2018, named after Alexander Graham Bell, as AT&T sought to consolidate its advertising assets including Turner Broadcasting's ad sales under a unified brand. However, AT&T's ad tech ambitions proved short-lived; Xandr was sold to Microsoft in June 2022 for approximately $1 billion. Microsoft subsequently integrated Xandr's technology and capabilities into Microsoft Advertising, effectively dissolving the Xandr brand by 2023. AppNexus's legacy lives on in the programmatic infrastructure and open-exchange principles it helped establish across the industry.