Microsoft Invest

A major independent DSP with roots in AppNexus, historically positioned as a premium, transparent alternative to walled-garden programmatic platforms, now being merged into the Microsoft Advertising Platform.

Microsoft Invest traced its lineage through one of AdTech's most storied acquisition chains: AppNexus, founded in 2007 as a pioneering independent ad tech platform, was acquired by AT&T's Xandr division in 2018, rebranded as Xandr Invest, and subsequently acquired by Microsoft in 2021. Under Microsoft's ownership, the DSP was rebranded as Microsoft Invest and positioned as a premium programmatic buying platform with deep access to curated inventory, advanced audience targeting, and cross-screen campaign management capabilities. It served agencies, trading desks, and enterprise advertisers seeking sophisticated programmatic execution across display, video, native, and connected TV. As a DSP, Microsoft Invest offered buyers access to a vast global supply ecosystem, including premium publisher inventory through the Xandr Marketplace, robust data integrations, and tools for audience curation and deal management. Its Curate product allowed media owners and data providers to package and monetize inventory programmatically. The platform was particularly valued for its transparent, open-auction model and its strong foothold in premium and direct-sold inventory environments, differentiating it from walled-garden alternatives. Microsoft announced the sunset of the Xandr DSP — previously known as Microsoft Invest and Curate — effective February 28, 2026, signaling a strategic consolidation of all buy-side investment activity into the Microsoft Advertising Platform. Rather than a dead-end shutdown, this represents a fold-in of buy-side capabilities into Microsoft's broader advertising ecosystem, which emphasizes native search, audience, and retail media products. The move reflects Microsoft's broader strategic pivot toward integrating advertising more tightly with its owned-and-operated properties, AI-driven targeting, and the Microsoft Advertising suite.