[jbl]

There are lots of ways to organize companies in the ad tech space, but I like to think of them based on what masters they serve. (FWIW, I've been working in ad tech for the last three years)

One of the big divides is serving advertisers vs. serving publishers. The Kawaja/Luma Partners slide that is oft cited shows how various companies fit into this divide. Advertiser (or buy-side) tech generally tries to optimize on ROI ... driving revenue per ad dollar spent. On the publisher side, tech tends to be about driving higher impression prices... finding the right buyers for the impressions you serve.

Another divide in my mind is tech that is designed for brand advertising vs. tech designed mainly for direct response. Brand advertising is typically what you see in national TV ad spots or in the full page adverts in magazines. The SuperBowl ad spots are emblematic of this. On the other hand, you have adverts that are more about offering a particular product or service with a concrete offer (Two for one, 10% off for referring a friend, etc.).