JOLT

Shell Closes Volta Media and Charging Network Amid Refocus

Shell is shutting down Volta Inc.'s Volta Media advertising network and dismantling its charging network as it refocuses on high-speed public charging at Shell-branded sites. Shell acquired Volta in 2023 for $169 million. Volta Media operated at more than 2,000 charging stations with advertising screens. The shutdown is planned by November 2025 for Volta Media, and Volta’s charging network will be dismantled this year. All 190 Volta employees will be laid off, with some eligible to reapply at Shell. Volta previously IPO’d via SPAC in 2021 at a $2 billion valuation but faced a market downturn and losses, reportedly around $140 million per year by end-2024. The move highlights challenges in retail media and DOOH within the charging ecosystem.

Taxi TV Goes Viral: TikTok Takes Over Cabs

Curb Mobility announced a partnership with TikTok to bring TikTok user-generated content to Taxi TV, the network of over 15,000 in-taxi screens across 65 US markets. The initiative extends TikTok’s 'Out of Phone' DOOH program and will feature lifestyle videos, light news commentary, and sports coverage curated to maintain brand safety. Taxi TV operates on medallion-equipped taxis only, with content timing designed to avoid impressions when no passengers are present. Advertisers can purchase interstitial TikTok inventory directly, while creators featured on Taxi TV gain exposure rather than a direct revenue share. Curb claims Taxi TV delivers 184 million monthly impressions. The partnership complements TikTok’s broader strategy of extending video content to traditional screens, alongside existing integrations with Loop TV, ReachTV, GSTV, and Volta Charging.

Ad Tech M&A Slows: Signs of Market Maturity Emerge

Ad tech M&A in 2023 was described as weak, with deal activity down 38% from 2022, despite a 78% QoQ uptick in Q1 per LUMA Partners. The year signals a maturation of the ad tech market, shifting from growth-at-all-costs to 'efficient growth' amid regulatory uncertainty, valuation normalization, and macro turbulence. Notable 2023 deals included Samba TV selling its media sales arm to MiQ; InPlayer acquired by JW Player; Volta acquired by Shell USA; Tinuiti acquiring Ampush; and other cross‑media moves like OpenWeb buying Jeeng and Perlu in Publicis’ CJ unit. The article also highlights Infillion’s $22M purchase of MediaMath’s bankrupt DSP/DMP unit and ends with industry rumors such as a potential Paramount-Warner Bros. Discovery merger. Overall, the tone emphasizes a cautious but more selective deal environment and market maturity.