Observed Signal · Feb 3, 2023 · Portfolio Update · Source: Quo Vadis News · Impact: 2/5 · Sentiment: Neutral
Quo Vadis AdTech Month in Review: January 2023
Quo Vadis presents January 2023’s Month in Review focused on its AdTech18 portfolio and the broader adtech ecosystem. The QV AdTech18 equal-dollar portfolio has grown 312% since its Jan 2018 inception and closed January 31, 2023 ahead of the broader market. In January, six of 18 holdings advanced, led by The Trade Desk, Magnite, SFOR, Roku, and Criteo, while Zeta Global fluctuated around 17x book value. The portfolio trades at roughly 3.1x average price-to-book, with Ramp remaining positive but not green; Criteo sits about 15% below its IPO price despite overall gains. Publicis jumped ~34% on 2023 organic-growth guidance of 3–5%, while WPP and Dentsu lagged. Market context shows Nasdaq +11.5%, S&P 500 +6.6%, and QV AdTech18 +16.5% for January. The note also discusses AI-driven productivity for agencies and invites readers to join Quo Vadis+.
Monthly adtech portfolio performance update; not major market-shifting news.
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Key Takeaways & Evidence Grounding
- QV AdTech18 equal-dollar portfolio up 312% since January 2018 inception.
- January 2023: six of 18 AdTech18 holdings rose; leaders include The Trade Desk, Magnite, SFOR, Roku, and Criteo.
- Criteo is up overall but ~15% below its IPO price of $35.
- Publicis rose ~34% after earnings with 2023 organic growth guidance of +3% to +5%.
- QV18 trades at ~3.1x average price-to-book; Ramp remains positive but not green.
Connected Companies & Entities
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Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Tubi and Roku Channel to Remain Separate After Fox Acquisition
Fox Corporation's planned $22 billion acquisition of Roku will not merge Tubi and The Roku Channel. Instead, both free ad-supported streaming services will continue to operate independently, preserving distinct brands, libraries, and user experiences. The key integration step is that Roku will take over ad sales management for Tubi, creating a unified sales structure across both platforms. This move is designed to offer advertisers a single point of contact for reaching both live-leaning and on-demand-leaning audiences. Fox cites different usage patterns – The Roku Channel focuses on live channels, while Tubi emphasizes on-demand movies and series – as the reason for keeping them separate. The deal is expected to close this year, pending shareholder and regulatory approvals, and the ad sales integration will only take effect after closing.
Olyzon Launches Agentic Orchestration Platform for Advertising
Olyzon, an agentic orchestration platform for advertising, has launched its technology live in market, optimizing real advertising campaigns. The platform enables agencies and brands to orchestrate media budgets across CTV, YouTube, social, digital audio, and DOOH from a single interface, integrating with existing DSPs, SSPs, and measurement partners. It is positioned as a working example of a Unified Media Platform (UMP), connecting systems that previously operated in silos. Key integrations include Amazon DSP, DV360, The Trade Desk, Yahoo DSP, Universal Ads, Vibe, Spotify, PubMatic, Swivel.ai, DoubleVerify, Xpln, Lucid, and Innovid. The launch was announced at Advertising Week New York.
Former Utiq and Xandr/Microsoft Leader Joins illuma for AI Scaling
illuma, a London-based AI company specializing in contextual decision intelligence, has appointed Michel Guillon as head of solutions architecture. Guillon brings two decades of adtech leadership experience from Utiq and AppNexus/Xandr/Microsoft, where he worked closely with illuma's integrations. His role will help partners integrate illuma's contextual intelligence into their systems at enterprise scale, leveraging his deep knowledge of DSP and SSP architecture and data interoperability. illuma's AI technology is used by brands, agencies, publishers, and platforms to optimize advertising decisions in real time, and is available through major platforms including The Trade Desk, Equativ, Index Exchange, Amazon, DV360, Yahoo, OpenX, PubMatic, and Magnite. The appointment underscores illuma's expansion across leading advertising platforms.
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