Criteo, a French Adtech champion, sees its stock price plummet.

The French company Criteo, specializing in retargeting, lost nearly 16% of its stock value on Tuesday, January 14, on the NASDAQ, following Google’s announcement that it would eliminate third-party cookies within two years. Yet, since 2017, the company has been seeking to diversify its revenue streams.

Apple had already penalized Criteo in 2017

This is another setback for Criteo, which in 2016 was considered the eleventh most attractive company in France and worldwide. Back in 2017, Apple had already decided to reduce the use of cookies on its search engine, Safari.

At the time, the company announced it had lost $25 million, and its spokesperson bitterly stated, ” Apple doesn’t really promote the Safari browser  .” However, in August 2019, it launched its “Privacy Sandbox” program, which also targets cookies.

On Tuesday, January 14, Google announced it would remove third-party cookies (those that originate not from the browser, but from websites visited by users) within two years from its Chrome browser, used by two-thirds of internet users. This will allow time to find a way to meet the ” needs of users, publishers, and advertisers,  ” reports CNBC.

A record drop that must be stopped as quickly as possible

The reaction was immediate for Criteo. Listed on the NASDAQ since 2013, the company’s stock plummeted to $13.68 before recovering to $15.29, a drop of 15.9% that appears to be holding steady today. The company’s market capitalization has fallen below $1 billion, its lowest level in 52 weeks.

Since the 2017 Apple debacle, Criteo has become aware of its vulnerability due to its dependence on the decisions of the GAFA (Google, Apple, Facebook, Amazon). The company began diversifying its activities to offer marketing solutions to its clients. It was in this context that Criteo acquired Hooklogic for $250 million in 2016. According to BFM Bourse, “these new solutions accounted for 11% of the group’s total revenue.” It remains to be seen whether this will be enough for the company to return to its all-time high of $56 in May 2017.