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Let’s start with some history. I’m not quite sure who coined the term originally but it was primarily used to describe cross exchange buying desks & bid management solutions like Invite, Turn & DataXu.
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There are many companies who call themselves DSP’s, some already established like AdChemy, x+1 and Media Math but there are others are cropping up recently including Turn, DataXu, AppNexus and others. Most have a combination of optimization and data targeting that is geared for marketers, with a buying strategy that mostly takes advantage of inventory on ad exchanges.