Xandr (Microsoft Invest/Curate)
The former AppNexus exchange, owned by Microsoft, which shut its DSP in 2026 and kept its sell-side tools.
New York, USA · founded 2007 · about.ads.microsoft.com
What Xandr (Microsoft Invest/Curate) does
Xandr began as AppNexus, one of the earliest programmatic exchanges, then was bought by AT&T in 2018 and sold to Microsoft in 2022. Microsoft rebranded its tools as Microsoft Invest (DSP), Curate and Monetize (sell-side).
In 2025 Microsoft announced it would close the Invest DSP, which shut down by February 2026, keeping Monetize (a publisher ad server and SSP) and Curate (for packaging supply for buyers).
How it makes money
Fees on media transacted through its Monetize and Curate platforms.
Where it meets invalid traffic
Applies inventory-quality and IVT filtering across its exchange and was a founding supporter of transparency standards.
Products
- Microsoft Monetize
- Microsoft Curate
- Microsoft Invest (closed 2026)