AC: I think the launch of AdX 2.0 is an example of growing the pie as opposed to stealing share from a competitor because it's going to bring lots of new sellers (AdSense and DART for Publisher sites) and buyers (anyone who uses AdWords) into the market. As those sellers and buyers get comfortable with the exchange model I think they'll begin trading on the other platforms as well, so I think this is a positive event for anyone in the exchange space.
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