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As one can expect from Apple no one knows for sure what it actually is, but if we're to speculate than it could be something based on portable Apple devices (read iPhone, and iPad).
The ad platform might give location based advertisement which would be mutually beneficial to consumers and advertisers.
In fact it would be really good for an iPhone / iPad user who is roaming in say Madison Avenue to know where a good restaurant is or where can he get a good pair of sneakers (all ads paid by advertisers).
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