IP addresses have traditionally been used as an indicator of device or network geographic location. Geo-IP data has been used in the online advertising industry since the beginning to help publishers determine if a user is located in San Francisco or London. The IP address contains no personally identifiable information (PII) and is generally used for more general targeting purposes to reach larger groups of users by geographic location, network type, connection type, business type, etc.
IP addresses are nothing like web cookies, and only identify devices on a network. The IP address does not contain any personally identifiable information and does not track or store any consumer usage or behavioural information.