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UK digital marketing firm The Croud Group is working with the investment bank GP Bullhound to search for a new private-equity investor, according to multiple sources familiar with the matter. Croud is already PE-backed, having taken on a 30 million pound, or around $28 million, minority investment from LDC in 2019. This story is available exclusively to Business Insider subscribers. But unlike some of its closest competitors, Croud hasn't been particularly acquisitive since it took on LDC's investment in 2019. "The valuation expectations would have been very high for Croud," Rosie McKeith, SI Partners director, told Business Insider.
Persons: Bullhound, Croud, Luke Smith, Smith, Ben Knight, Greg Paull, it's, Croud hasn't, Rosie McKeith, McKeith, OakNorth Organizations: Business, OakNorth Partners, HSBC, Campaign, Harvest, Croud, Ford, Guinness, Impakt Advisors, Partners Locations: LDC, Ford Europe, Dubai, OakNorth
"Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business," Reddit wrote in its IPO filing. The company said advertisers were attracted to Reddit due to its "high-intent" audience, much of which is hunting for product recommendations. And elsewhere, Reddit doesn't have the kind of e-commerce structure that Meta, TikTok, and Google have built, experts said. It has poached ad talent from companies like Pinterest and Meta to grow its ad business. Also last year, Jim Squires, a former longtime Meta ad exec, joined Reddit in a new role as EVP of business marketing and growth.
Persons: it's, Reddit, Reddit hasn't, Brad Kay, Reddit didn't, haven't, TikTok, Jerry Daykin, Daykin, Carly Carson, Reddit doesn't, Anthony Macro, Harold Klaje, Klaje, Jim Squires, Jeff MacDonald, That's, MacDonald, PMG's Carson Organizations: Google, Business, Brand, Meta, Beam Suntory, PPC, Reddit, YouTube Locations: Meta
The rise of AI-powered search could transform the internet. If AI-powered search catches on, it will upend the practice of search advertising. Right now, not a lot seems to have changed on the ad landscape, despite the media frenzy around the new AI search tools. Bannister doesn't think AI-powered search will change advertising drastically in the short term, but even small changes can have an impact on business. Sutton is cautiously optimistic though that the addition of AI to search queries on Bing and Google Search won't impact publishers like Gannett, which owns mostly news sites.
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