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Meta rally and Temu and Shein correction
  + stars: | 2024-01-31 | by ( ) www.cnbc.com   time to read: 1 min
Vincent Lee is president of digital advertising firm Advantage Unified Commerce. An earlier version misstated the firm's name.
Persons: Vincent Lee Organizations: Unified Commerce
Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.
Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta
Plaid taps Adyen executive to lead its European operations
  + stars: | 2023-11-21 | by ( Ryan Browne | ) www.cnbc.com   time to read: +3 min
U.S. financial technology firm Plaid has hired former Adyen executive Brian Dammeir as its new head of Europe, the company told CNBC exclusively. Plaid, which was last valued by investors at $13.4 billion in a funding round, offers technology that enables financial technology apps to retrieve data from people's bank accounts and initiate payments on their behalf. Dammeir told CNBC. Bandourian, a former Booking.com executive, was appointed the company's first head of Europe last year. Payments has been a big focus for Plaid beyond financial data, with payment volumes on the platform having climbed more than 90% in 2023.
Persons: Plaid, Brian Dammeir, Dammeir, Ripsy Bandourian, Keith Grose, Dammeir didn't Organizations: CNBC, San, Plaid Locations: Europe, San Francisco, fintech, Adyen, North America
From arts and entertainment to health and wellness, businesses across industries are tapping into financial technology to drive growth. Below are three tips to help enterprises stay informed on the latest financial technology trends, while delivering value to their customers and employees. Choosing a single payment platform is a good starting point for increasing agility, but the type of platform you choose matters. Taking the next stepFor businesses looking to scale amid a changing economic landscape, a single financial technology platform isn't just a choice; it's a necessity. Learn more about how Adyen's single payment platform can help your enterprise meet the evolving needs of customers and businesses.
Persons: , Pepe Jeans, Vázquez Cabezas Organizations: Enterprise, Terme, Federal Reserve Bank of San, Connect, Marketing, Insider Studios Locations: Federal Reserve Bank of San Francisco, Adyen
By Brian Dammeir, global head of unified commerce at AdyenWhat do customers want? And more than 40% of retailers have seen a decrease in customer loyalty due to rising inflation. Below are three ways omnichannel businesses can leverage financial technology platforms embedded with smart data analytics to power their personalization strategy. To eliminate these complexities, retailers can consolidate customer payments and data insights under a single unified technology platform. Click here to access the full report and find out how Adyen's unified technology solutions can help your business achieve financial success.
Persons: Brian Dammeir, it's, that's Organizations: Global, Insider Studios Locations: Adyen
DTC brands' ad spend is moving from Meta to Amazon with new urgency. That trouble has led to more ad budgets going to Amazon during the holiday season, according to direct-to-consumer brands and ad agencies. Because Meta ads haven't been able to drive website sales, DTC brands are now selling on Amazon. Naim added that his DTC brands have moved between 20% to 30% of ad spend from Facebook and Google into Amazon during the fourth quarter. Amazon has massive limitations for DTC brandsWhile Amazon can generate sales for DTC brands, it also has disadvantages.
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