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Earlier this month, the adtech firm Kevel announced that it had raised $23 million in a Series C round of funding to help retailers set up and run advertising businesses. Fourteen-year-old Kevel, formerly known as Adzerk, sells software that brands, including Klarna and Delivery Hero, pay a monthly fee for to manage advertising businesses on e-commerce websites. Kevel's products help retailers sell search ads on e-commerce websites, provide an ad server to manage and place ads, and give access to an audience tool that collects retailers' first-party data. Kevel competes with a growing number of adtech firms that help retailers stand up ad businesses, like Criteo, Epsilon, and Microsoft. Kevel doesn't sell ads, which Avery said the firm benefits from as more retailers like Target's Roundel take their ad businesses in-house.
Persons: Kevel, James Avery, Puja Rios, , Avery, Morgan Stanley Organizations: Business, Walmart, Epsilon, Microsoft, Interactive, Fulcrum, Partners, Godwin Capital Group, Iberis, Dunnhumby Ventures, Commerce Ventures
(CNN) — Upon reflection, the odd couple sensibilities that captivated viewers of “The Fresh Prince of Bel-Air” were in place even before the cameras started rolling. Smith's "Fresh Prince" fashions captured, and curated, the visual aesthetic of hip-hop culture. Uncle Phil, conversely, stuck closely to upper middle-class regalia, with suits, sweater vests, and golf polos. “You wore a dashiki and an afro.”Uncle Phil and Smith face off in a scene from the "Fresh Prince" episode "How I Spent My Summer Vacation." As DJ Jazzy Jeff & the Fresh Prince, Jeff Townes and Will Smith perform with backing dancers at the 1993 American Music Awards.
Persons: Bel, Will Smith, James Avery, , Smith, Avery, Philip Banks, Phil, Elena Romero, Chris Haston, Uncle Phil, ” Smith, , Joseph Del Valle, ” Romero, Flash, Jazzy Jeff, Jeff Townes, Banks Organizations: CNN, , NBC, Civil, Black, Museum, FIT, Fashion Institute of Technology, Getty, Black American, ” Entertainment, ABC, Smith Locations: West Philadelphia, California, United States, New York, America
One challenge CEOs see is that emerging and disruptive technology is both an opportunity and a threat. CEOs said their organizations need to be quicker to shift investments to digital opportunities and divest in those areas where their organizations face digital obsolescence. Addressing employee burnoutAnother issue CEOs said their organizations need to address is pandemic-related employee burnout from accelerated digital transformation over the past two years. "I think that there is some truth to the state of fatigue brought on by the need to quickly adopt remote work-related technology," Clark said. Rather than focus on the "right technology," organizations should aim to deploy the right mix of technology, Carande said.
Adtech firm Criteo is battling for retailers' ad businesses with new competitors like CitrusAd. E-commerce advertising is driving much of Criteo's growth, with the firm hoping to hit $1 billion in revenue from retail media by 2025. Criteo's technology has moved beyond search ads to include display ads and ads that appear off the retailer's site. Not all retailers outsource their ad businesses, creating more competition with CriteoCriteo also faces competition from retailers themselves. Some retailers don't want Criteo or CitrusAd managing their ad businesses and license technology to build ad businesses that they manage themselves.
Insider asked 12 top VCs what ad and marketing tech companies excited them the most this year. Check out the 19 most promising adtech startups, and what they do that makes them unique. It hopes to raise a Series A funding round in the coming months. Emperia is currently raising its next funding round. Why it's on the list: Tech companies are being scrutinized for their wasting energy consumption, and the digital advertising industry is no exception.
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