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"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
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
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMarketing-tech firm Zenapse has raised $8 million in a seed round of funding to equip marketers with tools that drive sales. Zenapse provides a marketing graph that collects anonymous data about 150 million consumers, equivalent to 3.5 billion pieces of data. In another example, marketers use Zenapse's tools to test what images and copy people respond to, which Bernardini said indicates a person's emotions and beliefs. He said Zenapse wants to differentiate itself by using AI to infer emotional data that can spit insights out to brands quickly.
Persons: , Zenapse, Matthew Bernardini, Bernardini Organizations: Service, Business, Sam's, Prosper, Adobe, Naples Technology Ventures, Ben Franklin Technology Partners, Broad, BaseCamp Ventures Locations: Naples
Read previewTarget quietly rolled out a new way for advertisers to buy ads as it tries to win bigger budgets from brands. They added that Roundel Media Studio is intended to be a one-stop shop for advertisers buying search ads. Amazon runs its own ad business in-house, and retailers like Walmart, Kroger, and Albertsons have also recently taken parts of their ad businesses in-house. "Roundel Media Studio brings together many of Roundel's solutions and tools, starting with our sponsored product ads, Target Product Ads by Roundel," the landing page says. AdvertisementTinuiti's Marsten said Target needs to roll out other self-service tools to better compete with Amazon and Walmart.
Persons: , Briana Finelli, Elizabeth Marsten, Wavemaker's Finelli, Criteo, it's, Tinuiti's Marsten Organizations: Service, Media, Business, Target, Procter, Gamble, Unilever, Walmart, Kroger, Albertsons, Amazon Locations: Criteo, Wavemaker, Tinuiti
Read previewAmazon's push to grow its $47 billion ad business beyond its core search ads is starting to gain steam with advertisers. About 70% to 80% of advertisers' Amazon budgets go to search ads that drive sales, said Laura Meyer, founder and CEO of Amazon agency Envision Horizons. But Amazon is increasingly investing in adtech to grow its ad business beyond search placements and better compete with giants like Meta and Google. AdvertisementPower said that brands often spend 8% of Amazon sales on ads — mostly search ads that drive sales. He said clients are now increasing budgets to represent 12% to 15% of Amazon sales, with the incremental dollars going toward Amazon's adtech formats.
Persons: , Laura Meyer, Patrick Miller, Mark Power, Power, Horizon's Meyer, it's, Ross Walker, They've Organizations: Service, Amazon, Meta, Google, Business, Trade Locations: Acadia
In addition to Diaz, the lawsuit names Merkley+Partners and its parent company Omnicom Group as defendants. Merkley+Partners is a 30-year-old full-service ad firm that has created campaigns for brands including Mercedes-Benz, White Castle, and Florida's Natural. "You went down on me, I went down on you, we had sex," the lawsuit says Diaz told the plaintiff. The lawsuit also says O'Rear was "treated in a cruel and callous fashion" during the firm's investigation. O'Rear's attorney told BI she was no longer working at the ad agency but declined to comment further.
Persons: , Armando Diaz, Diaz, Merkley, we've, Erin Johnson, Walter Thompson, Mr, O'Rear, I'm, Armando Organizations: Service, New York, Business, Partners, Omnicom Group, Mercedes, Benz, Merkley, WPP, Industry, de Mayo Locations: New York City, Manhattan, White, de
Business Insider is compiling its annual list of rising stars transforming how digital ads are bought and sold. We're looking for up-and-comers specializing in adtech at adtech firms, brands, agencies, and publishers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWe're seeking nominations for Business Insider's third annual list showcasing the rising stars of advertising tech, and we want to hear from you. Criteria and methodologyThe list will profile talent at adtech companies, as well as adtech specialists at ad agencies, publishers, retailers, and platforms.
Persons: Organizations: Service, Business
The new missionDeveloping and scaling this cookie replacement has become the new mission for The Trade Desk, one of adtech's greatest independent success stories. While many other adtech companies offered this service, The Trade Desk over the years proved it could do it better. The Trade DeskWith cookies disappearing, The Trade Desk is approaching its first big test. These deals are typically cut with major advertising agency holding companies and don't usually include adtech platforms like The Trade Desk. "These next 12 months for The Trade Desk are going to be difficult and not the experience that you're used to," this person said.
Persons: Jeff Green, Andrew Casale, Brian Wieser, Samantha Jacobs, hasn't, There's, Tom Triscari, It's, they're, Greg Doherty, Jeff, Green, Criteo, Megan Clarken, Dan Salmon, they've Organizations: Trade, Universal, Google, Business, Exchange, Company, BI, Disney, The Washington Post, Yahoo, Wall Street, Projects, CTV, CBS, The, Arete Research, Intelligence, Variety, Street Research
Read previewThere's a lot of doom and gloom in the digital ad industry, but a handful of adtech firms are showing surprising growth. But advertisers are also bracing for Google to kill third-party cookies in Chrome browsers at the end of this year. AdvertisementThe death of third-party cookies is loomingHowever, adtech firms are also bracing for the death of third-party cookies this year, and the loss of third-party cookies isn't accurately shown in companies' earnings yet. Google killed 1% of third-party cookies from Chrome in January and plans to stop supporting them by the end of the year. Adtech firms including The Trade Desk and PubMatic haven't estimated the potential impact of cookies, but both cite cookies as risk factors in their annual reports.
Persons: , Magnite, Mark Wright, Wright, Rajeev Goel, PubMatic, Goel, Prohaska Consulting's Wright, Criteo, haven't, Todd Parsons Organizations: Service, Trade, Business, Google, Prohaska Consulting, Unity Software, CTV
Advertising tech firm tvScientific wants to prove that streaming TV ads are as effective as Meta and Google ads. TvScientific's previous investors include NBCUniversal, Norwest Capital Partners, Aperiam Ventures, and Hearst VenturesTvScientific tries to make it as easy to buy and measure streaming TV ads as it is to buy and measure Google and Meta ads. The firm specializes in technology that tracks what someone does after watching a streaming TV ad. But Meta and Google have millions of advertisers, and tvScientific wants the top 10% to 20% of Meta and Google's advertisers to be its clients. Over time, Fairchild said that he expects more big brands that buy linear TV ads for reach and frequency will also begin buying streaming TV like performance marketing.
Persons: TvScientific, Jason Fairchild, Martin Sorrell's, Hearst Ventures TvScientific, Fairchild, tvScientific, Chris Riedy Organizations: Business, Ventures, BDMI, Progress Ventures, Norwest Capital Partners, Aperiam Ventures, Hearst Ventures, Google, Meta
The ad buyers said they did not know what caused Meta's glitch. And there's no guarantee ad buyers will ever get the full amount they've lost. Advertisers continue to battle Meta glitchesThe overspending glitch is the latest in many issues advertisers have had with Meta's ad tools breaking. He estimated that he spends five to 10 hours a month per client working on Meta glitches. "If I look at where we spend most of our money across four platforms — which is Google, Microsoft, Amazon, and Meta — Meta would be the one who's the most dysfunctional," he said.
Persons: , Tom Brown, CPMs, Brown, Andrew Faris, Milo McMahon, Faris, I'm, Duane Brown, McMahon, AJF Growth's Faris Organizations: Service, Business, Meta, BRND Labs, Outdoor, Google, Microsoft
Read previewThe Trade Desk CEO and founder Jeff Green thinks that Google missed its chance to build an advertising product that works without using third-party cookies. To replace cookies, Google is pushing marketers to test cookieless ads with its own set of technologies called Privacy Sandbox. The Trade Desk wields significant influence in the digital ad industry, and Google is the company’s biggest competitor. AdvertisementHowever, The Trade Desk also sells some ad tools for publishers, which some experts say replicates Google's sprawling suite of ad products. The Trade Desk reported $1.95 billion in 2023 revenue, a 23% year-over-year growth.
Persons: , Jeff Green, Green, , we’ve, , ” Green Organizations: Service, Google, Business, Trade
Walmart is reportedly in talks to buy TV manufacturer Vizio for over $2 billion , in an effort to bolster its ad business, according to The Wall Street Journal. Here are three ways Vizio would power-up Walmart's ad business and make it a much bigger competitor to Amazon, according to several ad industry experts. While Walmart buying Vizio would grow its ads business, it would also improve the margins for its current ad business, said Nikhil Raj, chief business officer of adtech company Moloco’s retail media business. The new inventory Walmart would inherit would let it tap TV and branding budgetsIf Walmart buys Vizio, it would inherit connected-TV ad inventory, which it doesn’t currently have. Most of Walmart’s retail media business comes from search ads , though it’s expanded that to include some display and video ads.
Persons: you’ve, there’s, , Nikhil Raj, Raj, Walmart.com, ” Raj, doesn’t, it’s, ” Forrester, Nikhil Lai, Eric Franchi, Eric Seufert, Mobile Dev Organizations: Walmart, Wall Street, Amazon, Business, Vizio, CTV, “ Walmart, Walmart Connect, Connect, VC, Mobile Locations: Vizio, Walmart.com,
In today's big story, we're looking at the big business of the Super Bowl, from advertisers to the ultraweal thy . Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one. AdvertisementFor some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson. The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.
Persons: , Taylor Swift, Travis Kelce, Patrick Smith, Emily Stewart, that’s, Ryan Joe, Lara O’Reilly, Ryan, BI’s Lauren Johnson, RYU, BI’s Madeline Berg, Elon Musk, Rupert Murdoch —, VistaJet, BI’s Taylor Rains, Grace Kay, it’s, BI’s Juliana Kaplan, Cork Gaines, Usher, David Rosenberg, Quants, Getty, David Butow Here’s, Tesla, Sissie Hsiao, Bard, Gemini, Uber, Dara Khosrowshahi, Lucas Jackson, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ign, Super, Elon, Private, American Gaming Association, San Francisco 49ers, Kansas City Chiefs, Renaissance Technologies, Man, AHL, UBS, Google, Reuters, Merchants, Conference, PepsiCo Locations: Sun Valley, YOLO, New York, London
Shopify quietly announced a program last week where it will buy Google and Meta ads on behalf of its merchants. This new program, called Shop Campaigns, is the first time Shopify is providing full marketing services for its merchants. However, Shopify Audiences is only available to Shopify's large enterprise merchants to help supplement their existing ad campaigns. Shopify claims that Shop Campaigns have helped brands like Thrive Cosmetics and Caraway acquire more than 1 million customers. He compared Shopify Campaign to Meta's now defunct Audience Network, where Meta placed ads on publishers' websites outside of Meta.
Persons: Shopify, Baranauskas, , Glen Coates, James Borow, spender, Meta, They're, Borow, Mike Ryan Organizations: Google, Meta, Business, Audience Network, Facebook Locations: adtech, Meta, Shopify
ViralMoment raised funds to expand its AI-based video tools. The tools help marketers identify what people are talking about on social media. It recently identified fake, explicit images of Taylor Swift that appeared online. ViralMoment, which uses AI to analyze short-form social videos on platforms like TikTok, raised $2.5 million in seed funding. This story is available exclusively to Business Insider subscribers.
Persons: ViralMoment, Taylor Swift, Techstars, Chelsie Hall Organizations: Supernode Global, Crush Ventures, Duo Partners, Carnegie Mellon University, US Department of Defense, Department of State, Business
Amazon's data clean room for European advertisers is meant to comply with an upcoming EU regulation. Companies are racing to build data clean rooms that solve for the loss of third-party cookies. Amazon is set to launch a new privacy tool for advertisers that competes with Google and data firms. The clean room will allow advertisers to independently vet the performance of campaigns that use Amazon's data, the company said in the post. An Amazon spokesperson declined to say whether the tool would be made available in the US.
Organizations: Google, Markets, Amazon, Business Locations: EU
This is Insider's fourth-annual list recognizing the diverse up-and-coming marketing talent who will define the industry for years to come. These marketers sit below CMO level and represent a variety of roles and backgrounds, from digital media to creative. They come from brand giants like Coca-Cola, General Mills, and LG Electronics, as well as startups like Liquid Death and Mercury. But all show the potential to be the industry leaders of the future. Scroll on to see the 14 rising stars of brand marketing, listed alphabetically.
Persons: General Mills Organizations: Business, LG Electronics
Offsite ads currently make up about 15% of retail media spend and are expected to make $11 billion this year, according to Insider Intelligence, increasing to $24 billion by 2027. Kroger works with adtech firms like Magnite, PubMatic, and OpenX to sell streaming ads targeted with retail data. Retailers are riding the death of cookies and streaming TVBy increasing the audiences that see their ads, retailers are betting they can seize two major opportunities. "When cookies come out of the marketplace, where retail media shines is that we all offer large audiences of real people doing real things," said Kristi Argyilan, SVP of retail media at Albertsons Companies. Using retail data, they can target specific groups — like moms who buy specific products at the grocery store every week.
Persons: , It's, Andrew Lipsman, Roku, Kroger, Lipsman, Kristi Argyilan, Cara Pratt Organizations: Service, Intelligence, Business, Walmart, Brands, Albertsons Companies, Disney, Kroger Precision Marketing
Publicly listed data company LiveRamp's $200 million acquisition of data clean room provider Habu looks set to fire the starting pistol for a more buoyant year of adtech and martech M&A, experts have predicted. He noted that while ad teams aren't using these clean rooms en masse, many have activated them, which bodes well for the Habu acquisition. ID5's technology is deployed by the most online publishers of any identity service, according to Sincera , which measures which adtech companies are used across the industry. LiveRamp, also, could be an acquisition target, Salmon noted, as it builds out new data offerings like the clean rooms it will inherit from Habu. But not everyone is predicting the Habu acquisition will necessarily lead to an influx of M&A around cookieless adtech.
Persons: Conor McKenna, Luma's McKenna, Shailin Dhar, Dhar, Mathieu Roche, who've, InfoSum, Myles Younger, Dan Salmon, Wayne Blodwell, ID5, Roche, " Roche, Salmon, Elgin Thompson, hasn't, Thompson Organizations: Business, LUMA Partners, FIT Holdings, Companies, New, Research, Impact Media, Citizens JMP Securities, Walmart Locations: adtech, LiveRamp, Habu
Read previewPepsiCo's lemon-lime soda Starry is only one year old, but millions of US consumers will soon see its first-ever Super Bowl ad, as it battles to steal share from stalwarts like 7-Up and Sprite. AdvertisementPopeye's will use its Super Bowl spot to introduce five new chicken wing flavors. First-time advertisers are also looking beyond TVTo justify the high price of a Super Bowl ad, however, marketers invest heavily to keep the conversation going across other channels. And Popeye's, which hopes to drive people to one of its restaurants with a Super Bowl-themed promo, also hopes to extend the campaign beyond the Super Bowl. Highdive is working on BetMGM's first Super Bowl ad this year.
Persons: , Nielsen, Sami Siddiqui, Michael Smith, Bob O'Brien, O'Brien, Popeye's Siddiqui, Mark Gross, Highdive Organizations: Service, Business, Super, Kawasaki, Popeye's, Kawasaki Motors Corp, Bowl, National Collegiate Athletic
Read previewPublic data company LiveRamp has agreed to acquire five-year-old startup Habu in a cash and stock deal valued at $200 million. LiveRamp CEO Scott Howe said the deal will help LiveRamp scale and grow partnerships with the cloud companies and platforms that Habu works with — like Google, Meta, and Disney. Habu will help LiveRamp expand its base of small and midsize clients. Habu's capabilities extend beyond marketing, and its clients use its technology to support applications around supply-chain data, healthcare data, and financial services data. Howe said these use cases could help LiveRamp expand its business beyond marketing to help companies manage data more broadly.
Persons: , LiveRamp, Clark, Habu, Matt Kilmartin, Scott Howe, Howe, Vihan Sharma Organizations: Service, Business, Danone, Google, Asics, PepsiCo, Wing Venture Capital, Snowflake Ventures, Disney Locations: Kimberly
Instacart is opening up its ads program to sell targeted Google ads. Instacart's shopper data will be used to target the ads to specific groups of shoppers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Under the deal, Instacart will use Google Shopping ads to get consumers to buy products from Kraft Heinz, Danone, and others on its platform. Instacart will use its own shopper data to target consumers so it can, for instance, send an ad for Kraft Heinz's Philadelphia Cream Cheese to a repeat Instacart shopper searching for cream cheese on Google.
Persons: Organizations: Service, Google, Kraft Heinz, Danone, Kraft Heinz's, Business Locations: Kraft Heinz's Philadelphia
Amazon has increased its hiring for advertising employees after freezing hiring last year. Amazon is hiring for jobs to support new products like TV ad formats. Recent government data shows what Amazon paid for advertising roles within the US. After freezing hiring last year, Amazon has ramped up hiring for Amazon Ads — Amazon's advertising division that made $12 billion in the third quarter and is one of Amazon's fastest growing areas. As of Dec. 8, Amazon Ads had more than 400 open roles across 12 teams on its career site, up from 29 open roles in January, according to its career website.
Organizations: Amazon, Amazon Ads, Business
To use precise consumer data, advertisers now must work directly with the company that owns that data — like the retailer that knows what its customers bought or the media company that knows what its audience watched. Streamers including Netflix are building new ad businesses, while platforms like YouTube are trying to bolster their existing ad businesses with more content, such as live sports. "In a world of less data or worse data, whoever has the least-bad data wins," Brian Wieser, an advertising-industry analyst, told Business Insider. Even companies that aren't traditional retailers, such as Uber and Marriott, have kick-started ad businesses. The pandemic pushed the world to embrace streaming services.
Persons: Ana Milicevic, Brian Wieser, Sephora, Morgan Stanley, Milicevic, Neal Mohan, Vinny Rinaldi, Hershey's, Taylor, it's, Weiser, Wieser, influencers Organizations: Data, Apple, Sparrow Advisers, Walmart, Netflix, Companies, Retailers, Target, Marriott, Amazon, Major League Soccer, NFL, Columbia, Bose, YouTube, Advertising, Comcast, Hulu, Meta Locations: California, influencers
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