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Today's news:
Ad insiders say retailers like Walmart, CVS, and Instacart are starting to chip away at Amazon's advertising stronghold in the pandemic
- Patrick Coffee and Tanya Dua report that the pandemic has benefitted new e-commerce advertising platforms like CVS and Walmart.
- Amazon still rules e-commerce, but the pandemic marks the beginning of a long-term change that could threaten its dominance of digital retail advertising.
- Driving the trend will be small to mid-sized businesses like cell phone accessory maker BGZ Brands, which was able to quickly move ad dollars to Target and paid social when Amazon restricted the shipment of nonessential items early in the pandemic.
Read the full story here.
Quibi is reportedly exploring strategic options including a possible sale
- The Wall Street Journal reported Monday that Jeffrey Katzenberg's mobile-video startup, Quibi, which raised $1.75 billion but has struggled to sign up subscribers, is considering a possible sale.
- A possible sale is one of a few strategic options the company is reportedly considering, including raising more money, and going public through a merger with a special purpose acquisition company.
- Since launching in April, the short-form mobile video app has struggled to attract subscribers.
Read the full story here.
An ad agency vet who built a market research startup just closed a $34 million Series C round as he looks to take on Nielsen and Qualtrics
- Tanya Dua reports that ad agency vet Matt Britton closed a $34 million Series C round for his marketing-tech firm Suzy.
- Marketers use Suzy to conduct market research in real-time to help with things like product development and ad testing. The new round of funding will go towards building products, hiring more people, and boosting sales and
marketing . - Suzy has reached an annual revenue run rate of $20 million, according to Britton.
Read the full story here.
More stories we're reading:
- HBO dominated the Emmys with 'Watchmen' and 'Succession' even though Netflix led in total nominations (Business Insider)
- How Hershey is using retail ad platforms like Walmart and Target to win at e-commerce in the pandemic (Business Insider)
- How to land a job in public relations in 2020 (Business Insider)
- At Yelp's Phoenix office, some insiders say a 'boy's club' atmosphere fueled racism, sexism, and a hard-partying culture — on top of regular verbal abuse from customers (Business Insider)
- 'This is for cord cutters': Discovery aims to launch Discovery+ streaming service in early 2021 (Digiday)
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— Lauren