What you need to know in advertising today
The company is pumping $40 million of fresh capital into GBS, the web-video venture it rolled out in 2015 as something of an alternative to Vice Media. That brings CNN's investment total to $70 million overall, and values GBS in the neighborhood of $250 million, Bloomberg reported, though CNN is the sole owner/investor.
To read more about how CNN plans to expand GBS, click here.
In other news:
Travis Kalanick has resigned as Uber's CEO. The resignation comes amid a spate of crises that the company has faced in the past few months.
Pinterest is pushing its visual search engine for the real world - and it could upend the advertising business. The company is putting a big emphasis on Lens, and the visual search technology behind the product.
Snapchat's new maps feature shows you where your friends are. The feature, announced Wednesday, will let the app's 166 million users share their locations with each other, according to a company blog post.
Burger King's Google Home Whopper stunt has won a big advertising award. The campaign nabbed the Grand Prix in the Direct category at the Cannes Lions, elbowing out State Street and McCann's "Fearless Girl."
Nokia is pivoting, reports Digiday. The former mobile phone giant now wants to be known for its digital wellness and VR ventures.