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<ul><li>S4Capital has merged <keyword id="6927804" type="UNKNOWN" weightage="20" keywordseo="MediaMonks">MediaMonks</keyword> and <keyword id="7349373" type="UNKNOWN" weightage="20" keywordseo="MightyHive">MightyHive</keyword> into Media.Monks.</li><li>The new brand will be represented by a dynamic logo mark that features MightyHive’s iconic hexagon.</li><li>The single brand emphasizes a shared heritage in creative content and roots in <keyword id="11781581" type="UNKNOWN" weightage="20" keywordseo="data-digital">data &amp; digital</keyword>, while unifying a team of nearly 6,000 digital-first experts working as a single P&amp;L across 57 talent hubs in 33 countries.</li></ul>S4Capital has launched its unitary brand by merging MediaMonks and MightyHive into Media.Monks, represented by a dynamic logo mark that features MightyHive’s iconic hexagon. The single brand emphasizes a shared heritage in creative content and roots in data &amp; digital, while unifying a team of nearly 6,000 digital-first experts working as a single P&amp;L across 57 talent hubs in 33 countries. As the operational brand, Media.Monks underpins S4Capital’s agility, digital knowledge and efficiency and is the next step in delivering on its foundational promise to unify content, data &amp; digital media and technology services. <keyword id="11781578" type="UNKNOWN" weightage="20" keywordseo="s4capital-plc">S4Capital plc</keyword> (SFOR.L) will remain the financial brand, publicly listed on the London Stock Exchange and deployed amongst investor, financial and banking stakeholders and in reports. “The traditional, analogue holding company model is over 70 years old, dating back to Marion Harper and IPG in the 1950s and cries out for disruptive change. Digital has altered the landscape permanently and brands need a different type of organization to execute and show up for their customers at every moment in the journey––purely digital, with data-driven creative and content, faster, better, cheaper, and with a single P&amp;L,” says Sir <keyword id="172904" type="PERSON" weightage="20" keywordseo="Martin-Sorrell">Martin Sorrell</keyword>, S4Capital Executive Chairman. “So far, S4Capital has brought together 24 companies that have each disrupted their industry in complementary ways, buying into our mission to create a new age/new era advertising and marketing services model and disrupting the old.” Earlier this year, the company launched its API-inspired organizational structure, designed to ignite collaboration and fuel innovation by connecting its different types of teams: countries, core, client, categories, capabilities and corporate. The hexagon, previously representative of MightyHive, has been adapted to symbolize this structure and the six components it connects. A system for scale, the API combines disciplines globally to provide Media.Monks clients seamless access to subject matter experts, while creating ownable space for S4Capital’s ambitious merger model and the entrepreneurs that join. <keyword id="11781580" type="UNKNOWN" weightage="20" keywordseo="Kenny-Griffiths">Kenny Griffiths</keyword>, Managing Director Data and Digital Media APAC, Media.Monks said, "With Media.Monks, we’re doing something unlike anything the market has ever seen before, connecting the dots across the entire organization to operate as one single office. Both the dot and the hexagon align perfectly with who we are as a business—where we come from and where we’re headed. Our APAC team has a very strong focus on innovation, and it’s moving incredibly fast, so I can only imagine where this unitary approach will take us. We’re ready to better serve clients with the flexibility of our new brand, changing how the work gets done as we always have." <keyword id="11781579" type="UNKNOWN" weightage="20" keywordseo="Michel-de-Rijk">Michel de Rijk</keyword>, CEO APAC, S4Capital commented, "With our new joint brand, Media.Monks, we’re unifying all our pillars under the same identity. It’s how we’re bringing all our teams together, and how we’re introducing ourselves to the world as we keep challenging the industry with the entrepreneurial mindset that characterizes every single one of S4Capital’s brands. Based on a unitary structure, our strategy will provide brands across all industries with the capability to adapt and deliver with speed-to-market—which is ultimately what the new era calls for. Together with the world’s most innovative and forward-thinking brands, Media.Monks will push the boundaries and transform the market through a model that grants 100% access to the best talent with flexibility and speed." “The single brand was not a boardroom decision. It involved input from a broad range of teams and talent, and many of our founders,” explains Media.Monks Co-Founder Wesley ter Haar. "For our people, this means they’re all colleagues and can build amazing careers across the globe and keep going and growing. For our clients, it means they keep the same team and the day-to-day they love—but now have even simpler access to an amazingly deep pool of specialist talent. Consolidation is an engine to innovate and this makes it easier to help our clients show up better for theirs." The API is reflected in the new dynamic logo mark that activates a flexible brand framework in which "media" becomes a variable. Teams within the six operational components can personalize and express themselves within the framework using a new internal tool, Brand.Lab. The addition of the dot represents a point of connection between diverse talent with different experiences and expertise, and encourages freedom of expression through a malleable framework. “Integrating the MightyHive hexagon into Media.Monks is a great representation of our unitary team, but even more so it reflects our operational model,” says Media.Monks Co-Founder Chris Martin. “We’ve built a structure where our people have clear, ownable space, to represent themselves and the work they do, but without the traditional fights and frictions that are built into more traditional models. Hexagons are one of nature's ways of maximizing the properties of strength and space efficiently, and that's exactly what we're offering clients: the most efficient model to help them consolidate their efforts in content, data&amp;digital media and technology services.”

S4Capital merges MediaMonks and MightyHive into Media.Monks

<ul><li><keyword id="743769" type="PERSON" weightage="20" keywordseo="Sir-Martin-Sorrell">Sir Martin Sorrell</keyword> announced the launch of media consultancy firm, <keyword id="7349373" type="UNKNOWN" weightage="20" keywordseo="MightyHive">MightyHive</keyword> in Mumbai.</li><li>He spoke about <keyword id="6575085" type="UNKNOWN" weightage="20" keywordseo="S4-Capital">S4 Capital</keyword>'s areas of focus and the four principles that they follow</li><li>Sorrell is optimistic about the Indian market which is growing at a faster rate than other markets and has a great potential</li><li>He shared that their focus will be on developing a new era, new-age model and on disrupting the traditional business approach model. </li></ul>After being at the helm of WPP for close to three decades, Sir Martin Sorrell launched S4 Capital, a digital advertising and marketing services company. In India currently, Sorrell has made two strategic announcements, firstly that of its global content practice MediaMonks acquiring Delhi-based content creation and production company WhiteBalance, and secondly, the launch of media consultancy MightyHive’s new office in Mumbai that will be led by <keyword id="8360841" type="UNKNOWN" weightage="20" keywordseo="Smita-Salgaonkar">Smita Salgaonkar</keyword>. While addressing a press meet, Sorrell spoke about S4 Capital’s areas of focus and the guiding principles. “We are currently focusing on two things, firstly on developing a new era, new-age model and secondly, on disrupting the traditional business approach model. We have four core principles. One is purely Digital. We’re not interested in any traditional activity. India is an interesting market because here Digital accounts for 20% of the market whereas globally it’s around 40%. However, while Digital is growing at around 30-35%, traditional is growing at high single digits and the overall industry is growing at about 10-12%. It’s not as rapid a growth as we've seen in the past but it’s still very strong in a worldwide context. It’s different because the market is still dominated by traditional media but with digital coming up fast,” he said. Delving deeper into their principles, Sorrell said, “Our second principle is this model that we have of first party data driving the development of digital content and programmatic. We're interested in personalization of advertising and marketing at scale. That’s on the content and programmatic side. The third fundamental principle is a tagline, ‘Faster, Better, Cheaper’, which sounds a bit simplistic but it really has traction with clients. To my mind, those are the things the clients are really focused on. We have been looking at industry trends and the thinking is dominated by those three things. So ‘faster’ is about agility. Old legacy companies are looking for their organizations to become more agile. ‘Better’ is about understanding the digital ecosystem. There are around 14-16 companies like Google, Facebook Amazon, Tencent, Apple and Microsoft, that we’re focused on and we have to agnostically evaluate those companies for our clients because that's how they distribute their digital. So understanding those companies is about ‘better’. And then the final area is ‘cheaper’ and becoming more cost efficient. And the fourth principle is a unitary structure instead of a fragmented one.” Sorrell also spoke about the increasing need of transparency in business which he said will help reduce the penalties being imposed on agencies by clients for not being able to fulfill their promises. While not disclosing the absolutes, he shared that S4 Capital has had a good 10 months and the last two months have especially been good. “We are now up to a market capitalization of $1.1 billion. We have 2000 people in 26 countries. So we’ve had a good start in just a little over a year. I’m very pleased with the progress but there’s a lot more work to do,” he said. Globally, S4 Capital has won some major new clients including Sony Pictures, Coca-Cola, HP, Google, and Apple, among others.

We're interested in personalization of advertising and marketing at scale: Sir Martin Sorrell

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Slaven Vlasic/Getty ImagesSir Martin Sorrell</div></div></div><ul class="summary-list"><li>The spirit of creative disruption that characterizes Burning Man is akin to the changes sweeping through the <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> industry today, according to Sir Martin Sorrell.</li><li>The head of S4 Capital, <a href="https://www.theguardian.com/media/2018/dec/04/martin-sorrell-s4-mightyhive-wpp">which just announced its second acquisition in the form of ad tech company MightyHive Tuesday morning</a>, said that the advertising industry has to go through radical change.</li><li>Sorrell also addressed how S4 has been going around pitching itself to investors, saying that S4 was like "a motor torpedo boat" versus legacy advertising businesses. </li></ul>What does the advertising industry have in common with Burning Man? More than you'd think, according to Sir Martin Sorrell.The spirit of creative disruption that characterizes the <a href="https://www.businessinsider.com/what-its-like-going-to-burning-man-for-first-time-photos-2018-9">annual pop-up creativity festival</a> is akin to the massive changes currently sweeping through the advertising industry, the former WPP chief said in a conversation with Business Insider UK editor-in-chief Jim Edwards at Business Insider's IGNITION Conference in New York on Tuesday."There's a strange sort of analogy between our industry and what you see at Burning Man," Sorrell, who said he had attended the festival three times himself, told Edwards. "What it symbolizes to me is creative disruption."The head of S4 Capital, <a href="https://www.theguardian.com/media/2018/dec/04/martin-sorrell-s4-mightyhive-wpp">which just announced its second acquisition in the form of ad tech company MightyHive Tuesday morning</a>, said that "there has to be a radical change" in the advertising industry."Some people refer to it evolutionary ... I think it's revolutionary," he said. "The pace at which it is happening is so intense and so quick, that it's revolutionary, and that's one of the things that I experienced at WPP."With MightyHive - which specialises in programmatic advertising - and MediaMonks on its roster, S4 Capital can now seemingly offer full-service digital marketing capabilities. But the "acid test" for the firm would be whether it generates significant differentiation for its clients, Sorrell, who departed from WPP earlier this year, said."The acid test of S4 will not be acquiring MediaMonks, not acquiring or MightyHive ... it will be whether the combination works effectively and whether it has correctly analyzed what clients want."Sorrell also shared anecdotes of how S4 has been going around pitching itself to investors, saying that the firm was at an advantage as it doesn't face any of the challenges that other incumbent legacy advertising businesses inherently come with.He recently told an investment institution, for instance, that with a legacy business, "it's like trying to weld aircraft carriers together as opposed to a motor torpedo boat," a thinly-veiled swipe at his former company WPP, <a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">which has been trying to simplify its various networks and revive growth by merging entities together.</a>That investor then apparently responded with his own version of the analogy, according to Sir Sorrell, saying that "when you put the two dead birds together, you may have four wings, but it doesn't mean that you can fly." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/things-you-shouldnt-buy-on-black-friday-2016-11">7 things you shouldn't buy on Black Friday</a></h3> <div> </div> </div>

Sir Martin Sorrell says the advertising industry reminds him of Burning Man, and should embrace 'radical change'

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Jin S. Lee/Business Insider</div></div></div><ul class="summary-list"><li>The agency holding companies will survive, but there will be more consolidation, according to Sir Martin Sorrell.</li><li>The former head of WPP said its recent mergers spell the "death" of the Y&amp;R and J. Walter Thompson brands and that the Y&amp;R name should have come first in the merged company.</li><li>He said that with his new company, S4, he's not concerned with competitors but whether he can meet clients' data-related needs. </li></ul>Since Sir Martin Sorrell's sudden departure as chief of WPP earlier this year, he set up S4 Capital to create a global <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword>, marketing and ad tech company by acquisition. That was followed by two big deals - MightyHive and MediaMonks.Business Insider caught up with Sorrell offstage <a href="https://www.businessinsider.com/sir-martin-sorrell-talks-at-business-insider-ignition-2018-12">at its IGNITION Conference</a> in New York in December, where he weighed in on the agency holding company model, WPP, and advertising measurement. Our interview has been edited and condensed.Tanya Dua: With MediaMonks and MightyHive, S4 seems to have the programmatic and digital production side of the equation figured out. What's next?Sir Martin Sorrell: We almost have the complete train set, probably about, three-quarters to seven-eighths of the set. I'd like to see a little bit more in content and a little bit more in first-party data. But it's difficult to find good assets, and they're expensive. On the data side, there's stuff that I really like, but pricing is hard. When IPG bought Acxiom, they seemed to leave behind the best asset [LiveRamp], and I wonder why that was.Dua: The agency holding companies are making huge changes as well. Will that model as we know it survive?Sorrell: They'll survive, but there will be more consolidation. I can't remember a time when it's been more revolutionary.Dua: What is your opinion on the VMLY&amp;R and Wunderman-J. Walter Thompson mergers at WPP?Sorrell: VMLY&amp;R was something that I initiated. [VMLY&amp;R CEO] Jon Cook and I fully agreed that it was going to happen. We were going to put Geometry into it as well. But I think it was a mistake for Jon not to have been more magnanimous. He would have done himself and his people at VML a lot of good by calling it Y&amp;RVML.I can understand the idea of making it digital-first by implication, so you put Wunderman before Thompson and VML before Y&amp;R, but it means the death of the Y&amp;R and Thompson brand. I was in Argentina when it was announced, and Y&amp;R and JWT in Argentina mean something.These decisions are difficult to make, but when you make them, you have to blend them in. You have to go out and talk to the troops and explain why you're doing it, because if you don't, you will lose their hearts and minds.Read more: <a href="https://www.businessinsider.com/sir-martin-sorrell-talks-at-business-insider-ignition-2018-12">Sir Martin Sorrell says the advertising industry reminds him of Burning Man, and should embrace 'radical change'</a> Dua: Do these moves signal the death of creative agencies? You don't seem to be shopping for creative assets for S4.Sorrell: You're living in the 19th century if you define creativity like Don Draper. The definition of creativity is shifting. Believe it or not, data analysts can be creative. People who do digital can be creative. Data doesn't destroy creativity, but enhances it, informs it and makes it more effective.Dua: So who is S4 competing with? The consulting firms?Sorrell: I don't worry too much about the industry. What I worry about is what does S4 deliver in terms of data, driving content and driving media planning, buying or programmatic. Several clients have said to me that is their model. They have their first-party data at the core, and that drives what they do from a content point of view and what they do on the media planning and buying side. The acid test of S4 will be whether the combination works effectively and has correctly analyzed what clients want. The mantra - it's a terrible mantra in many respects - is doing it faster, better, cheaper, and more efficiently.Dua: You've said before that measurement needs to be improved. Some <a href="https://www.businessinsider.com/comscore-and-nielsen-bet-on-digital-marketing-talent-to-win-over-networks-agencies-2018-11">advertising executives have gone over to the measurement side</a> recently. What are your thoughts on that?Sorrell: Comscore is a tragedy. We invested in Comscore when I was at WPP, and they had a massive opportunity. I was really disappointed with the way that was handled. I'm just as hopeful now as I was before. With Nielsen, I think [new CEO] David Kenny will make a difference. It's too early to tell. But there's a big opportunity there. Dua: Has Amazon started to challenge Google and Facebook's dominance?Sorrell: In terms of market cap, it has already. In terms of advertising, Amazon has a long way to [go], but it will challenge on advertising and search. 55% of product searches in the US, according to Kantar, are delivered or initiated through Amazon. Those are the three, the troika, if you ignore the Eastern challenge, which includes Tencent and Alibaba. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/microsoft-news-sorting-170000-stories-2018-12">Microsoft News' corporate vice president explains how his team avoids fake news sorting through 170,000 stories a day</a></h3> <div> </div> </div>

Sir Martin Sorrell says the holding companies will survive, but there will be more consolidation

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Christian Alminana/Getty Images for Cannes LionsUnilever CMO Keith Weed</div></div></div><ul class="summary-list"><li>As <a href="https://www.businessinsider.com/78-of-brands-now-have-some-form-of-an-in-house-agency-2018-10">more brands take their advertising in-house</a>, a new wave of companies is inserting itself in the ongoing tug of war between brands and traditional agencies.</li><li>These companies are helping brands do everything from hiring and setting up basic operational structures in-house, to handling content creation, media-buying and measurement.</li><li>Brands including Unilever, BMW, Marriott, MasterCard and Pernod-Ricard are increasingly moving their <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> functions in-house. </li></ul>When Simon Martin set up his company back in 2004 to help brands set up in-house advertising functions, he said people looked at him like he "was talking about sci-fi.""That sci-fi has now become reality," said Martin, the founder and CEO of Oliver, a London-based company whose clients include Unilever, BMW, and Marriott.As <a href="https://www.businessinsider.com/78-of-brands-now-have-some-form-of-an-in-house-agency-2018-10">brands increasingly take their advertising in-house</a>, Oliver and other companies such as Launch Angle, Wunderman Inside and MightyHive have inserted themselves in the ongoing tug of war between brands and traditional ad agencies.Read More: <a href="https://www.businessinsider.com/78-of-brands-now-have-some-form-of-an-in-house-agency-2018-10">Brands continue to take their advertising in-house at an unprecedented rate - and it's terrible news for ad agencies</a>These companies are helping brands do the work traditionally handled by ad agencies, such as hiring and setting up basic operational structures and handling content creation, media-buying and measurement.<h2>A new wave of companies is helping brands become self-sufficient</h2>In doing so, this new cottage industry is enabling big brands to rely less on their ad agencies.Oliver, for example, embeds its own team members with its clients. It audits the client's processes, changes them as needed, and helps the client with creating content and gauging its performance."The idea is to put the right creative talent with the right skills close to our clients and give them the right processes and tech to make their lives easier," said Martin. Another in-housing company, Launch Angle, was founded in 2018 by Keith Hernandez, who spent a big part of his career working in the content studio side for publishers including BuzzFeed and Turner's Bleacher Report. The company is more consultative than Oliver's and works with clients on a project basis, relying on freelancers and experts rather than a full-time team."In theory, brands should be able to become publishers and tell their own stories to connect with consumers," Hernandez said. "But the disconnect has always been in the ability to control so many moving parts. Brands have realized that they want to own a little bit more of their destiny and their data."A third such company, S4 Capital's <a href="https://digiday.com/marketing/mightyhive-in-house-agencies-agency-brands/">MightyHive,</a> concentrates on helping marketers with their media-buying and programmatic stacks. <h2>Brands are opting for in-housing for multiple reasons</h2>In-housing is a growing trend, with <a href="https://www.businessinsider.com/78-of-brands-now-have-some-form-of-an-in-house-agency-2018-10">78% of advertisers in an October 2018 survey by the Association of National Advertisers</a> saying that they had some form of an in-house agency. Marriott has a six-person content studio that services its 30 brands and <a href="https://www.wsj.com/articles/mastercard-drops-its-name-from-logo-11546858800">the creative for MasterCard's recent logo refresh</a> was led by its own team.Some of the most common goals of in-housing are more speed, efficiency, control, and cost-savings.The argument against using a traditional agency is that it can impede a company from adjusting advertising on the fly, costing the company money.These new in-housing enablers, on the other hand, promise brands greater efficiencies. Oliver helped Unilever set up "U-Studios," which helps create content for Unilever brands, <a href="https://www.marketingweek.com/2017/07/20/unilever-marketing-savings-bear-fruit/">bringing down its costs by 30% in 2017</a>, said Unilever CFO Graeme Pitkethly."We [Oliver] will be able to deliver hundreds of millions of dollars of savings to brands globally," said David Jones, whose brand-tech conglomerate You &amp; Mr. Jones recently acquired Oliver.<h2>Agencies are waking up to the challenge</h2>Traditional agencies have come under fire from consulting firms like Accenture and Deloitte that are encroaching on their business and Facebook and Google that are raking in most new ad spending. But agencies are not oblivious to these threats.That's why ad holding giant WPP's digital agency, Wunderman (now <a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">WundermanThompson</a>), launched Wunderman Inside in March 2018. It offers clients services like social media command centers, CRM teams, and fully-integrated marketing teams. One of Wunderman Inside's biggest clients is Samsung. Read More: <a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">'There are no sacred cows': Ad industry execs sound off on what WPP's agencies J. Walter Thompson and Wunderman merging means for the future of the industry</a>"We believe that providing clients with an on-site agency capability, closely coupled to a much broader in-agency offering, provides clients with the best of two worlds," said James Sanderson, Wunderman Inside's managing director. "The time of the external-only, built-for-TV agency model is beginning to pass."To be sure, not every brand is going the in-housing route or able to pull it off. Brands like <a href="https://digiday.com/marketing/vodafone-backtracks-programmatic-ad-buying/">Vodafone</a> and Intel have recently scaled back on their in-house efforts, for example."The brands doing it themselves don't have the experience to run agency type businesses internally, and are realizing that it can go wrong," said Jones. "That's why these type of companies have been successful."Wunderman's Sanderson said that while marketing teams and procurement see advantages in this approach, they want to minimize the risk of launching their own operation."There are challenges clients face in recruiting, developing and retaining top talent. This can be costly, distracting and dangerous if the quality of the work is inferior to that which an agency can deliver," he said. "We believe our solution delivers the benefits of in-housing, letting the client get ahead but without the risk." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/earth-north-south-poles-flip-magnetic-field-2018-4">Earth's north magnetic pole is on the move - here's what will happen when our poles flip</a></h3> <div> </div> </div>

Big brands are taking more of their advertising in-house than ever before, and a whole new cottage industry of companies is trying to cash in on the opportunity

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li style="font-weight: 400;">German chemical and pharmaceutical company Bayer is putting its global media business up for review, ending its longstanding relationship with GroupM agency MediaCom, part of ad holding company WPP, said a source with direct knowledge of the situation.</li><li style="font-weight: 400;">The Aleve and Alka-Seltzer maker informed MediaCom of its decision last week and is expected to begin searching for a new global media agency in the next couple of weeks.</li><li style="font-weight: 400;">MediaCom has worked with Bayer on the estimated $400 million media assignment in the US since 2011 and also handles the account globally.</li><li style="font-weight: 400;">The review follows Bayer bringing its US digital buying in-house beginning in 2017.</li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymary">Click here for more BI Prime stories</a>.</li></ul>German chemical and pharmaceutical company Bayer is putting its global media business up for review, ending its longstanding relationship with GroupM agency MediaCom, which is part of ad holding company WPP, Business Insider has learned.The Aleve and Alka-Seltzer maker informed MediaCom of its decision last week, and is expected to kick off the search for a new global media agency in the next couple of weeks, a source with direct knowledge of the situation told Business Insider. MediaCom has worked with <a href="https://www.mediapost.com/publications/article/163814/bayer-poised-to-consolidate-media-assignment-with.html">Bayer on the estimated $400 million media assignment in the US since 2011</a> and it also handles the account globally.MediaCom, GroupM, and Bayer have not responded to multiple requests for comment from Business Insider.The review comes on the heels of Bayer beginning to bring its US digital buying in-house in 2017, <a href="https://digiday.com/marketing/media-buying-bayer-in-house/">Digiday reported.</a> While Bayer's team initially worked with MediaCom on media buying, the agency was gradually phased out and left to handle offline media only. Business Insider was unable to learn which agencies will be invited to pitch for the business.<h2>In-housing shows no signs of slowing</h2>The Bayer-MediaCom relationship has been under stress for a few years, and WPP even roped in a small team from MediaCom's sister GroupM agency Essence to work alongside MediaCom at the client's behest, but that move didn't work out, said two sources familiar with the situation. Bayer is looking to bring all US digital media buying in-house by 2020. It's been taking on functions including strategy, planning and analytics in 2019, working with S4 Capital's MightyHive during the transition, <a href="https://digiday.com/marketing/bayer-saved-least-10-million-taking-programmatic-house/">according to Digiday</a>. The company claims to have reduced its programmatic buying costs by $10 to $11 million within the first six weeks.The desire for more control over their consumer data has led to an increasing number of brands including ADT and Hershey's taking media operations in-house. 78% of brands that are members of the Association of National Advertisers reported in 2018 that they had some form of an in-house agency.Read more:<a href="https://www.businessinsider.com/inside-hersheys-in-house-agency-c-sweet-2019-6"> Hershey's bet on in-housing is yielding sweet results, with overhead costs down 25%, output up fivefold and over $4 million saved in agency fee</a><h2>Media offerings have also become increasingly commoditized </h2>The breakdown of Bayer and MediaCom's relationship also demonstrates how the agency and the ad-agency-holding-company model continues to face challenges on all sides. It is another blow to WPP, which just lost a large chunk of its Johnson &amp; Johnson business.Read More:<a href="https://www.businessinsider.com/wpp-closes-division-dedicated-to-marketing-johnson-and-johnson-brands-2019-10"> WPP just lost a huge chunk of one of its oldest, most valuable accounts, Johnson &amp; Johnson</a>While clients take more of their ad duties in house, the rise of programmatic <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> has impacted <a href="https://www.businessinsider.com/why-media-agencies-are-on-their-death-bed-2018-9">media agencies</a> as competitors can step in and automate the media-buying process. In such an environment, media agencies like MediaCom no longer have the clout they once did in TV buying.Bayer spent $5.4 million on media in the US in 2018, according to Kantar. <a href="https://www.businessinsider.com/intelligence/top-10-trends-in-digital-media?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=advertising&amp;itm_campaign=top-10-trends-in-digital-media"></a>

WPP's GroupM agency MediaCom just lost a longstanding client - and it marks the latest casualty in the accelerating trend of brands taking media in-house

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Roy Rochlin / Stringer / Getty ImagesCharter CEO Tom Rutledge</div></div></div>Charter Communications chief executive Tom Rutledge will look to buy more cable assets if they become available."From an M&amp;A perspective, I think cable is a great business. If there were assets for sale that we could do more of, we would do that," Rutledge said at the UBS Global Media &amp; Communications Conference."We've been buying a lot of our own stock back," he continued. "Why? Because we think the cable business is a great business and we haven't been able to buy other cable assets."<a href="https://www.businessinsider.com/charter-ceo-tom-rutledge-cable-ma-2018-12">Click here </a>to read more about why Charter's CEO is bullish on cable M&amp;A.In other news:<a href="https://www.theguardian.com/media/2018/dec/04/martin-sorrell-s4-mightyhive-wpp">Martin Sorrell's S4 has bought programmatic ad firm MightyHive for $150 million. </a>The tech company will allow S4 to become a full-service digital marketing firm and offer creative, media planning and buying.<a href="https://www.nytimes.com/2018/12/03/business/media/oath-children-online-privacy.html?mod=djemCMOToday">Verizon's Oath will pay about $5 million to settle New York attorney general charges over children's privacy law violations, reports The New York Times. </a>AOL helped place targeted display ads on hundreds of websites that it knew were directed to children under 13, such as Roblox.com and Sweetyhigh.com, according to a settlement.<a href="https://www.businessinsider.com/ddbs-wendy-clark-says-the-ad-agency-of-the-future-needs-to-be-flexible-2018-12">'Siloed companies weren't working': DDB's Wendy Clark says the ad agency of the future needs to be more flexible.</a> The agency exec said that focusing on building bespoke approaches for clients is the best way for agencies to survive.<a href="https://www.businessinsider.com/ddbs-global-ceo-manages-a-high-flying-advertising-career-and-a-family-2018-12">Speaking of Clark, she also admitted that the long hours and constant flights required for her job are often accompanied by guilt</a>. "That voice, that 'Debbie Downer in your head,' never goes away," she said. "But what I say is that you gotta shut that b***h up."<a href="https://www.businessinsider.com/scott-galloway-facebook-should-fire-zuckerberg-sandberg-2018-12">Facebook's board needs to get a spine and fire Mark Zuckerberg, marketing guru Scott Galloway said.</a> Facebook should fire both CEO Mark Zuckerberg and COO Sheryl Sandberg for the string of failures on their watch, Scott Galloway said at Business Insider's Ignition conference Monday.<a href="https://www.businessinsider.com/microsoft-newsguard-use-humans-fight-fake-news-2018-12">How tech companies are fighting fake news with humans.</a> Microsoft and NewsGuard are among the companies today fighting fake news with human oversight and moderation.<a href="https://www.businessinsider.com/iacs-ceo-outlines-companys-strategy-2018-12">IAC's CEO says that understanding consumer-focused internet brands is keeping the company's stock flying high.</a> IAC's stock has performed well in recent years because of the company's ability to play with "lots of different businesses, lots of different brands," said CEO Joey Levin.<a href="https://www.businessinsider.com/quora-says-it-had-massive-hack-that-may-have-affected100-million-users-2018-12">Quora says 100 million users may have had their account information stolen in a massive data breach.</a> Account information, including name, email address, encrypted password and data imported from linked networks when authorized by users may have been compromised, the site said. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/nasa-insight-mars-850-million-dollar-drill-2018-11">NASA sent an $850 million hammer to Mars and it could uncover clues to an outstanding mystery in our solar system</a></h3> <div> </div> </div>

What you need to know in advertising today

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">GettyGoogle CEO Sundar Pichai.</div></div></div><a href="https://markets.businessinsider.com/stocks/goog-stock">Google's parent company, Alphabet</a>, boosted its revenue by 26% in the second quarter, outpacing Wall Street targets and delivering strong growth even as the company absorbed a hefty $5 billion fine from European regulators.Shares of Alphabet were up 4% in after-hours trading on Monday.Google executives credited the company's mobile <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> business and the expansion of its cloud-computing business for the healthy revenue growth. Google CEO Sundar Pichai cited important new customers for the cloud business, including the retail superstore Target, which he said was migrating key areas of its business to the Google Cloud platform.To read more about Google's earnings,<a href="https://www.businessinsider.com/alphabet-q2-2018-earnings-google-revenue-eps-analysis-2018-7"> click here.</a>Also during Google's second-quarter earnings conference call on Monday,<a href="https://www.businessinsider.com/sundar-pichai-google-translate-143-billion-words-daily-2018-7"> Pichai revealed</a> an intriguing piece of information that hints at Google Translate's moneymaking potential.In other news:<a href="https://www.businessinsider.com/hm-invited-its-instagram-followers-to-help-design-its-latest-collection-2018-7">"The beginning of the democratization of fashion": H&amp;M invited its Instagram followers to help design the latest collection for its millennial brand. </a>H&amp;M's Nyden enlisted nine Instagram influencers - including Refinery29 senior editor Alyssa Coscarelli - to help tap into consumer preferences using Instagram Stories' polling feature.<a href="https://www.businessinsider.com/buzzfeed-is-still-launching-new-social-brands-2018-7">BuzzFeed's doing for travel what it did for food with Tasty - and big brands are starting to get on board.</a> Since debuting as an experimental brand in February of 2017, BuzzFeed's Bring Me has racked up 2 billion views and has nabbed sponsors such as Pepsi.<a href="https://www.businessinsider.com/snap-signs-pinknews-as-snapchat-discover-first-lgbt-partner-2018-7">Snap has signed up its first LGBT partner for Snapchat Discover. </a>PinkNews will go live on Wednesday on Snapchat and aims to appeal to a young audience which is testing the boundaries of their sexuality.<a href="https://www.businessinsider.com/bank-of-america-has-hired-2-top-bankers-to-boost-its-media-and-telecom-business-2018-7">Bank of America has hired 2 top bankers who work with the likes of Verizon and Viacom amid a deal frenzy in media and telecoms.</a> Sam Powers will join in the fall as head of Americas Media &amp; Telecom Investment Banking and Randy Russell recently joined as a managing director in Media &amp; Telecom.<a href="https://www.businessinsider.com/planet-of-the-apps-star-gary-vaynerchuk-trashes-how-apple-marketed-show-2018-7">One of the stars of 'Planet of the Apps' is trashing Apple: 'I was like, f--- this.' </a>Outspoken entrepreneur Gary Vaynerchuk apparently did not like the way Apple marketed its reality show about apps, "Planet of the Apps."<a href="https://www.theguardian.com/guardian-us-press-office/2018/jul/23/guardian-us-teams-up-with-google-and-mightyhive-to-uncover-programmatic-ad-on-the-open-exchange-and-test-adstxt">Guardian US teamed up with Google and MightyHive to initiate a series of tests to investigate issues of programmatic ad fraud on the open exchange and the effectiveness of ads.txt, reports the Guardian.</a>The results showed clear evidence of unauthorized exchanges claiming to have sold inventory and taking revenue when the buy was made through the open exchange. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/manage-your-boss-navy-seal-work-strategy-2018-6">Why you hold your boss accountable, according to a Navy SEAL</a></h3> <div> </div> </div>

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.com/detail/news-photo/martin-sorrell-speaks-onstage-during-the-the-cannes-debate-news-photo/981444472">John Phillips/Getty Images</a></div></div></div><ul class="summary-list"><li>As the holding company model continues to face threats on numerous fronts, the five biggest ones should consider going private, said S4 Capital's Sir Martin Sorrell.</li><li>In an interview during the Cannes Lions Festival of International Creativity last week, Sorrell said the holding companies were stuck in outmoded ways of working.</li><li>Sorrell also said that ad agencies his new company S4 Capital is trying to provide advertisers with an alternative by focusing on data, digital and being better, faster and cheaper than traditional agencies.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>In their heyday, ad holding companies allowed agency groups to serve an array of clients with various marketing functions while achieving economies of scale.But with the holding company model facing threats and shares of big players like WPP, Publicis, and IPG <a href="https://www.prweek.com/article/1525205/publicis-shares-crash-10-creative-agencies-slump">continuing to slide</a>, they may be better off going private, said former WPP chief and S4 Capital head Sir Martin Sorrell."There's a serious question to be asked as to whether the 'big five' would be better off private," Sorrell told Business Insider during an interview during the Cannes Lions Festival of International Creativity last week."Do they need more scale? Probably not. A lot of clients believe that small is beautiful on the creative side of the business, and brain is becoming more important on the media side than brawn, certainly in programmatic." he said. <h2>Sorrell says ad agencies are stuck in outmoded ways of working</h2>Holding companies have struggled as big clients like Procter &amp; Gamble pull back on ad spending, brands experiment with taking more functions in-house, and Facebook and Google continue to dominate digital <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword>. Some, like WPP, are responding <a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">by simplifying their networks</a>, and integrating creative, digital, and media teams.Read More: <a href="https://www.businessinsider.com/pg-partnering-with-john-legend-and-arianna-huffington-at-cannes-2019-6">Consumers are avoiding ads more than ever, so P&amp;G is striking creative partnerships with big names like John Legend and Arianna Huffington</a>But that won't be enough, said Sorrell."The Pavlovian reflex reaction of most traditional agencies is still around a TV film," he said. "They are still rooted in the 'Draper-esque' past, the 'Mad Men,' mad women, past, rather than looking to the future. Clients continuously complain that agencies don't respond in a digital way, or even in a balanced way."Read More: <a href="https://www.businessinsider.com/inside-hersheys-in-house-agency-c-sweet-2019-6">Hershey's bet on in-housing is yielding sweet results, with overhead costs down 25%, output up fivefold and over $4 million saved in agency fees</a><h2>With S4, Sorrell is trying to build an alternative to the holding companies</h2>Since leaving WPP last year <a href="https://www.businessinsider.com/wpp-ceo-sir-martin-sorrell-is-reportedly-being-investigated-by-the-ad-companys-board-for-misuse-of-assets-and-improper-personal-behavior-2018-4">after allegations of misuse of assets and improper behavior</a>, Sorrell has begun to build a holding-company alternative in S4 Capital by acquiring companies like programmatic firm MightyHive and digital production company MediaMonks.Sorrell said his goal is to create a global advertising, marketing, and ad-tech company that's focused on digital and first-party data and is better, faster and cheaper than traditional agencies. S4 Capital reported <a href="https://digiday.com/marketing/data-battleground-martin-sorrells-s4-capital-shopping-first-party-data-company/">$150 million in revenue in 2018</a>, and has clients including Procter &amp; Gamble, Nestlé, and Avon."We focus purely on digital, which is the growth segment of the business, and continues to grow at around 20% as opposed to the old stuff, which is actually declining in some channels," he said. "I get harangued for saying cheaper by [CEO of Accenture Interactive] Brian Whipple and others, and that may sound glib and superficial, but it really does resonate [with clients]."Sorrell claims that by being technologically agnostic, S4 is not beholden to or dependent on any platforms. In signing clients, he said the company prioritizes top-line growth, and margins, not sacrificing them as he said holding companies have done.Still, while brands are putting more of their spend in digital, S4 Capital is barely a year old, and has access to a fraction of the marketing pie compared to the incumbents. And the holding companies are fighting back, acquiring data-driven marketing businesses like Epsilon and Acxiom. Plus, S4 isn't immune to the trend of clients taking functions in-house.One is Hershey's, which set up its own internal in-house content studio. "I could not get good social work out of my agencies because they were so determined to keep things the same," its CMO Jill Baskin told Business Insider earlier this month. "They were so stuck in their models."Sorrell maintains S4 Capital will prevail over traditional holding companies because his company's functions are all connected from the start."In other words, a company not fragmented by earnouts or by the silos, all the verticals but truly integrated," he said. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/stewart-butterfield-advice-for-millenials-2015-7">Stewart Butterfield, co-founder of Slack and Flickr, says 2 beliefs have brought him the greatest success in life</a></h3> <div> </div> </div>

S4's Sir Martin Sorrell is calling time on the ad agency holding company model, and thinks that big players like WPP and Publicis should go private

<ul class="summary-list"><li>Former Havas global CEO David Jones left the ad agency world behind to launch "brandtech" firm You and Mr. Jones in 2015.</li><li>This week, his company announced a $200 million series B funding round at a valuation of $1.3 billion.</li><li>Jones told Business Insider he won over investors by telling them the holding company era was over.</li><li>Now, his company invests in tech startups. They start by asking which up-and-coming companies will excite clients like Unilever.</li><li>Jones says his biggest flop was investing in digital publishers Mic and Mashable.</li><li>Jones and former WPP CEO Martin Sorrell are both looking to lead the next wave of advertising networks. But while Sorrell's S4 focuses on digital marketing, Jones sees a future in AI, healthcare and ad tech.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>David Jones saw the writing on the wall more than five years ago while serving as global CEO of ad agency holding company Havas. To him, such companies' decades-long dominance of the ad industry was coming to an end due to the unstoppable power of smartphones.At the time, the top five holding companies WPP, Omnicom, Publicis, IPG, and Dentsu had record profit margins - but they've lost about $20 billion in market capitalization since Jones left the agency world in 2015 to launch You and Mr. Jones, a network he describes as "brandtech" to reflect its dual focus on technology and more traditional brand marketing work.The company was valued at $1.3 billion this week after receiving $200 million in a series B funding round from four investors including Baillie Gifford, which previously placed major bets on Amazon, Alibaba, and Tesla. The new round brings the total raised to $550 million.<h2>You and Mr. Jones's investor pitch was all about long-term thinking</h2>"Four and a half years ago, there were just two of us and a checkbook," Jones told Business Insider.Jones said he got investors to give him his initial $350 million in funding by saying he was building a global organization to take advantage of the shift to mobile. Playing on the challenges he experienced managing Havas, Jones told investors that holding companies couldn't handle such a dramatic shift.He found investors like Baillie Gifford who weren't looking for rapid returns."We are long-term believers in the power of technology and we invest in businesses that offer outsize opportunities," said James Anderson, head of global equities at Baillie Gifford.Jones said his company now employs 3,000 in 40 countries and plans to use the new funding to expand in Asia, which only accounts for 8% of its revenue but grew 89% last year. "If you're only in New York, you're part of the problem," he added.<h2>The company's biggest misstep was investing in digital media companies like Mic</h2>You and Mr. Jones has also invested in 21 tech companies since its launch. Jones calls that portfolio the most important part of his business.The CEO said he and his team ask four questions before each investment decision: Is the company in a vertical that You and Mr. Jones wants to be in? Is it a good cultural fit? Will clients get excited about it? Do its financials make sense?Jones said that the vast majority of his investments have been profitable; the largest is Oliver, an agency that helps companies take their marketing work in-house and is now consumer goods giant Unilever's largest digital ad agency. He also defended his investment in Pokémon Go maker Niantic, which <a href="https://www.marketwatch.com/story/nintendos-stock-tumbles-on-pokemon-go-postponement-and-concerns-it-is-overvalued-2016-07-20">analysts have said was overvalued</a>.You and Mr. Jones also invests in platforms like Pinterest, whose co-founder and CEO Ben Silberman said in a statement that Jones' company has helped "introduce us to leading global brands."Jones said his biggest misstep lay in digital media investments, which is perhaps unsurprising <a href="https://www.businessinsider.com/all-the-big-digital-media-deals-that-happened-in-2019-2019-12">given the industry's brutal 2019</a>. You and Mr. Jones invested in <a href="https://www.businessinsider.com/how-mic-sold-to-bustle-2018-12">Mic</a> and Mashable (both of which sold at fire-sale prices) but lost money on both. Jones blamed the drop on Facebook's algorithmic shift away from news. <h2>Both Jones and S4 CEO Martin Sorrell want things "better, faster, and cheaper" - with a key difference</h2>Jones believes that in the next five to six years, "new disruptor" companies like You and Mr. Jones and Sir Martin Sorrell's S4 Capital will take some of the holding companies' lost market share.Both executives use the phrase "better, faster, and cheaper" to describe their offerings.Jones said the key difference between their approaches is that he's investing in tech companies like the AI Foundation and healthcare-focused financial platform Amino, while Sorrell, former CEO of WPP, is focusing on digital marketing, acquiring production company Media Monks and programmatic in-housing firm MightyHive. Sorrell did not respond to a request for comment.Despite Jones's bearish outlook on ad agencies, he insisted his goal isn't to replace them because he has no interest in buying traditional media placements or making TV ads."It's a commodified, low-margin, low-growth business," he said. "Any business not growing by 20% organically has a problem."

CEO of You and Mr. Jones, valued at $1.3 billion, explains how he chooses where to invest - and how his strategy differs from Sir Martin Sorrell's

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.com/detail/news-photo/martin-sorrell-speaks-onstage-during-the-the-cannes-debate-news-photo/981444472">John Phillips/Getty Images</a>Sir Martin Sorrell.</div></div></div>When Martin Sorrell quit under fire last spring as the CEO of the world's most powerful <keyword id="6354839" type="UNKNOWN" weightage="60" keywordseo="marketing">marketing</keyword> juggernaut, WPP, he didn't miss a beat. "Back to the future" is where he told reporters he was headed.Six weeks later he was launching a new warship, S4 Capital, and immediately beat his former employers in a $350 million battle for global ad-production powerhouse MediaMonks. Next: a reverse takeover, listing S4 shares in London.What's next?To find out, we're delighted to be welcoming Sir Martin to IGNITION next month for a freewheeling conversation with Business Insider UK's editor-in-chief, Jim Edwards, about all his plans and the disruptions reshaping the media-marketing landscape.For a preview, Business Insider recently caught up with Sorrell by phone. Here are some excerpts:Yesterday Sao Paulo, today Paris. Grass isn't growing under your feet.I stopped through New York yesterday as well.What's on the agenda - clients, partners, companies to acquire?All of the above.Any special flavor of acquisitions?We're focused on three things: content, first-party data, digital media planning and buying. Also, anyone doing high-level digital disruption.(Editor's note: After our interview, the news broke that Sir Martin was engaged in talks on his <a href="https://www.adweek.com/agencies/sorrells-s4-capital-is-bidding-against-bluefocus-to-acquire-programmatic-buying-firm-mightyhive/" target="_blank" rel="noopener">next acquisition</a>, the programmatic specialist MightyHive. Representatives from S4 declined to comment.)You mention content, but S4's prospectus specifically eschews involvement in "brand identity" - isn't that the bread and butter of many agencies?Big ideas are still pivotal, but people in our industry continue to define "creative" very narrowly. They're wearing rose-colored glasses. It's not just about Don Draper's "Mad Men" anymore. You can, believe it or not, have a creative data scientist or media planner.Rose-colored? A lot of the ad industry seems almost panicked.They're not taking note of the fundamental changes - not just technological, geographic as well. The new model has to develop. It has to be faster, it has to be better, it has to be more efficient.Faster, better, and more efficient than what?Clients are looking for co-located resources. They're looking for in-house models. I don't think in-house models work, but we're willing to work with clients to develop them.You're pinning much of S4's future on organic growth - big clients are an obvious way to do that.When you start with $100 million a year in revenue - where MediaMonks are - it's not so hard to make big jumps.We're searching for the word "television" in S4's prospectus ... I'm not off TV, but I want this to be as pure a digital operation as we can make it. When Warren Buffet invested many years ago in [ad holding company Interpublic Group] he said he saw it as a royalty on the growth of global corporations. I see S4 as being a royalty on the growth of the great digital platforms - on Google, Facebook, on Amazon, on Tencent and Alibaba, on Apple, and on Microsoft.Some of those seem to be hitting rough patches.Should any of them falter, alternatives will develop.Facebook and Google especially - politicians on both sides of the Atlantic seem to be gunning.When you break the trillion-dollar market-cap barrier, it's inevitable for people to come out shooting for you. You're an elephant. S4 is happy to be just a peanut - or maybe a coconut.So you're not worried that, say, Amazon will eat absolutely everybody's lunch?Amazon is an opportunity. Among other things, it will provide some balance against the others.Privacy regulation - bug or feature?It's inevitable. If consumers understand what's being done with their data, they'll accept that, fine. There's too much legalese - no one reads it. We need to treat consumers like intelligent people and lay before them what they're in for.As of now you've got S4 Capital and MediaMonks. Can we expect to see the birth of a new brand?We have to see what comes next. I hope it will be very quickly. Whatever it's called, I want it to be a unitary P&amp;L. We can't have fragmentation. I want entrepreneurs who are shareholders, who have a strong unitary interest.Once upon a time, ad agencies worked mainly for publishers - for media sellers, not buyers. Do you see some kind of similarly grand realignment coming?Looks at Havas, which is part of Vivendi - they call what they do "advertainment," a mixture of a media operation with an agency. That's very interesting, though obviously it poses very significant conflicts of interest.Lots of publishers seem to be jumping aboard - Vice, Refinery29, even The New York Times.As the old models come under pressure, new models will inevitably arise. Accenture acts as an adviser to companies on pitches, and also pitches itself. 'Twas ever thus.What don't you miss about running WPP?It's great having a clean sheet of paper. I'm not a prisoner of history, even though it was history I was responsible for creating. What I miss is the scale, but maybe we can do something about that quite quickly.You could also be on a beach in the south of France.That's not me.<div id="categorypromo"></div>

Back to the future with Sir Martin Sorrell

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://www.standardcyborg.com/"></a>Business InsiderStandard Cyborg CEO Jeff Hubor</div></div></div>Jeff Hubor was born with a non-functioning fibula that forced doctors to amputate his left leg when he was one year old. He's used an artificial limb ever since.Now, he runs a company, <a href="http://www.standardcyborg.com/">Standard Cyborg</a>, that makes prosthetic legs and is part of Y Combinator, Silicon Valley's most prominent startup lab.But it took almost 5 years for Hubor to get to where he is now.In 2010, Huber was an industrial engineering major at North Carolina State, where he came across 3D printers for the first time. He was immediately hooked by its "additive manufacturing" technology, where layers of materials are added on top of each other to create a finished object.He came up with an idea to apply 3D printing to manufacturing prosthetic legs, and even proposed it for his senior research paper.But Hubor never got around to finishing the paper. Before his senior year, Hubor left school to join an educational startup called KnowIt, and moved on to another startup called MightyHive a few years later.Neither of them worked out particularly well. And by June 2014, Hubor wanted to find something new. That's when his wife asked: "How about that idea you were thinking about a long time ago?"That rekindled Hubor's passion for 3D printed prosthetics. This time, he looked for way to actually build a product. Soon, he bought a $1,000 3d printing kit and found his own office space in San Francisco. Over the next 6 months, he launched a one-man startup called Standard Cyborg and got into Y Combinator in December."It wasn't like, 'I'm going to make a billion dollars doing this,'" Hubor told Business Insider. "I just started thinking about using 3D printers to make cheap prosthetic legs."Hubor's software and manufacturing process significantly drop the cost of prosthetic legs. A normal artificial limb can go for about $23,000, while water legs (waterproof prosthetics used in showers or pools) are on average $5,000. Hubor's product - currently only water legs - sells for $800."The software designs the leg and the 3D printer does all the hard work, so there's no labor in manufacturing," he said.Like any YC startup, Standard Cyborg is in its very early days. But Hubor sees huge upside: there are roughly 1.8 million amputees in the US, which in his estimation, translates to a $1.4 billion market. Currently, Standard Cyborg is working with 30% of clinics and hospitals in California, he says.Every year, one or two YC startups go on to become huge successes, like Dropbox or Airbnb. Just yesterday, an app called <a href="http://www.businessinsider.com/magic-may-be-worth-40-million-2015-3">Magic</a>, another YC alum to come out of this year's batch, raised $12 million at a $40 million valuation. Hubor doesn't see why Standard Cyborg can't get there one day."3D printing is revolutionizing prosthetics," he said with a smile. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/evantubehd-youtube-star-evan-toys-unboxing-2015-2">This 9-year-old makes $1 million a year opening toys</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="c1M3I2czpfpUbfSp-pk66DP24nakx303" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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