What you need to know in advertising today
Marketo is a privately held marketing automation company. Private equity firm Vista Equity Partners bought the company for $1.8 billion in 2016.
To read more about the acquisition, click here.
In related news:
Insiders are 'shocked' that Adobe is paying nearly $5 billion for Marketo, a deal that Salesforce and SAP also looked over. "Almost spit out my coffee," said one source familiar with Marketo's financials.
'We're going to see continued consolidation': Adobe's $4.75 billion acquisition of Marketo could spur a takeover spree at Salesforce and Oracle. Marketing clouds are aggressively chasing the same tools and expertise to win over brands.
In other news:
Instagram's new TV service recommended videos of potential child abuse. While monitoring IGTV, Business Insider found its algorithm recommended disturbing and potentially illegal videos.
Amazon is taking on TiVo with a new Fire TV DVR that can record live broadcasts. The device will start at $229.99 and will be available by the holidays.
Kanye West and Adidas just made a major play to one-up Supreme. On Monday, Adidas and Kanye West ran front page ads on nine newspapers across the country to promote the launch of Adidas Yeezy Boost 350 V2 Triple White.
Subway is running a new commercial that tries to slam McDonald's - but it's only making customers confused and angry. Subway has even started apologizing on Twitter to customers who say they hate the ads.