Investors are betting big on companies that promise to fundamentally shake up TV advertising, and another startup just snagged a sizeable round.
The TV-geared analytics and measurement company, Edo, has secured $US12 million in Series A funding, led by Breyer Capital. A handful of advertising players including Brian Sheth and Robert Smith (Vista Equity co-founders) and WGI Group (founded by Jonah Goodhart, Noah Goodhart, and Michael Walrath) also participated in the round.
Actor and filmmaker Edward Norton and Daniel Nadler founded Edo in 2015 to match up granular TV ratings with purchase intent data through machine learning.
Click here to read more about Edo.
In other news:
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Coca-Cola is in talks to invest in Dirty Lemon, a direct-to-consumer company known for its trendy drinks, and the CEO says the startup is dropping its CBD-infused beverage. Dirty Lemon is currently raising a round of funding that reportedly includes investors like Betaworks and Winklevoss Capital.
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Facebook warned Wall Street that it’s going to spend a lot of money fixing problems that can never be fixed. UBS forecasts that Facebook’s costs and expenses of more than $US20 billion could grow by as much as 50% next year, partly because of investment in security.
20-year-old ‘influencer’ sued for allegedly refusing to wear Snap Spectacles in public despite being paid $US45,000. According to the lawsuit, the contract required him to publish Instagram posts and stories of himself wearing the spectacles during the New York, Milan, or Paris fashion weeks. The PR agency’s client was Snap Inc.
Spotify sinks after delivering disappointing revenue guidance. The company’s fourth-quarter revenue guidance fell short of Wall Street estimates, and shares dropped more than 5% ahead of Thursday’s opening bell.
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