No, Q3 GDP wasn’t great, no, we’re not out of the recession woods yet. Misleadingly strong economic numbers (the government pretended there was little inflation) combined with misleadingly low inflation numbers (the Fed pretended people don’t have to eat or drive) allow Fed to let Wall Street to temporarily have cake and eat it, too. Meanwhile, oil hits $96. Bottom line: As the Post’s John Crudele explains, the Fed’s in a bind, and the economy is not as strong as Q3 GDP would have you believe.
Another $100 million for another online ad middleman. Specific Media raised $10 million last year, and now $100 million this year, which puts the valuation at…? Well the founders would never sell half the company in a single non-firesale round, so that probably puts the valuation well north of $250 million. Rafat has more. (Speaking of which, when is the strangely named PaidContent.org going to change its name to Rafat.com?)
NBC to sell text ads, make chicken feed. Mobile messaging-ad firm 4INFO gets an investment from NBC’s Peacock Ventures and business from NBC. 4INFO will now be making sure those helpful cell-phone texts NBC sends you include ads. Jupiter’s Julie Ask says this is a sign that the market’s “growing up.”
Murdoch’s News (NWS) synergy train has already left the station: WSJ’s Geoffrey Fowler says The Australian will now be running a Wall Street Journal business page. Pearson’s orphan FT, which already has a distribution deal with The Australian, ain’t riding that train.
Hulu, unplugged. 404 errors all around, says Valley madman Michael Arrington, We know the feeling. We also can imagine what Hulu’s hearing from its technology vendors: “What do you want, 99% uptime?” We remain astounded that, more than a decade in to this technology wave, no one has managed to figure out how to just keep sites working. As we brace for further bombardment, we humbly submit: Is this really so much to ask?