Good morning. Here’s everything you need to know in the world of advertising today.
1. Snap Inc is seeking to price its initial public offering at $US14 to $US16 per share. The company is looking to list 200 million shares on the New York Stock Exchange and the IPO is expected to price on March 1.
2. The Trade Desk generated $US1 billion in gross ad spend on its platform in 2016. The demand-side platform grew revenue 78% to $US200 million in the full financial year, AdExchanger reported.
3. Twitter is punishing abusive users by giving them a timeout. The company is temporarily disabling the accounts of people who are misbehaving.
4. These are the 30 best people in advertising to follow on Twitter. From parody accounts, to innovators, and privacy advocates.
5. Snap’s two co-founders will each sell $US256 million in stock when the company goes public. Evan Spiegel and Bobby Murphy will control 89% of the voting rights after the IPO.
6. Mark Zuckerberg outlined the future of Facebook in a letter. The new manifesto makes the social network sound less like a for-profit company and more like a global movement.
7. McDonald’s restaurants in the US are closing for a “day without immigrants” protest. Organisers across the country encouraged immigrants not to show up to work as part of the protest, forcing some McDonald’s locations to close.
8. AT&T announced an unlimited data plan. The carrier followed Verizon’s similar announcement earlier this week, although AT&T will throttle data speeds after customers use 22GB.
9. Soundtrack Your Brand raised $US22 million to create a streaming music service for businesses. With the new funding round the Swedish startup, which saw revenue growths of 400% last year, wants to start expanding globally.
10. Time Inc. expects $US600 million in revenue from programmatic and native advertising next year. Its fourth quarter revenue grew significantly as a result of the February 2016 acquisition of marketing cloud Viant, AdExchanger reported.
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