Good morning. Here’s everything you need to know in the world of advertising today.
1. Facebook launched its Snapchat Stories clone in the main app. The new feature sits at the top of the newsfeed and allows photos and videos to be shared to individual people or to one’s profile for 24 hours.
2. Yext is pricing its IPO at $US8 to $US10 a share. The public offering is set to make the mapping data firm raise between $US84 million and $US105 million.
3. Johnson & Johnson is launching a burnout prevention bootcamp. After testing running the program in-house, it will start selling it to other Fortune 100 companies at a cost of $US100,000 per team member.
4. House Republicans voted to let ISPs sell US consumers’ browsing history without their permission. The resolution, which repeals regulations passed during the Obama administration, was adopted in a 215 to 205 vote.
5. UBS says Snap has three critical challenges. The Wall Street firm said the company needs to scale up to 250 million users in three years, achieve ad revenues of $US5 billion to $US10 billion in the next three to five years, and use its operating leverage to become profitable.
6. OpenX announced a management shakeup. The ad tech firm said the moves are part of its strategy to “align by function,” The Drum reported.
7. Lyft’s cofounder said his company will beat Uber. In an interview, John Zimmer said the company advantage is that it’s “woke” and “a better boyfriend” than Uber.
8. R/GA opened a Berlin office. The agency hired the CEO of Razorfish Germany, Sascha Martini, as its managing director for the new office, Campaign reported.
9. Discovery’s CEO thinks cable providers will be forced to sell their TV services nationwide. David Zaslav said online video services will force cable providers to compete with each other in the same markets.
10. Periscope is getting pre-roll ads. They’re still limited to a small number of advertisers, but will be more widely available in coming months, according Variety.
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