CNN wants to turn its social video content experiment Great Big Story into a stealth cable network — without the cable TV part that is.
The company is pumping $US40 million of fresh capital into GBS, the web-video venture it rolled out in 2015 as something of an alternative to Vice Media. That brings CNN’s investment total to $US70 million overall, and values GBS in the neighbourhood of $US250 million, Bloomberg reported, though CNN is the sole owner/investor.
In other news:
Pinterest is pushing its visual search engine for the real world — and it could upend the advertising business. The company is putting a big emphasis on Lens, and the visual search technology behind the product.
Snapchat’s new maps feature shows you where your friends are. The feature, announced Wednesday, will let the app’s 166 million users share their locations with each other, according to a company blog post.
Burger King’s Google Home Whopper stunt has won a big advertising award. The campaign nabbed the Grand Prix in the Direct category at the Cannes Lions, elbowing out State Street and McCann’s “Fearless Girl.”
Nokia is pivoting, reports Digiday. The former mobile phone giant now wants to be known for its digital wellness and VR ventures.
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