Two weeks ago, Adweek reported that Snapchat was asking major retail brands for $750,000 a day for its new ads. While Snapchat only began to run ads late last year, they have support from major brands, including the likes of McDonald’s, Samsung, Macy’s, and Electronic Arts.
On the surface, three quarters of a million dollars may seem like a lot money for a single day of advertising, but when you’re first-to-market and have a direct line to teenagers, there’s definitely an argument to be made. Snapchat CEO Evan Spiegel certainly believes so, as he’s raising funds at a $10 billion valuation.
Funding aside, it’s fascinating to watch as Snapchat continues to monetize their app, and compete with established social media players for user’s precious screen minutes.
But it doesn’t stop at social media. more
Big news coming from the retail sector today as Target has decided to withdraw from the Canadian marketplace. Amid fierce competition from consolidating grocery chains, drug stores, and expanding everyday-low-cost retailers, Target was faced with a far more challenging business objective than they probably first realized. more
As many of you know, Mansfield Inc. will be joining the @get_proof family. We are very excited and look forward to making moves with Proof. To stay in touch, please follow @get_proof, as of January 11 this Twitter account will be deactivated pic.twitter.com/gbyO…