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Under pressure to boost its slowing revenue growth and a stock price that’s been in the dumps for months, Snap is turning to China.
The company is planning on an “ambitious” effort to attract advertisers from China and other Asian-Pacific countries to its Snapchat app. Snap has a goal of quickly growing sales from the effort.
The social app creator quietly revealed the strategy in a recently posted job listing.
To read more about Snap’s grand plans in China, click here.
In other news:
The New York Times took a big swing at the first major event of Hollywood’s awards season. It debuted a powerful new ad tied to its groundbreaking reporting on sexual harassment, which premiered during the Golden Globe Awards last night.
But The New York Daily News may be the one to walk away with at least some of the credit for The Times’ ad. The Daily News ran a cover two years ago that looks a lot like the New York Times latest ad campaign.
Meanwhile, analysts believe that Snap’s app redesign could backfire. According to Jefferies, Snap’s new app redesign may not have the desired effect and could turn users away from publishers’ content.
Google sold more than 6.8 million Home smart speakers during the holiday season. Google’s bid to catch up to Amazon in the nascent smart speaker market is gaining steam.
Speaking of Amazon and Google, the two are about to step up their war for the future of technology. At CES, which begins in Las Vegas this week, gadget manufacturers will show off their latest products using Alexa and Assistant.
Americans are falling in love with their iconic brands again. McDonald’s and Walmart are both on a tear, posting incrementally increased sales and customer traffic.
Ad tech company MediaMath is launching an independent venture capital fund called MathCapital, The Wall Street Journal reports. Former Undertone executive Eric Franchi will lead the fund, while MediaMath CEO Joe Zawadzki and a few other MediaMath executives will be involved as partners.
WPP has merged its four global Kantar consulting companies into one unit, Ad Age reports. Kantar Consulting will be led by Kantar Retail global CEO Philip Smiley.
ESPN has started aggressively selling its sizable female audience to advertisers, The Journal reports. Northwestern Mutual, for instance, has developed different ad spots targeting women and families beginning with the College Football Playoff.
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