Don’t confuse a drop in martech funding with a drop in martech investment. Most studies show markets continue to invest at the same or higher levels as last year. For example, Gartner’s widely-cited CMO Spend survey found over-all marketing budgets rose sharply as a share of revenue and there was no meaningful change in the percentage spent on martech.
When public markets pull back, private investors often step in to scoop up perceived bargains. Private equity firm Clearhaven Partners just did that, spending something over $100 million for a majority stake in video creation and personalization platform SundaySky. Sunday Sky just published a study showing how marketers struggle to create videos the old-fashioned way.
The Irish regulator intends to have the EU crack down on Meta’s transatlantic data transfers, including for Facebook and Instagram, and has a new draft decision that will also make it harder to use standard contractual clauses (SCCs). If other EU regulators approve, this will be a concern for the business community overall.
Procrastinators of the world can throw a party whenever they get around to it: Google has once more pushed back complete third-party cookie deprecation. The new target is “early next year.” Reasons for the delay include concerns expressed by U.K. data regulator Information Commissioner’s Office, an ongoing inquiry by the U.K. Competition and Markets Authority, and widespread discontent in the advertising ecosystem.