Shoppable video is the mirror image of retail media: instead of selling someone else’s ads on a retail website, it lets companies convert their own website into a retailer. Maybe that makes no sense, but the symmetry is appealing. What’s even more appealing is $150 million, which is how much livestream platform Firework just raised in a Series B, brining total funding to $369 million.
Retail media has quickly moved from quirky curiosity to major channel. If you’ve been avoiding the topic, this dunnhumby report offers a good way to catch up. The report says retail media could be worth $50 billion this year, putting it in the same ballpark as direct mail ($43 billion) and linear TV ($63 billion)
BUD, a Singapore-based metaverse user-generated platform, announces its $36.8 million Series B round led by Sequoia Capital India. The company intends to use the fresh funding to further develop its creation tools, grow its global user base and roll out web3 products for its metaverse ecosystem. It has also revealed clear plans to launch its own non-fungible token (NFT) marketplace.
Salesforce has reversed course on its bid to acquire data management and integration platform Informatica a source has told Reuters. Informatica itself said that it is not in talks to be acquired. Salesforce stocks rose on this latest news while Informatica’s fell.