But let’s end on a positive note: three firms that I classify as Customer Data Platforms made it onto the Deloitte Technology Fast 500 list issued last week. They were Datorama (ranked 35 with 5,149% growth rate), Signal (rank 193 with 548% growth rate), and Tealium (rank 195 with 538% growth rate). Congratulations to them and happy Thanksgiving to all.
Fabled magazine publisher Time Inc. is being bought by slightly-less-fabled publisher Meredith Corporation for $2.8 billion cash. The $18.50 share price is a 46% premium over the stock’s recent level but well under the $25.95 all-time high in 2015. Meredith’s investment is supported by $650 million from the arch-conservative Koch brothers, who promise no involvement in editorial decisions. Sure.
And what about loyalty?
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.