The 11th Hour Dispatch – Tuesday, March 20, 2018
Cheddar has announced the launch of its second news network after closing a $22 million Series D funding round. Cheddar Big News will hit the internet in April and serve up national news “with the style of a local broadcast.” The channel will include politics, business, sports, and weather, but partisan pundits typical of 24-hour news networks are not welcome. It will also unfortunately not cover any cheese-specific content, which is a really big loss in my opinion. The Cheeseheads will also roll out a Snapchat Discover channel alongside the network. The company claims a viewership of 10% of U.S. millennials, and 58% of its overall audience has a net worth of more than $250,000.
Amazon has officially surpassed Alphabet in market value. Amazon is currently worth $763.27 billion while Alphabet is valued at a cute $762.98 billion. Amazon’s stock is up nearly 29% since early January. Alphabet’s first quarter has been a little more tumultuous as Amazon continues to soar and take over every aspect of our lives. Even though this all sounds great, the other A is still the biggest company by market capitalization. Yup, you guessed it. Apple.
Google is committing $300 million to fighting fake news. Today, the company launched Google News Initiative, a program that brings new tools and partnerships to newsrooms to help “strengthen quality journalism.” The most notable of these new tools is Subscribe with Google, a feature that allows people to sign up for subscriptions to news outlets with the previously used billing information Google already has on file. This will make it easier for users to subscribe to quality news and also help the publications drive subscription revenue as Facebook and Google continue to make it harder for publishers to make ad revenue.
NOTHIN’ BUT ‘NET
Shia LaBeouf is playing his dad in a film about himself because of course he is.