The 11th Hour Dispatch – Tuesday, March 27, 2018
BuzzFeed has hired Meredith Corporation’s former SVP and general manager of video Melinda Lee as its first-ever chief content officer of its new division BuzzFeed Media Brands. The massively popular Tasty brand will live under this new division, as well as DIY brand Nifty and wellness brand Goodful. Two new brands, As/Is, which focuses on beauty and style, and Playfull, which will cover all things parenting, will also join the family. BuzzFeed is likely looking to grow its roster of digital brands to a Tasty level of world domination. Lee, who has also worked for Cosmopolitan, Elle, Esquire, and Harper’s Bazaar on digital video content, will oversee editorial and business operations, advertising and partnership development, commerce, and BuzzFeed’s studio teams.
Chinese drone maker DJI is looking to raise $500 million in funding prior to a stock market debut in either Hong Kong or China in 2019. The capital injection would value the company somewhere around $15 billion, which is nearly double what DJI was valued at just three years ago in 2015. The company currently dominates nearly 70% of the commercial and consumer drone market, and it is looking to expand into agriculture, energy, construction, and infrastructure inspection. Global drone spend is projected to hit $9 billion this year and grow at a 30% rate over the next five years. Casey Neistat is also projected to continue to give them free promotion and treat the $1,500 drones like they’re dispensable children’s toys.
Google is acquiring the GIF company Tenor. Tenor currently powers GIF keyboards on smart phones and messenger apps like Facebook Messenger. The company, which reports that it sees 12 billion searches each month, will operate as its own entity under Google. Tenor is kind of the little brother in this ring in comparison to GIPHY, which sees 300 million active users. Every. Day. I’m surprised Google hasn’t scooped up one of the players in this space sooner, especially since they have worked hard to position themselves as Google’s bread and butter: search engines.
NOTHIN’ BUT ‘NET
This guy’s pop culture Post-it art is incredible and you should give him a follow. He’s really hurting with his measly 87.9K follower count. Remember: charity begins at home.