Credit:
WPP
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WPP has returned to growth in its first quarter, the company announced this morning, beating analyst expectations with a rise in organic revenue of 1.3%. Like-for-like revenue rose in four out of its top five markets, up 3.9% in the U.K., 0.7% in the U.S., 2.5% in Germany and 18.4% in Greater China, only declining 0.5% in India. The holding company was boosted by $1.3 billion in net new business, including Absolut’s global creative and JP Morgan Chase global media. VMLY&R was the best performing integrated agency with organic sales growth of 2.8%.
Index Ventures recently sold about half its shares in Iterable, The Information reported.
The sale, to Silver Lake Partners, came before Iterable s CEO was fired for LSD use while at work.
Two investors on the board previously had concerns about the CEO s leadership, The Information reported. Prior to marketing startup Iterable firing its CEO, Justin Zhu, this week, a major investor sold roughly $92 million of its shares in the company, The Information s Kate Clark reported Wednesday.
Iterable, founded in 2013 by Zhu and Andrew Boni, made headlines this week after Bloomberg reported that its CEO had been fired for violating company policy. Zhu told Bloomberg he had used LSD while at work in an effort to boost his focus and creativity, taking a small dose of the drug in a practice commonly known as microdosing before an investor meeting in 2019. Boni is taking over the top job as a result of Zhu s departure.
by Tyler Durden
Wednesday, Apr 28, 2021 - 03:05 PM
Psychedelic drugs have been a hot topic in the financial press this week. Between the hallucinatory experiences of a German billionaire, and the market debut of magic mushroom company MindMed eliciting talk of a shroom boom , most of that coverage has been refreshingly positive. But that changed Tuesday morning when Bloomberg reported that the CEO of a $2 billion startup has been unceremoniously fired for microdosing with LSD at work.
The board of Marketing startup Iterable dismissed the CEO, Justin Zhu, for taking LSD before a meeting back in 2019. Zhu told Bloomberg he had experimented by taking a small amount of the drug (a practice known as microdosing ) in an attempt to boost his focus. Looking back, he probably should have kept this information to himself.
CEO на стартъп за $2 млрд бе изгонен заради употребата на LSD money.bg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from money.bg Daily Mail and Mail on Sunday newspapers.