Apple CEO Tim Cook. Karl Mondon/Digital First Media/The Mercury News via Getty Images
Apple targeting controls arrive
Apple released its long-awaited software change that, among other things, requires developers to get users permission to track them across other sites and apps but it s already been having ripple effects:
Advertisers are fretting about how Apple s policy will limit campaign measurement and attribution, especially on Facebook.
The change could wipe out as much as 7% or $5 billion of Facebook s total revenue in the second quarter of 2021, estimated mobile consultant Eric Seufert.
There s opportunity for others as marketers lean more on first-party data like email addresses and look for help solving issues like measurement and identity. We identified 12 companies best positioned to ride out Apple s privacy changes.
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Memo, a startup that helps measure public relations work, has raised $7 million in seed funding.
Susa Ventures and MHS Capital led the funding round.
Memo plans to use the proceeds to more than double its headcount to about 50.
Memo, a public relations software company, has raised $7 million in seed funding to help take on the likes of Cision, the world s largest PR tech vendor.
Founded in 2018 by Eddie Kim, Memo says it can show exactly how many people have read an article and how they read it, through exclusive agreements with publishers like Condé Nast, Forbes, and The Washington Post. It claims its approach is more accurate than other PR software companies that rely on third-party data. Its clients include Google, Samsung, and Walmart.
SPACs, or special purpose acquisition companies, allow companies to go public outside the traditional IPO process.
The increase in SPACs and traditional IPOs could be lucrative for the PR industry as target companies, which often don t have their own investors relations division, call on public relations pros to put their business model in the best light.
ICR CEO Tom Ryan said that his firm s annual revenue increased by 20% year-over-year to $106 million in 2020 due to its work on SPACs. One of the best known IPO players, ICR advised on more than 50 SPAC deals in 2020, equivalent to about 20% of the total market.