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Why OpenAI is hiring 100 ex-bankers: Inside the ChatGPT-maker's secret project to automate Wall Street's grunt work
Myntra–Meesho–Nykaa boost creator commerce | IBM starts $330M media review | EU opens probe into Google’s alleged misuse
Storyboard18 brings you top five news updates from the world of advertising, marketing, and business of brands.
Industry analysts believe that government policy changes, including tweaks in GST slabs, could support a rebound in e-retail growth (Image: Growtika; Unsplash)
Storyboard18 presents FAST FIVE ⬇
We bring you top five news updates from the world of advertising, marketing, and business of brands.
Myntra, Meesho, Nykaa intensify creator-led commerce efforts as India’s $125 billion e-retail market evolves
India's e-commerce majors are doubling down on creator-led shopping. Growth in the country's online retail market has cooled for the past two years. Amazon, Myntra, Nykaa, and Meesho are expanding their "content commerce" efforts--short videos, makeup tutorials, and styling guides in shopping feeds--to boost conversions and keep users engaged.
Notably, the platforms acknowledged that creator-led content is emerging as a key differentiator, along with the traditional growth levers such as wider assortment and faster delivery.
IBM calls for global agency review of $330 million media business
IBM has initiated a review of its global media mandate — a business valued at around USD 330 million annually — as per Ad Age. The move comes at a time when the company is reshaping parts of its global marketing organisation and sharpening its focus on data-driven enterprise platforms.
According to the Ad Age report, WPP Media, the incumbent, has opted not to defend the account, thereby ending a multi-year partnership overseeing IBM’s media planning and buying duties across multiple markets.
Rajasthan Royals exploring majority stake sale; target valuation above $1 Billion
British-Indian entrepreneur Manoj Badale, who controls IPL franchise Rajasthan Royals, has reportedly begun early-stage discussions to explore a strategic transaction that could see a majority stake, or even a full buyout, change hands, multiple people familiar with the matter told Moneycontrol. Rajasthan Royals won the inaugural IPL title in 2008.
Paramount’s hostile bid for Warner Bros. draws an unusual mix of billionaires, banks and Gulf wealth
Paramount Skydance’s hostile move on Warner Bros. Discovery has pulled together an uncommon coalition of financiers — from US banking giants to Gulf sovereign funds and the US president’s son-in-law - in a bid to upend Netflix’s competing offer.
Bank of America, Citigroup and Apollo Global Management have committed to a $54 billion bridge loan, while RedBird Capital Partners and Larry Ellison are backstopping roughly $40.7 billion in equity.
EU launches formal investigation into Google’s alleged misuse of publisher and creator content for AI
The European Commission has opened a formal antitrust investigation to assess whether Google has breached EU competition rules by using the content of web publishers, as well as content uploaded on the online video-sharing platform YouTube, for artificial intelligence (‘AI') purposes.
The investigation will notably examine whether Google is distorting competition by imposing unfair terms and conditions on publishers and content creators, or by granting itself privileged access to such content, thereby placing developers of rival AI models at a disadvantage.
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“Two drunks leaning on a lamppost”: Sir Martin Sorrell on the Omnicom–IPG merger and the turbulence ahead
In a wide-ranging interview with Storyboard18, Sorrell delivers his frankest assessment yet of how the deal will redefine creativity, media, and talent across markets.