‘Always On’ is at the heart of every ABM strategy — here’s why

As a B2B marketer, you are often caught trying to serve two masters: the need to drive engagement for specific campaigns or periods relative to the business vs. the overall goal to drive persistent ROI throughout the year. In any scenario, it’s becoming more clear that the “campaign” mentality no longer serves.

Even marketing’s cousin, advertising, has evolved. In the age of programmatic and audience-based, data-driven marketing, advertisers have already moved away from the campaign a
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Bitcoin and other cryptocurrencies are just getting started, says Spark Capital’s Megan Quinn

Quinn, an investor in the crypto trading platform Coinbase, says “the toothpaste is out of the tube.”

The decentralized virtual currency called bitcoin has been around for nearly a decade, but it’s just recently starting to find mainstream attention and, in some circles, acceptance. That shift is thanks in no small part to the skyrocketing value of bitcoin, the world’s best-known “cryptocurrency,” from $1,000 near the start of the year to nearly $20,000 today.

For investors like Spark Capital General Partner Megan Quinn, “the toothpaste is out of the tube.” On the latest episode of Recode Decode, hosted by Recode’s Kara Swisher and The Verge’s Casey Newton, Quinn explained her investment in Coinbase, a company that is trying to position itself as the safe place to trade cryptocurrencies.

“People were sleeping on each others’ couches and renting rooms before Airbnb, but Airbnb provided that really safe, clean, approved — you got feedback, it was a transaction,” Quinn said. “You felt good about it. We think Coinbase is providing that sort of experience for trading crypto.”

You can listen to Recode Decode on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.

Someday, Quinn said, the value of cryptocurrencies like bitcoin will level off enough that we will be able to start treating them like real money. But that day is not today.

“Today it’s speculative, 100 percent,” she said. “One of the folks on my team said he was liquidating his 401k to buy in, which made me pretty nervous. I’m optimistic that it will actually be a tool for transacting, once we reach some steady state.”

“In a world where it’s going up by a thousand dollars every couple hours, you don’t want to go to Overstock.com and buy a mattress,” Quinn added. “But if we can get to a place where it’s steady-state, I think there’s real opportunity there.”

So, who should buy into bitcoin now, when the price is so volatile? Talking to Swisher and Newton a few weeks ago, when the price was a measly $17,000, Quinn warned not to trust any of the “false prophet[s]” who claim to know when the roller coaster ride will be over; buying in now only makes sense for people with a lot of disposable income, she added.

“If you have a spare $17,000 that you are fine seeing go to zero, okay, fine, that’s not the worst way to spend it,” she said. “I don’t think cryptocurrencies, or bitcoin specifically, is ever going to go to zero. But I think if you’re someone who’s willing to have it go to zero, then you can ride out the stomach-lurching volatility that we’re going to continue to see for a while.”

If you like this show, you should also sample our other podcasts:

  • Recode Media with Peter Kafka features no-nonsense conversations with the smartest and most interesting people in the media world, with new episodes every Thursday. Use these links to subscribe on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.
  • Too Embarrassed to Ask, hosted by Kara Swisher and The Verge’s Lauren Goode, answers the tech questions sent in by our readers and listeners. You can hear new episodes every Friday on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.
  • And Recode Replay has all the audio from our live events, including the Code Conference, Code Media and the Code Commerce Series. Subscribe today on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.

If you like what we’re doing, please write a review on Apple Podcasts — and if you don’t, just tweet-strafe Kara.


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Germany Says Facebook Abuses Market Dominance to Collect Data

Germany’s top antitrust enforcer opened a new front against big tech firms when it said the way Facebook harvests user data constitutes an abuse of dominance.
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Recode Daily: A final vote is imminent on Trump’s $1.5 trillion tax bill after House approval

Plus, Facebook is expanding facial recognition across its products, Stitch Fix releases its first earnings report since going public, and the best seats on Broadway.

Republicans in the House and Senate approved a sweeping $1.5 trillion tax plan. Trump is expected to sign it within days. Andrew Ross Sorkin: “The tax bill soaks some … rich Americans — but it does not soak the richest.” [The New York Times]

Facebook knows when someone uploads your picture to Facebook — now it will alert you about the photo, even if you aren’t tagged in it.The company is improving privacy settings and expanding its use of facial-recognition technology “to prevent people from impersonating other people” on the service. Users will now be asked to grant Facebook permission to use facial recognition broadly across its products. [Kurt Wagner / Recode]

Stitch Fix released its first-ever earnings report, and its shares fell by 12 percent. The online personal styling service is spending more on advertising and attracting new customers that want more less-expensive clothing, so CEO Katrina Lake said the company will increase lower-price-point sales this year. [Jason Del Rey / Recode]

Bitcoin prices are moving around a lot. Because bitcoin. Something called Bitcoin Cash is way up. Plain old bitcoin fell dramatically and is climbing back up again.

Ziff Davis executives addressed their new employees at Mashable, who promptly leaked the comments to the press. Reasonable advice from Ziff Davis COO Steve Horowitz to the company, which he bought at a fire sale price: “You guys are a Coke brand. Never forget that. Let’s make sure that we’re doing everything we can to stay at that level and not get down into Tab village.” [David Uberti / Splinter]

Top stories from Recode

Bitcoin and other cryptocurrencies are just getting started, says Spark Capital’s Megan Quinn. An investor in the crypto trading platform Coinbase, Quinn says “the toothpaste is out of the tube,” on the latest episode of Recode Decode.

This is cool

The best seats on Broadway.

The Procter & Gamble toilet paper brand Charmin has opened a pop-up space near Times Square in New York City to offer 14 clean and free public bathrooms through Christmas Eve. Of course, this is a marketing stunt called an “out-of-home (OOH) activation,” a way to create a more personal touch with audiences as digital channels are dominating marketing strategies.


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57 startups became unicorns this year and seven lost their horns

2017 is the third-busiest year for companies reaching $1 billion valuation.

The unicorn club gets new members by the week. This year alone, 57 startups around the world attained unicorn status with a valuation of $1 billion or more, according to data from venture capital tracker PitchBook.

Seven companies that were once considered unicorns have seen their valuation dip below $1 billion so far this year, either through down rounds or down exits. Last year there were only three down rounds or exits. The Honest Company and Prosper both saw their valuation shrink below $1 billion in subsequent funding rounds, according to PitchBook. Down exits this year included Souq.com, which was acquired by Amazon for $650 million, and Shazam, which Apple purchased for $400 million.

Overall 2017 wasn’t the biggest year for unicorns — that award goes to 2015, which boasted 81 new unicorns — but it certainly has been busy.

Social platform Reddit, bitcoin marketplace Coinbase and ride-hail company Careem are among the notable entrants this year. Synthetic biology company Ginkgo Bioworks is the latest inductee into the group, thanks to a $275 million funding round last week.

Altogether there are now a total of 227 active unicorns, according to PitchBook.

Here’s a look at the companies that have attained unicorn status this year, by their valuation and how much venture capital they’ve raised. Revenue data is available from the few private companies that made that information public. Click on a company to see its industry category.

A few notable stats from this year’s unicorns:

  • Content recommendation platform Toutiao had the highest valuation, VC raised and revenue of all the unicorns this year.
  • Four startups — Outcome Health, SenseTime, VIPKid and Mobike — had at least one female founder.
  • About half of this year’s startups focus primarily on information technology and software.

The PitchBook data included goes through Dec. 14.


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As GDPR Looms, Privacy Tech Is On The Rise

AdExchanger |

The May deadline to comply with Europe’s General Data Protection Regulation (GDPR) is swiftly approaching, and ad tech and security startups are forming a new industry: privacy tech. Companies like PageFair, Evidon, Prifender, Tealium and Segment hope to capitalize with GDPR compliance solutions for brands, publishers and even other ad tech vendors. The International AssociationContinue reading »



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Uber has hired former Orbitz CEO Barney Harford as its first-ever COO

Harford and Uber CEO Dara Khosrowshahi worked closely together at Expedia.

Uber is filling another key role in its executive ranks just as the year turns. The ride-hail company has hired former Orbitz CEO Barney Harford to be its first-ever chief operating officer.

Harford, who has been learning the ropes at Uber as an adviser since October, worked closely with Uber CEO Dara Khosrowshahi at Expedia. Before becoming CEO of Orbitz — which Expedia later acquired — Harford led Expedia’s push into Asia while Khosrowshahi was CEO. He begin his official work as COO on Jan. 2.

His appointment comes as Uber embarks on an important year. Coming off a year wracked with public scandal, Khosrowshahi is under a great deal of pressure to turn the company around in 2018. Adding to that, the long-time travel executive has his sights set on taking the company public in 2019.

Harford joins a growing C-suite. In October, Khosrowshahi appointed former Pepsi executive Tony West to be Uber’s chief legal officer. The next priority for the company is to fill the CFO role.

“I have never met a stronger operator or a more thoughtful strategist than Barney,” Khosrowshahi wrote. “He is able to go deep on key aspects of a business while never losing sight of the big strategic picture. He loves engaging with operations, marketing, product, and engineering teams around hard problems, and is passionate about using technology to transform the world.”


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Walmart is developing a personal-shopper service for rich moms — and a store with no cashiers

This ain’t your grandpa’s Walmart.

When Walmart paid $3 billion for Jet.com and its founder Marc Lore, the promise was that the entrepreneur would help the retailer appeal to new types of customers.

Here’s the next step in that evolution.

A new Walmart subsidiary, called Code Eight, has recently started testing a personal shopping service for “busy NYC moms,” according to multiple sources, with the goal of letting them get product recommendations and make purchases simply through text messaging.

The target customer of Code Eight is described in an online job listing as a “high net worth urban consumer” — translation: A rich city dweller — certainly not the historical sweet spot for Walmart’s main business.

Household items are delivered for free within 24 hours; other purchases are delivered within two business days. Returns are picked up for free at a customer’s apartment building or house.

Walmart’s startup incubator, Store No. 8, is also working on another under-the-radar project, dubbed Project Kepler. This effort aims to reimagine the in-store shopping experience with the help of technologies like computer vision.

Multiple people familiar with the project tell Recode that one goal of the initiative is the creation of physical stores that would operate without checkout lines or cashiers — in a similar fashion to Amazon’s futuristic Amazon Go store, which was announced a year ago but has yet to open to the public.

A Walmart spokesperson declined to comment.

Taken together, these Walmart initiatives mark a major leap in the vision for the type of businesses Walmart will operate, and customers it will serve, five or 10 years down the line. But since both business strategies are in early stages, there is no guarantee that either will develop into a long-term business or launch widely.

Walmart had previously announced that Rent the Runway co-founder Jennifer Fleiss is heading up Code Eight, but has revealed little to no details about the startup.

Recode has learned that Code Eight plans to eventually charge a membership fee, but current testers are using it for free. The personal-shopping service is currently focused on items in “health & beauty, household essentials and apparel/accessories” categories, according to a job listing. It’s not clear if the startup is sourcing this inventory from Walmart and its subsidiaries, or from outside retailers.

Code Eight has told early users that they can order products simply by texting a photo of it. They can also message with a general request for a type of product they need, and leave it up to the service to pick the specific item for them; customers fill out a survey upon joining that is supposed to help personalize their experience.

One source says that the Code Eight product has the appearance of an automated bot, but seems like a human is actually the one communicating on the other end of the message. That may change over time.

“[W]e set our sights on taking the lead in conversational commerce by leveraging machine learning, NLP, and personalization algorithms,” a Code Eight job listing reads. NLP refers to natural language processing — essentially, how a computer turns a human’s spoken or written request into instructions it can process.

The Project Kepler project focused on the future of in-store shopping is being led by Mike Hanrahan, the co-founder and former chief technology officer for Jet.com, multiple sources tell Recode. It is located in Hoboken, N.J., where Jet is based.

A Project Kepler job listing for a “computer vision engineer” says that the role will involve creating a “best-in-class consumer experience in the physical retail space.”

Amazon’s Go concept uses a combination of sensors and cameras to track what each store shopper takes off of shelves so it can automatically bill them for their purchase without their having to stop to pay on the way out. The store’s launch has been severely delayed, however, with reports that the technology did not work well when the store was crowded.

Walmart is envisioning a similar system that would potentially eliminate the need for cashiers in stores outfitted with the technology. Walmart has more than two million employees worldwide, many of whom work at checkout.

But it’s possible that the Project Kepler technology would be used in new types of store formats, rather than be retrofitted for existing stores. This project is just one of several across Walmart focused on what the retail store of the future should look like, according to a source.


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Will Brands Be Ready For Monetization In 2018?

AdExchanger |

“Data-Driven Thinking” is written by members of the media community and contains fresh ideas on the digital revolution in media. Today’s column is written by Trey Stephens, director of audience monetization at Acxiom. As 2017 comes to a close, it’s a great time for brands to assess ways to improve marketing strategy and better capitalizeContinue reading »



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NFL Ad Revenue Is Up, and Makegoods Are Down, During This Season’s First 3 Months

NFL Ad Revenue Is Up, and Makegoods Are Down, During This Season’s First 3 Months
NFL ratings are down this season, but in-game ad revenue continues to grow year-over-year this season, according to new data from Standard Media Index. This season’s NFL revenue, from September to the end of November, is up 2 percent among all networks. There was one additional nationally aired linear TV game than in the same…
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