Morning all, here’s a glimpse at all the media and marketing news you should know today.
1. Pinterest has raised $367m from investors, valuing the startup at $11bn according to Bloomberg. The online scrapbooking site has been working to build out its advertising model, through which brands can pay to promote their posts.
2. Ebay will stream Sotheby's New York auctions live beginning next month, says Tech Crunch. The new platform will pair the auction house's 270 years of experience selling art and antiques with eBay's 155 million active users worldwide.
3.Uber's chief financial officer is to depart, reports the New York Times. Brent Callinicos will leave just two years after he joined the ride-sharing firm, in what will be one of the highest-level departures yet for the six-year-old startup.
4. Meanwhile Lyft chief executive Logan Green used his keynote speech at SXSW to announce that his brand would learn from Uber's global expansion problems, notes Adweek. He said his the issues faced by his competitor when trying to make a dent in other countries was an "unreported story" adding that its global strategy "isn't working".
5. Adidas is planning a major shift in strategy for its basketball division claims Business Insider. The company will not extend its apparel deal with the NBA, which is thought to be worth around $36m, after the NBA opened the bidding to Nike and Under Armour.
6. National CineMedia and Screenvision have called off their merger, writes MediaPost. The two leading cinema ad networks said they are canceling their agreement due to regulatory opposition.The US department of justice had filed a lawsuit seeking to block the partnership on anti-competitive grounds last year.
7. US cloud providers are facing backlash from China’s censors, claims the Wall Street Journal. American companies are facing disruption as free-speech activists turn to Amazon, Microsoft and Akamai to disguise internet traffic by tunneling it through cloud servers run by the firms.
8. Apple could be ready to launch its long-awaited online television service by the fall, says Fortune. The company is aiming to provide a slimmed-down service covering around 25 channels for between $30-$40 a month which will be available across all of the its iOS-driven devices.
9. Android customers may soon be able to trade-in non-Apple phones for a gift card to be used towards the purchase of a new iPhone in any Apple store, reports Business Insider. Apple would determine the value of the phone based on its condition and numerous other factors.
10. And Google has raised a few eyebrows after pleading with Mozilla users to switch their search engine to Google, according to VentureBeat. The automated browser message comes four months after Mozilla announced it was dropping Google in favor of Yahoo Search as the default on Firefox.