The 11th Hour Dispatch — Friday, August 24, 2018

Photo by Celso on Unsplash

BINGE WATCH

Oh look! Another high-flying series from Apple. The company has ordered a series based on the 1951 book Foundation, which is the book that inspired Elon Musk to try to move us all to space. The trilogy the series will be based on explores a “scientific think thank” called the Foundation on a mission to “preserve the collective knowledge of humanity through a centuries-long dark age following the collapse of a 12,000-year-old intergalactic civilization.” The show will be executive produced by writer of The Dark Knight David S. Goyer and creator of Terminator: The Sarah Conner Chronicles Josh Friedman. Can’t wait to see final numbers on Apple’s content budget whenever we finally get a glimpse at this streaming service.

YOUNG MONEY

Photo by Bertrand Gabioud on Unsplash

Popular ticketing platform Eventbrite has filed to go public. The company did not disclose a target amount, but it plans to use the funds to grow its capitalization and pay off its $66.36 million debt total. In December 2017, Eventbrite had transacted 46.7 million tickets on its platform. It also posted a net loss of $38.55 million, which has been decreasing this year. In the first half of 2018, the company has only reported $15.58 million in losses. For comparison, one of Eventbrite’s biggest competitors, Live Nation, sold around 500 million tickets last year, but reported $6 million in losses. Eventbrite, which makes money by taking a portion of paid ticket prices, is primarily focused on small creator events that are more often than not free of cost to attendees. Since its founding in 2016, the company has raised $332 million, most notably of which from Tiger Global and Sequoia Capital, which each currently own about 20% of Eventbrite. Goldman Sachs is set to serve as the lead underwriter for the company’s eventual IPO.

BIG BUSINESS

Facebook has hired a new CMO to try to clean up the mess it’s made of its brand this year. Antonio Lucio will join Facebook from HP, where he has served as CMO for the past three years. Lucio will officially join the big FB on September 4 when current CMO Gary Briggs steps down. On top of dealing with Facebook’s whole deal, Lucio will also oversee the Facebook app family, including Instagram and Whats App which each do not currently have CMO positions. Prior to HP, Lucio served as CMO of Visa and various positions at PepsiCo including Chief Innovation and Health and Wellness Officer, CMO for beverages, and VP of international marketing operations. Forbes has named Lucio the №2 most influential CMO, and he has racked up many awards for his diversity and inclusion efforts. His existence alone will bring a welcome dose of diversity to Facebook, the CEO, COO, CFO, CTO, and CFO of which are all white.

NOTHIN’ BUT ‘NET

Bet you didn’t know you needed a Lil Yachty x Donny Osmond collab about canned ravioli.


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