Month: March 2024

Trump’s Truth Social won’t capture serious market share, Sorrell says

Anna Barclay | Getty Images News | Getty Images

Advertising guru Martin Sorrell has questioned the prospects of Donald Trump’s newly public Truth Social platform, saying it was currently “unfathomable” that clients would want to buy ads on the site.

The British businessman told CNBC on Wednesday that the former U.S. president’s social media platform has yet to prove its financial viability in an already challenging advertising market.

“It’s a bit unfathomable. What are the revenues there?” Sorrell, founder and executive chairman of digital marketing firm S4 Capital, said when asked if clients were likely to advertise.

Trump Media & Technology Group (TMTG), the company behind Truth Social, went public Tuesday after merging with shell company Digital World Acquisition in a deal known as a special purpose acquisition (SPAC).

Shares jumped more than 50% during a volatile first day of trade, before ending the session up 16%, giving the company a market cap of around $7.85 billion, according to the Associated Press.

The listing pocketed the presumptive Republican presidential candidate a paper fortune of over $4 billion for his 58% share of the company at a time when he faces mounting legal challenges. He was on the hook for a $454 million bond in a civil fraud case, but the fee was reduced to $175 million Monday following an appeal.

The fanfare comes even as the company has struggled to demonstrate a path to profitability.

“It sort of defies reality, at least at the beginning,” said Sorrell said, who is also the founder and former CEO of ad agency WPP.

A spokesperson for TMTG firmly dismissed claims that the share price move defied logic when contacted by CNBC.

Truth Social lost $10.6 million in the first nine months of 2023 on revenues of $3.4 million. According to Semafor, the

Read More ...

9 reasons to get a business credit card

Many business credit cards offer rewards and benefits that are just as great as — and sometimes better than — those offered by the best personal credit cards.

Business cards often have huge sign-up bonuses, include unique category spending bonuses and offer several other perks.

However, some people might hesitate to apply for a business credit card, even if they’re eligible to do so. You don’t need to own a formal brick-and-mortar business to be approved for a business card.

Whether you’re a freelancer or someone starting out with a new side hustle, there are plenty of great reasons to add a business credit card to your wallet — here are some of the most compelling.

You don’t need a large business to get a business card

This seems to trip up many people who think you need an incorporated business with its own tax ID number or employee identification number to apply for a business credit card.

THOMAS BARWICK/GETTY IMAGES

That’s just not the case. In fact, you might be eligible for a business credit card without even knowing it. While you should aim to use your business credit card for work-related expenses, each credit card issuer has a different threshold for what information it requires for someone to get a small-business card.

Some, like American Express, are very flexible. Chase is generally the toughest, often requiring proof of your business, including government employer identification number (EIN) and business checking account information.

However, many small businesses start as simple DBAs (doing business as), which denotes a business name used by a person or entity different from the person’s or entity’s true name.

So if you start a small eBay business and want to keep those finances separate from your personal expenses, you might consider a small-business credit card to

Read More ...

China news: Boy grows up in ‘financial difficulty’, learns after graduation father owns ₹692-crore business

Zhang Zilong learned of his family’s vast wealth only after completing his university education. For years, he was under the impression that his family was struggling with debt due to the financial demands of running their business.

His father, Zhang Yudong established Mala Prince in the same year his son was born 24 years back. Annually, the leading Hunan spicy gluten snack brand churns out products valued at roughly 600 million yuan ( 692 crore), as per South China Morning Post (SCMP).

Despite the brand’s success, the younger Zhang grew up in modest surroundings in Pingjiang County, Hunan province in China. He would believe his family was in financial difficulty.

He even attended a prestigious secondary school in Changsha, the province’s capital, without leveraging any family connections. After graduation, Zhang Jr. harboured simple aspirations: securing a job with a salary sufficient to aid his family in overcoming their supposed debt.

The revelation of their true financial status came as a shock to him after university, when his family upgraded to a luxurious villa valued at 10 million yuan ( 11.5 crore). He entered the family business and joined the e-commerce sector. However, he received no special treatment from his colleagues.

Despite his newfound wealth, Zhang Jr. expressed a desire to steer clear of becoming a ‘fu er dai’ or a stereotypical second-generation rich individual, a term often used pejoratively in China.

His ambitions have since evolved; he aims to take the company public and expand its reach to international markets. His father has stipulated that ownership of the company would pass to him only if he proves his mettle.

Netizens react

The story has garnered reactions online on Douyin, the original version of the app that is internationally known as TikTok. The app is available only in China.

Read More ...

Definition and Examples in Business and Finance

What Is a Chinese Wall?

The offensive term Chinese wall describes a virtual barrier intended to block the exchange of information between departments if it might result in business activities that are ethically or legally questionable. Today, the term is considered problematic given its cultural insensitivities, and “ethical wall” is seen as a more appropriate term to prevent linguistic discrimination.

In the United States, corporations, brokerage firms, investment banks, and retail banks have used ethical walls to describe situations where there is a need to maintain confidentiality in order to prevent conflicts of interest.

Over the years, large financial institutions have used ethical wall policies as a means to self-regulate their business dealings by creating ethical boundaries between departments. However, these efforts have not always been effective. Thus, the Securities and Exchange Commission (SEC) has enacted regulations governing how financial institutions share information. The SEC has implemented fines, penalties, and legal consequences for companies that break these regulations.

Key Takeaways

  • An ethical wall is a business term used to describe a virtual barrier erected to block the exchange of information between departments in a company.
  • The wall is not a physical one, but an virtual one intended to prevent the sharing of information that might lead to ethical or legal violations.
  • In the financial industry, the need for such barriers grew with the enactment of the Gramm-Leach-Bliley Act of 1999 (GLBA), which repealed federal laws banning firms from any combination of banking, investing, and insurance services.

How Does an Ethical Wall Work?

The policy of building an ethical wall within a company is common in investment banking. Through their client relationships, investment bankers frequently have access to non-public, material information concerning publicly traded companies or companies that are about to become public through an initial public offering (IPO). Investment bankers

Read More ...

20 Awesome Examples Of Social Media Marketing

Technology makes the world seem a lot smaller.

Keeping up with friends and family on the other side of the country or across the globe no longer requires an expensive telephone call or slow, one-way snail mail.

Instead, thanks to the power of social media, we can bridge distances in the blink of an eye. In just seconds, you can share updates about your life or check in with anyone with internet access.

Social media has changed how we communicate and how we consume information and entertainment.

These platforms unlock a treasure trove of opportunities for savvy marketers, transforming how brands engage with their audience and share their stories on a global stage.

Why Is Social Media Marketing Important For Brands?

Social media platforms like Instagram, TikTok, X (Twitter), and Facebook – among others – present businesses with an opportunity to engage with a massive audience.

They are not just digital spaces for socializing; they are vibrant marketplaces.

As of 2024, the global social media user base had soared to over 4.8 billion people, representing an ever-expanding audience for brands – and a whole lot of potential customers.

Social media provides the opportunity for marketers to humanize their brand through compelling storytelling that showcases their identity and values.

With social media marketing, brands can weave their narratives, engage vast audiences without hefty budgets, and raise awareness and consideration for their company with a broader audience.

It’s also a powerful tool for building authentic relationships with your target consumer.

You can conduct real-time customer service, gather feedback (both positive and negative), and build brand trust over time by interacting and engaging with your social community across specific platforms.

In addition:

  • 68% of consumers follow brands on social media to stay updated about products and services.
  • The average time spent on social
Read More ...

Avalo Reports 2023 Financial Results and Provides Business Updates

Avalo Therapeutics

Avalo Therapeutics

  • Acquired AVTX-009, Phase-2 ready anti-IL-1β mAb, in March 2024

  • Increased cash position with private placement financing in March 2024 providing up to $185 million, including initial upfront investment of $115.6 million

  • Topline results from planned Phase 2 trial of AVTX-009 in hidradenitis suppurativa expected in 2026

  • Expected cash runway into 2027

WAYNE, Pa. and ROCKVILLE, Md., March 29, 2024 (GLOBE NEWSWIRE) — Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced business updates and year-end financial results for 2023.

“We are very excited about the acquisition of AVTX-009 and concurrent financing of up to $185 million, $115.6 million of which we received upfront. The progress we made in 2023 to strengthen our balance sheet helped enable these transactions. I am proud of the team’s efforts and continued dedication in executing our strategy focused on the treatment of inflammatory conditions,” said Dr. Garry Neil, Chief Executive Officer and Chairman of the Board. “Our focus in 2024 is executing operationally on the development of AVTX-009 for the treatment of hidradenitis suppurativa. Our experienced team is ready to hit the ground running on progressing the drug candidate and is motivated by the potential of developing a meaningful treatment for patients suffering from hidradenitis suppurativa, many of whom are searching for improved treatment options.”

Corporate Updates

  • On March 27, 2024, Avalo acquired AVTX-009, a Phase 2 ready anti-IL-1β mAb, through an acquisition of AlmataBio, Inc. The consideration included stock valued at $15 million, as well as a $7.5 million payment due upon closing of the private placement investment. Avalo is also required to pay development milestones to the former AlmataBio stockholders including $5 million due upon the first patient dosed in a Phase 2 trial in patients with hidradenitis suppurativa (HS) and $15 million due upon the first patient dosed in a Phase 3

Read More ...

CPG Will Reshape Marketing Strategies In 2024

2024 is shaping up to be a year of innovation for marketing activity in the CPG (Consumer Packaged Goods) industry says Mediaocean in a new report. Despite macroeconomic headwinds holding over from 2023, optimism pervades the advertising industry. Marketers are gearing up for an active year, expressing their intent to maintain or increase spending in nearly every media channel.

Background

CPG marketing historically has revolved around a focus on the company’s brands. A brand is a name, logo, word, mark, tagline, or any other identifying characteristic that separates a company’s product or service from other competitive offerings on the market. A brand is among the most important assets that a company has because it differentiates the company and helps keep the company in consumers’ minds. Brands are normally protected by using trademarks.

So, it is not surprising that companies invest a lot of time and money to create brand recognition. It is successful when people are able to recognize a brand through visual or auditory cues such as logos, slogans, packaging, colors, or jingles rather than being explicitly exposed to a company’s name. Logos like the Nike
NKE
swoosh and the Golden Arches of McDonald’s, and taglines like “They’re magically delicious” from Lucky Charms cereal and “I’m a big kid now” from Huggies Pull-Ups diapers all help further brand recognition.

A company’s marketing department works hard to come up with those cues and often conducts market research to determine the success of their brand recognition strategies. These brand recognition strategies are then used in advertising and marketing to drive customer purchases.

In the past, these advertising and marketing plans typically relied on multiple

Read More ...

Aerovate Therapeutics Announces Full-Year 2023 Financial Results and Business Highlights

Aerovate Therapeutics, Inc.

Aerovate Therapeutics, Inc.

WALTHAM, Mass., March 25, 2024 (GLOBE NEWSWIRE) — Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease, today announced financial results for the year ended December 31, 2023, and recent business highlights.

“Aerovate reached important milestones in 2023 with the achievement of full enrollment of the Phase 2b portion and the first patient enrolled in the Phase 3 portion of our IMPAHCT trial evaluating AV-101 for patients with PAH,” said Tim Noyes, Chief Executive Officer of Aerovate. “In 2024, we look forward to presenting baseline characteristics of IMPAHCT at the ATS international conference in May, as well as announcing Phase 2b topline data in June with the full Phase 2b clinical trial results to be presented at an upcoming scientific meeting. We remain confident that delivering our proprietary formulation of imatinib directly to the pulmonary vasculature via inhalation has the potential to achieve robust efficacy with a low side effect burden in PAH patients on two or three background therapies. As such, we continue to believe that AV-101 has the potential to be an important part of the future standard of care for PAH patients.”

2023 Highlights

Enrollment Complete and Topline Data Expected in June 2024 from Phase 2b Portion of the IMPAHCT Global Phase 2b/Phase 3 Clinical Trial. IMPAHCT (Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial) is a global Phase 2b/Phase 3 trial of AV-101, our self-administered, twice daily dry powder inhaled formulation of the antiproliferative drug imatinib for the treatment of PAH. PAH is a devastating disease impacting approximately 70,000 people in the United States and Europe. In November 2023, we announced completion of enrollment at 202 adult patients in the Phase 2b portion of the IMPAHCT trial,

Read More ...

Google Sandbox could push news publishers out of business

As Google prepares to remove third-party tracking cookies from its Chrome browser later this year, publishers, advertisers, and the UK Competition & Markets Authority are giving their proposed replacement — Google’s “Privacy Sandbox” ad system — a closer look.

Many don’t like what they’re seeing.

Google is developing Sandbox under a set of legally binding “commitments” intended to ensure that Google doesn’t abuse its dominant position in the online ad market. It can only introduce Sandbox once the CMA has signed off on the final product.

The CMA recently threatened to ban the company from implementing Sandbox entirely: “Google cannot proceed with third-party cookie deprecation until our concerns are resolved,” the CMA said in its most recent report on Sandbox. It wants “to ensure that Google does not use the tools in a way that self-preferences its own advertising services.” Currently, the CMA believes that Google is working to comply with its requirements: “Based on the available evidence, we consider that [in the most recent reporting period], Google has complied with the Commitments”.

Publisher cookies currently underpin much programmatic advertising revenue by allowing marketers to better target their messages at readers based on their interest and behaviour.

Thanks for subscribing.


Sandbox Topics: Clunky and gives control to Google

The CMA is specifically worried about one aspect of Sandbox, named “Topics”.

Content from our partners

The Topics system allows advertisers to target readers via a new function in their Chrome browsers which will track the most recent themes those users have shown an interest in. For instance, if an advertiser wants to reach users interested in “sport”, any publisher using Topics will be able to show an ad to any user if “sport” was one of the user’s top five browsing interests of the

Read More ...

Lucid Diagnostics Provides Business Update and Preliminary Fourth Quarter and Full Year 2023 Financial Results

Quarterly EsoGuard® revenue increased 33 percent sequentially

Expanding EsoGuard clinical validity and clinical utility data poised to drive medical policy coverage, including line of sight to Medicare coverage

Conference call and webcast to be held tomorrow, March 26th at 8:30 AM ET

NEW YORK, March 25, 2024 /PRNewswire/ — Lucid Diagnostics Inc. (Nasdaq: LUCD) (“Lucid” or the “Company”) a commercial-stage, cancer prevention medical diagnostics company, and majority-owned subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ) ( “PAVmed”), today provided a business update for the Company and presented financial results for the year ended December 31, 2023.

Lucid Diagnostics Inc., markets the first and only commercial tools for widespread early detection of esophageal precancer and cancer – the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device. (PRNewsfoto/Lucid Diagnostics)

Lucid Diagnostics Inc., markets the first and only commercial tools for widespread early detection of esophageal precancer and cancer – the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device. (PRNewsfoto/Lucid Diagnostics)

Conference Call and Webcast

The webcast will take place on March 26, 2024, at 8:30 AM, and be accessible in the investor relations section of the Company’s website at luciddx.com.  Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184 and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name “Lucid Diagnostics Business Update” to join.

Following the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the Company’s website at luciddx.com.

Business Update Highlights

“We are very pleased with the excellent progress Lucid has made on multiple fronts in the fourth quarter and recent weeks,” said Lishan Aklog, M.D., Lucid’s Chairman and Chief Executive Officer. “We saw solid revenue growth on stable test volume and our revenue cycle management processes are yielding improving allowances and stable pricing. Our #CYFT program targeting firefighters and other groups is thriving and we have a

Read More ...