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  • 12.29.16

Morning intel: Snap preps its IPO campaign, Amazon outspent physical retailers on TV ads

Snap Inc. is honing its pitch for an initial public offering next year, but it might not be an easy sell. The company is expected to promote its plans to become a content powerhouse, the Wall Street Journal reports. But according to investors, it could be a long shot: Snap hopes to reach a valuation upwards of $25 billion, which is nearly 27 times the amount of ad revenue it will generate next year. That’s a multiple of market cap to ad revenue greater than both Facebook‘s and Twitter‘s.

China’s solution to a soft box office? Delete negative reviews. After another round of high-profile Chinese films fell short of expectations, the state-sponsored publication People’s Daily posted an editorial blaming “vicious and irresponsible reviews,” according to the Hollywood Reporter. In response, one of the singled-out sites, Maoyan, deleted professional reviews from its home page, leaving only glowing, user-generated feedback on failed movies like the big-budget (and controversial) Matt Damon-helmed The Great Wall.

Autonomous braking may have prevented the Berlin attacker from claiming more lives. In a seemingly rare bit of positive data concerning safety and autonomous-driving features, investigators of the Berlin terrorist attack that killed 12 people earlier this month have found that the assailant’s truck stopped some 300 feet after it sensed a collision, German media reports. In 2012, the European Union set guidelines establishing such braking features for vehicles.

Amazon outspent its brick-and-mortar competitors on holiday TV ads this year. Recode reports that in October and November, the e-commerce giant spent around $135 million on TV spots, more than both Walmart and Target. (Compare that to five years ago, when Amazon spent $156 million on all forms of advertising over an entire year.)JJM