Good morning! Here's everything you need to know in the world of advertising today.
1. Snapchat, WPP, and the Daily Mail just launched an ad agency. The new content marketing agency — called "Truffle Pig" — will test social content and marketing using Snapchat, the Daily Mail, and Elite Daily.
2. Facebook is about to open up its ad targeting tools to Instagram advertisers. This means that advertisers will be able to buy Instagram ads tailored for specific users more easily, and users will start seeing ads that are more targeted to their interests.
3. Google is launching a new project called "News Lab" to collaborate with journalists and build the future of news. The global team will arm journalists with tools — such as Earth, YouTube, and Maps — and data for news stories.
4. Instagram is killing Gap's business. The company's classic staples feel dated now that social media and blogs keep everyone up to date with the latest fashion.
5. Facebook is becoming a bigger outlet for large companies to market their products using online videos. Zuckerberg's company is quickly gaining ground on YouTube in this area.
6. Snapchat cofounder and CEO Evan Spiegel says his company's playful approach to business is the key to its popularity with users. Spiegel believes everyone in tech "is so serious all the time."
7. Twitter's board of directors has told investors that while its search for the company's next CEO is proceeding "with a sense of urgency," it may take time to find the right person. The board is looking for candidates both inside and outside of Twitter.
8. Volvo's "life paint" for cyclists won the Grand Prix in the Promo and Activation category at Cannes, AdAge reports. LifePaint, which was created by British agency Grey London, is a reflective spray which cyclists can spray on their clothes, backpacks, and other items to make sure drivers can see them at night.
9. Hyundai could be close to a sponsorship agreement with NFL, AdAge reports. Two people close to the matter told AdAge that the company might replace General Motors, which has ended its relationship with NFL.
10. A company has created a Tinder-like network especially for business encounters at Cannes. "Cannes We Meet" from video distribution platform Virool connects to LinkedIn and lets you match with other people's profiles.
