Hi and welcome to Insider Advertising for April 2. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
If this email was forwarded to you, sign up here for your daily insider’s guide to advertising and media.
- Fernando Machado, CMO of Burger King parent company Restaurant Brands International, has resigned, Patrick Coffee and Tanya Dua reported.
- Machado said he has accepted a new job but declined to give details.
- The former Unilever exec joined Burger King in 2014 and was promoted to lead RBI’s marketing in 2020.
- Spotify announced this week it had acquired Locker Room, a live-audio app similar to Clubhouse, Paige Leskin reported.
- Analysts said that it is the latest step by Spotify to create a full ecosystem for podcast production.
- Spotify has invested hundreds of millions into podcasting since 2019 to diversify its revenue apart from music streaming.
Harry’s doubles down on growth with $155M in new funding, valuing the company at $1.7B one year after its deal with the maker of Schick fell through
- Harry’s just raised $155 million in Series E funding, bringing its value to $1.7 billion, Alex Bitter reported.
- The money could fund Harry’s expansion into new products and parts of the world.
- It’s a change in strategy for Harry’s, which was on track to be acquired by Edgewell in 2020.
More stories we’re reading:
- The ultimate guide to getting a job at YouTube, according to current employees and its global staffing director (Insider)
- Ad agency Phenomenon, which worked with Pepsi and DC Entertainment, parts with its CEO and founder after 15 years (Insider)
- Amazon has reportedly looked into opening its own discount stores for electronics and home goods (Insider)
- Former Parler CEO John Matze launched a GoFundMe page to crowdfund his legal fees (Insider)
- Meadowlark raises $12.6 million from Michael Lynton, DraftKings, others (Sportico)