Party City, a North American supplier of party goods, announced on Monday that it will be piloting 50 new pop-up toy stores in the United States.
The new stores will be called Toy City and will be rolled out alongside its Halloween City pop-up stores. The locations will open in September of this year and will operate until the end of the holiday season.
The company’s CEO, James Harrison, stated that quote “The creation of a Toy City concept to complement our temporary seasonal retail strategy is a logical extension of our brand; one that will allow us to leverage our existing pop-up store capabilities and capitalize on the category whitespace that has recently been created.”
The announcement comes during the same week that Toys R Us will shut down its remaining locations in the US.
The company announced on Monday that it has entered into an agreement to acquire AppNexus, a marketplace that connects buyers and sellers of digital ads.
The company will be part of AT&T’s advertising & analytics business unit and will help the company accelerate its position in television advertising.
AppNexus employs more than 400 software engineers and product managers who specialize in machine learning, predictive analytics, advertising tech, and video.
The announcement comes weeks after its acquisition of Time Warner for $85 billion. The transaction is expected to close before October of this year. Terms of the deal were not disclosed, however, multiple reports speculate that the deal is reportedly between $1.6-2 billion.
Gray Television Merges with Raycom Media in a $3.6 Billion Deal
Joint Press Release
Both companies announced on Monday that they will merge to form the third largest television broadcast group in the United States.
The merger includes 142 television stations serving 92 markets and is expected to reach 24 percent of U.S. television households.
The transaction is planned to close before the end of the year.
Unilever Acquires a 75% Stake in an Italian Personal Care Company
Unilever Press Release
The company announced on Monday that it has entered into an agreement to acquire a 75% stake in Equilibra, an Italian personal care, and wellbeing business.
The company focuses on ‘natural’ personal care goods and is a leader in the nutritional supplements space in Italy.
Equilibra will operate as a standalone business. Terms of the deal were not disclosed.
According to Bloomberg, Instagram is Estimated to be Worth Over $100 Billion
Instagram was acquired by Facebook in 2012 for $1 billion after 18 months of operations. At the time of acquisition, it employed 13 people.
Bloomberg reported on Monday that if the company was a standalone organization, it would be worth $100 billion today. According to Bloomberg Intelligence Analysts, Instagram is likely to generate over $10 billion in revenue over the next 12 months, accounting for 16% of Facebook’s revenue during that time span.
Last week the company announced that it reached over 1 billion active users. It also launched a Youtube competitor that allows users to upload videos of up to 1 hour in length.
Andreessen Horowitz Launches a Cryptocurrency Fund
Andreessen Horowitz, a leading venture capital firm that has invested in companies such as Airbnb, Buzzfeed, and Facebook, announced on Monday that it will be launching a $300 million fund dedicated to cryptocurrency startups.
The firm stated in a blog post that it plans to hold onto investments at a minimum of 10 years, as the industry is still in its infancy. The firm also stated that the fund looks to invest in seed to late-stage companies globally.
According to regulatory filings in California, first reported on by Axios, the artist has launched a new venture firm called Marcy Venture Partners. There has been no official announcement on the fund itself, however, the artist has been known to invest in companies in the past.
Jay Z had previously invested in companies such as Uber, Tidal, and JetSmarter.