Even Elon Musk is jumping on the anti-Facebook bandwagon, Adobe prepares to host some A-listers for its Digital Marketing Summit, and a successful Dropbox IPO could inspire more startups to go public.
The backlash against Facebook continues this week. With politicians demanding answers and many users upset about how Cambridge Analytica got its hands on their data, the #DeleteFacebook movement continues. Facebook’s stock took a hit last week, losing billions in market value after news of the data breach broke. That was partially recovered following CEO Mark Zuckerberg’s response, which included a live to air interview with CNN. Now other firms might be jumping on the backlash bandwagon. Sonos says it’s pulling all Facebook ads this week. Mozilla says it will stop advertising until privacy concerns are addressed. And Elon Musk has deleted the Tesla and Space X Facebook pages on a whim, after being dared to do so on Twitter.
Bound to be popular among the digital marketing industry, Adobe Summit is taking place this week in Las Vegas. Every year Adobe brings A-list celebrities to its show for inspirational talks, and even to help evaluate new product feature concepts. This year is no different with Virgin Group founder Richard Branson sitting down to an interview with Adobe chief marketing officer Ann Lewnes. Plus, Saturday Night Live’s Leslie Jones will be co-hosting the Adobe Sneaks session to critique new software features; and Beck will perform a concert for attendees. Wait, why did I send my reporter to cover this instead of me?
Are tech IPOs hot again? Judging by Dropbox’s success last week, many on Wall Street are hoping so. The cloud storage firm went public after a decade of grinding to raise venture capital money. The fundamentals behind Dropbox look good. It’s pulling in more than $1 billion in revenue annually, counting 500 million registered users, and 11 million paying customers. This is a firm that’s not only a popular consumer product, but has made headway in the enterprise space with collaboration tools. We’ll see if some other tech startups are inspired to IPO based on this success.
That’s what’s trending this week. Hashtag Trending is produced by IT World Canada. Today’s episode is sponsored by Cogeco Peer 1, the company that enables businesses to unlock their IT potential. Learn more at CP1.com.