HomeNews & updatesDigiday DealBook: Musk’s uphill battle to acquire Twitter, Shutterstock’s continued growth, new...

Digiday DealBook: Musk’s uphill battle to acquire Twitter, Shutterstock’s continued growth, new consumer insight deals and more – Digiday

Welcome to Digiday’s DealBook. Our focus is to create a quick and easy rundown of the deals acquisitions and hires taking place the previous week. The goal is to inform and update you on the latest happenings in the industry at the top of your inbox each Monday.  — Carly Weihe
—Twitter remained in the spotlight last week as shareholders sued Elon Musk and Twitter itself for driving stocks down due to sowing doubt in the potential acquisition deal in his Tweets following its public announcement last month. Shareholders filed a class-action suit against Musk last Wednesday, arguing that Musk violated California corporate laws, including those regarding market manipulation.
Since Musk’s initial bid on the company went public, Twitter stocks have fallen 12%, while Tesla’s stocks have fared even worse, dipping 40%. And Twitter agreed to pay $150 million after the Federal Trade Commission and Department of Justice found that Twitter violated an agreement in 2011 to not use personal security information such as users’ phone numbers for data insights. It was found that Twitter instead used this information to their advantage, using the security information as a tool to better target users with ads. 
—To bolster its editorial offering as it continues to expand in media, Shutterstock acquired Splash news. Splash is a source of content for live events and award shows and is described by Jamie Elden, chief revenue officer, as “premium celebrity and entertainment content.” This follows Shutterstock acquiring Pond5, the world’s largest video content marketplace, for $210 million in May. With these recent acquisitions, Shutterstock aims to continue building its Editorial Newsroom offerings with exclusive content. In addition, Splash’s archive of over 27 million images will join Shutterstock’s existing 60 million. 
—Two key players in consumer insight completed deals this week. First, MoEngage, a customer engagement platform led by AI insights, has raised $77 million in Series E funding backed in part by Goldman Sachs. MoEngage is a listening tool that can track consumer engagement across platforms. This is the third round of multimillion-dollar financing the company has received in the last 12 months. Another player in the ever-growing listening tool game, AnswerThePublic, was acquired by NP Digital, a performance marketing company. AnswerThePublic is a search engine listening tool that uses autocomplete to track searches for keywords and listens to 3 billion searches daily, including Alphabet’s Google.

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