WSJ: Tastemade Orders Up $35 Million Funding Round, Aims to Cash In on Data

As the Wall Street Journal examines the latest news from Tastemade, Mindshare NA’s Whitney Smith weighs in on the digital food space overall.

Excerpt: The spread of shareable recipe videos from a variety of digital publishers has challenged food advertisers to find new ways to market their products, said Whitney Smith, the director of digital investment at Mindshare North America.

“Product placement, integrations, and storytelling are where we are headed, and we’re challenging publishers to bring forth these types of ideas,” Ms. Smith said.

Many digital publishers are struggling to grow their businesses in a digital advertising marketplace dominated by Alphabet Inc.’s Google and Facebook Inc. But Tastemade has grown its sponsored-content business by 50% in 2018 compared with the previous year, said Mr. Fitzgibbon, but declined to disclose actual revenue. The company has also sought new revenue streams, selling kitchen utensils in its online shop and holding live outdoor food events, though advertising remains Tastemade’s biggest source of income.

To learn more, read the full piece in the Wall Street Journal.