In today's ExchangeWire news digest: Getir look to acquire Flink; Vice Media reportedly prepare to file bankruptcy; and ad spend on Amazon Prime grows.
Getir in talks to acquire Flink
Rapid delivery service Getir is reportedly in talks to acquire Flink. The reported deal comes nearly five months after the Istanbul-based company purchased its Berlin-based rival Gorilla’s for USD $1.2bn (~£962.5m).
Flink, which is also based in Berlin, has seen its valuation decline from USD $2.1bn (~£1.7bn) in 2021 to just over USD $1bn (~£802.1m). It is one of the few remaining independent quick commerce companies in operation, with several going bust or being acquired due to shrinking consumer and investor interest.
Vice Media on road to bankruptcy
Vice Media Group is reportedly preparing to file for bankruptcy following a swathe of job cuts and the closure of Vice News Tonight.
According to a New York Times report, five companies have expressed interest in purchasing the media firm, and it could bank on a sale to avoid going bust.
Amazon Prime ad spend rises despite wider fall
Ad spend on Amazon Prime has increased by 72% to USD $285m (~£228.6m) over the last year, according to analysis by iSpot.tv. The rise contrasts with the wider video streaming industry, where ad spending declined 21% over the period.
Reports attribute Prime’s growth to the video platform’s deal to exclusively broadcast the US National Football League’s (NFL) Thursday Night Football from Q4 2022.
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Fact of the Day
USD $9.07bn (~£7.3bn) – the revenue expected to be generated by the European quick commerce market by 2027.
Last week's tech teasers
Inspired by the CMA’s decision to obstruct Microsoft’s purchase of Activision Blizzard, last week’s quiz was all about failed takeovers and mergers – find out how well you did below!
- AOL’s purchase of Time Warner – was dubbed by the press as "the worst merger in history" 🤯
- CBS & Viacom – merged for a second time in 2019 despite splitting up in 2005 🔁
- USD $95m – the amount Terra Networks sold Lycos for, four years after buying it for USD $12.5bn 💰
- Autonomy – the company HP planned to acquire until it was revealed to have engaged in fraud 🤥
- Alcatel-Lucent – the high-profile acquisition which collapsed partly due to a language barrier 💬
Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.