*By Conor White*
Giphy, the internet's largest search engine for gifs, is turning its attention to advertising ー and it has a simple strategy.
"We need to make ads that don't suck," said Adam Leibsohn, the company's COO. "We always say, you should entertain, not advertise."
Giphy has worked on six- and seven-figure deals with major brands like [Absolut Vodka](https://giphy.com/absolutvodka) and [Dunkin' Donuts](https://giphy.com/dunkindonuts), as well as a campaign for the film ["Sorry to Bother You"](https://giphy.com/sorry2botheryou). Leibsohn said Monday in an interview on Cheddar the advertising angle is a natural approach for Giphy.
"Paid search is our revenue model," he said. "So, you can basically place content in relevant searches, so that your content comes back as the first result, and then people use it a lot more."
With 300 million daily active users who serve up 5 billion gifs, Leibsohn said, the platform is looking to turn a profit for the first time in its five-year history.
"People really love to use \[gifs\], in messaging, in communication, in social," Leibsohn said. "What we've been starting to do is work with brands to help them get involved in those conversations."
Though the company isn't openly discussing its revenue goals, Leibsohn said he expects significant growth, thanks to the new partnerships ー and he doesn't expect the public to get sick of the medium any time soon.
"It's not really fatigue because every day a different piece of culture, a different piece of content is what's driving the conversation, so as long as culture remains moving, gifs remain popular."
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjE5OTQ=).
Soildus Labs, a market compliance and surveillance technology provider for crypto firms, has spearheaded the launch of the Crypto Market Integrity Coalition, a pledge committing to a safe and sensibly-regulated crypto industry. Kathy Kraninger, VP of Regulatory Affairs at Solidus Labs, discusses on Cheddar News' Closing Bell the biggest problems in the digital asset space that this new initiative plans to solve.
The global chip shortage continues to weigh on the automotive industry. For example, Ford says it is suspending or cutting production at eight of its factories in North America through next week due to the shortage. Balu Balakrishnan, President and CEO of Power Integrations, joins Cheddar News' Closing Bell, where he elaborates on why the chip shortage has dragged into 2022.
Peloton has weathered a seemingly never-ending storm the past few months: PR blunders, sinking customer demand, and in recent weeks, reported cost-cutting and potential layoffs. Now, several companies are said to be in the mix as potential buyers: Amazon, Netflix, Disney, and Apple. How likely is it that one of these companies pursues a deal — and how likely is it that it will be Apple who buys Peloton? Dan Ives, Managing Director of Equity Research at Wedbush Securities, joins Closing Bell to discuss his thoughts about Apple pursuing a Peloton takeover,
Astra aborted the launch for NASA ELaNa 41 Mission out of Cape Canaveral on Monday due to what was described as a minor issue, but the company's stock fell nearly 14 percent following the news. Jim Cantrell, CEO and co-founder of Phantom Space, which builds and launches spacecraft of its own, joined Cheddar to discuss the scrubbed mission. “The last thing you want is for this to go wrong, you're better to err on the side of safety expectations,” Cantrell explained, noting that the mission delay was a normal event.
The Biden Administration is set to revise federal rules to address potential security risks from foreign-owned apps, mainly Tiktok. This comes after the White House opted not to pursue a forced shutdown of the Chinese-owned video sharing platform. Under these new rules, federal oversight would be expanded to explicitly include apps that could be used by foreign adversaries to steal or otherwise obtain data. Senior Fellow at the Foundation for Defense of Democracies, Craig Singleton, joined Cheddar to discuss more.
The metaverse platform Decentraland hosted its first wedding over the weekend. The union was overseen by Rose Law Group, at the firm's virtual property, hosting witnesses including 2,000 guests. The ceremony endured some technical glitches before being completed.
The gaming industry has been under the spotlight so far this year following some big mergers and acquisitions. This week featured earnings of three major gaming companies, but also Meta and for the latter, things are not doing too hot. Joining Cheddar News to break it all down was Kenny Rosenblatt, President and Co-Founder of Arkadium.