*By Michelle Castillo*
Influencer marketing company IZEA Worldwide is expanding into Latin America with the acquisition of FLUVIP.
IZEA ($IZEA) announced on Wednesday it was entering into a non-binding letter of intent to buy all outstanding shares of FLUVIP Ventures, a Latin American-focused influencer marketing company. FLUVIP has more than 100,000 influencers it works with that focus on Latin American and U.S. Hispanic consumers. The terms of the deal were not disclosed, but will consist mostly of stock payments.
“While the LATAM advertising market is smaller that the U.S. market, digital spend is growing at two times the pace,” IZEA CEO Ted Murphy told Cheddar. “Influencer marketing is not as mature in the region and is significantly less fragmented than it is in the U.S. We see a big opportunity for software as most influencer marketing is done by agencies.”
Companies are projected to spend between $5 billion and $10 billion in influencer marketing by 2022, [according to Business Insider Intelligence](https://www.businessinsider.com/the-influencer-marketing-report-2018-1f).
There are about 55 million U.S. Hispanics according to PWC, and they're a potential mobile-first customer . he group [is expected](https://www.pwc.com/us/en/services/consulting/library/consumer-intelligence-series/hispanics.html) to make up one-third of the U.S. population by 2060.
U.S. Hispanics spend almost 10.5 hours per week online using their smartphones, [per eMarketer](https://www.emarketer.com/Report/US-Hispanics-2016-Who-They-Are-What-Theyre-Doing-on-Digital-Ad-Spending-Reach-Them/2001794
). For comparison, the general U.S. population spends 8.4 hours online per week. About half of Hispanic millennials talk about brands with friends online or use a brand hashtag on social media compared to 17 percent of non-Hispanics, according to a survey [completed by Viant](https://www.viantinc.com/news/blog/everything-you-need-to-know-about-hispanic-millennials/).
Walmart is expanding its HIV treatments, planning to add over 80 specialty facilities across nearly a dozen states by the end of the year.
The Internal Revenue Service said there are about $1.5 billion in unclaimed tax refunds dating back to 2019.
General Motors will allow its electric vehicles to use Tesla charging stations across the country.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Modelo Especial is now the top-selling beer in the United States, dethroning Bud Light after 22 years. In May, sales of Modelo Especial hit $333 million. That's up 15.6 percent from the same period last year.
Electric vehicles made by General Motors will be able to use much of Tesla's extensive charging network beginning early next year. In addition, GM will adopt Tesla's connector, the plug that links an electric vehicle to a charging station.
The Supreme Court on Thursday gave whiskey maker Jack Daniel's reason to raise a glass, handing the company a new chance to win a trademark dispute with the makers of the Bad Spaniels dog toy.
Cheddar News checks in to see what to look for on The Day Ahead with Chinese EV-maker Nio due to release its report and Jurassic Park is celebrating the 30th anniversary of its release. Meanwhile, 'Transformers: Rise of the Beasts' debuts on Friday across the country.
Kelly Ann Winget, founder of private equity firm Alternative Wealth Partners and author of 'Pitch the Bitch,' a financial guide for those often left out of the male-dominated investment world, spoke to Cheddar News about her experience as an LGBTQ+ manager in the industry.
With wedding season underway, couples can get overwhelmed with finances and planning. Guests also feel stressed, especially when being invited to several weddings. Ted Rossman, senior industry analyst with Bankrate.com, joined Cheddar News to discuss setting up a budget if attending multiple ceremonies.
