The Week That Was: IT and Media news week 15
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Search advertising, forecast to be worth $350.4bn in 2023, is set for unprecedented disruption from retail media, social media and AI, according to a forecast from WARC Media. “Retail media – encompassing Amazon, Walmart, Alibaba and others – is set to draw over a quarter ($93.8bn) of all search advertising spend this year. The search market is on the cusp of an era of innovation. Google’s long-standing market dominance is set to come under unprecedented pressure.”
Female-only founded startups only receive a fraction of overall VC (Venture Capital) investment but their percentage is going up. Female founders account for a larger share of overall European venture capital invested this year despite their share of deals remaining flat, according to financial data and software company PitchBook..
E-waste is one of the fastest growing waste streams in the European Union and less than 40% is recycled. The best recycler is Croatia with 81.3% and the worst is Malta with 20.8%. The other four countries in the top 5 are Estonia 69.8%, Bulgaria 68.8%, Hungary 51.1% and Austria with 50.1% of the e-waste recycled, a summary from the European Parliament shows.
TikTok eclipsed Twitter, Pinterest, and Snapchat in US users within just a few years, and now it’s chasing Instagram, according to estimates by US-based market research firm Insider Intelligence. “After years of exceptional growth, TikTok will boast more than 100 million US monthly users in 2023—unless lawmakers stand in its way”, the company says.
Oversupply and continued low demand for PCs due to economic uncertainties and a lack of purchase motivation led to the second consecutive quarter of historic year-over-year decline in PC sales,
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