A top Israel ad exec explains why he sold his agency to Wix — and why holding companies will die if they can't get closer to their customers
This story requires our BI Prime membership. To read the full article,Eran Gefen co-founded and ran Y&R Interactive, the biggest Israeli division of ad holding company WPP, then left to start his own agency in 2009.
"Both changes, from Y&R and then to in-house, mirrored changes in the market," Gefen told Business Insider.Gefen said the traditional agency model, which relies heavily on commissions from TV ad buys, no longer serves the client or the consumer. Those factors led Gefen to sell to Wix after an extended conversation with Shai about working more closely with the company. Terms of the deal were not disclosed, but Gefen's team of about 20 was integrated into Wix's 300-person marketing department.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. agency considering rule reining in non-compete agreements for workersThe U.S. Federal Trade Commission (FTC), one of two agencies that enforce antitr...
Read more »
Qatar's foreign minister, Iranian counterpart discuss events in region: state news agencyQatar's Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al-Than...
Read more »
US safety agency opens probe into fatal Tesla Model 3 crash in IndianaThe U.S. National Highway Traffic Safety Administration (NHTSA) said on Wednesday it was launching an investigation into the Dec. 29 crash of a Tesla Model 3 that left a passenger dead after the vehicle collided with a parked fire truck in Indiana.
Read more »
A Reversal by Trump Revives Agency That Aids ExportersCongress quietly renewed the U.S. Export-Import Bank’s charter for seven years in December, after President Trump reversed his position on the agency and lobbied a skeptical lawmaker.
Read more »
NFL Exec Believes Tom Brady Will Stay With Patriots Despite Free AgencyIt feels like we're closer than ever to Tom Brady leaving the Patriots. Not only is the veteran quarterback set…
Read more »
Column: Newsom to unveil plan for California consumer financial watchdog agencyAfter years of the Trump administration steadily rolling back federal consumer financial protections, California has decided enough is enough. Columnist Davidlaz on the soon-to-be-unveiled California Consumer Financial Protection Law:
Read more »