Silicon Beach Report March 14: Rubicon Project CEO Steps Down Following Rough YearTuesday, March 14, 2017
Rubicon Project chief executive steps down following rough year, Softbank invests in artificial intelligence startup Oben, and Vice Media to produce original Snapchat shows.
Rubicon Project Founder Frank Addante has stepped down from his role as chief executive following an exodus of senior executives at the company over the last month and lowered revenue forecast in the company’s fourth quarter filing released after the market closed on Tuesday, reports the Business Journal. The Playa Vista company’s stock fell more than 22 percent in afterhours trading to $6.51 a share.
South Korea’s Softbank invested an undisclosed amount in artificial intelligence startup Oben, according to a press release. Oben’s artificially intelligent software creates avatars for users using a selfie, short voice recording, as well as observations of users’ mannerisms and basic daily behaviors.
Snap Inc. and Vice Media have struck a deal under which Vice will produce exclusive shows for Snapchat, reports Variety. The first show under deal is “Hungry Hearts with Action Bronson,” a dating series hosted by rapper-chef Action Bronson.