FastPay, a new tech-enabled finance platform servicing ad-tech businesses, launched today with $25 million already funded to dozens of digital media businesses. FastPay "empowers early and mid-stage companies in this $29B industry to fund their growth in an efficient, cost effective and equity-preserving manner. "
And that's not all. It's about getting paid faster once your business is up and running.
eMarketer estimates the size of the digital ecosystem will grow to $100B by 2015 and the IAB says nearly 80 percent of invoices now take from 60 to 90 days or more to pay. We can personally attest to this and it's not fun so we're a big supporter of any entity that claims it can get us out money faster and more efficiently.
The best thing about this Anatomy of An Ad Agency infographic which takes a look at agency life is the daily timesheet section which is broken down by functional area. For example, account execs spend most of their time " managing expectations" and "looping in" while art directors are busy "tweaking," "bumping that up a bit" and moving things "a bit to the left." Copywriters ideate while reading The Onion and wishing they wrote for The Onion while developers spend their time "larping" (no idea), coding and working on their own, non-billable coding projects.
The second best thing about this infographic are the pick up lines used. AEs want to get real so their favorite is, "I spend all day metaphorically screwing people. let's do the real thing." Art Directors? "I can fill your shite space." Funny. Copywriters are high on themselves to they boldly proclaim, "My brochure copy isn't the only thing that's long." But it's developers who are the most twisted leading off with, "Can I debug your backend?" Ew. Gross.
Thanks for the laugh, Grip Limited.