Latest / Omni Talk Retail / Instacart Goes Global With InstaLeap Acquisition | Fast Five Shorts

Transcript

Instacart Goes Global With InstaLeap Acquisition | Fast Five Shorts · Omni Talk Retail

• 0:00
  Instacart
• 0:00
  has
• 0:01
  announced
• 0:01
  the
• 0:01
  acquisition
• 0:02
  of
• 0:02
  instalap,
• 0:04
  a
• 0:04
  Colombia
• 0:04
  based
• 0:05
  global
• 0:05
  fulfillment
• 0:05
  and
• 0:06
  Enable
• 0:06
  it
• 0:06
  platform
• 0:07
  that
• 0:07
  serves
• 0:07
  nearly
• 0:07
  100
• 0:08
  grocery
• 0:08
  retailers
• 0:09
  and
• 0:09
  marketplaces
• 0:09
  across
• 0:10
  13
• 0:10
  countries
• 0:10
  in
• 0:11
  Latin
• 0:11
  America,
• 0:12
  Europe
• 0:12
  and
• 0:12
  the
• 0:12
  Middle
• 0:12
  East.
• 0:13
  According
• 0:13
  to
• 0:13
  GroceryDive,
• 0:14
  the
• 0:14
  deal
• 0:15
  gives
• 0:15
  Instacart
• 0:15
  an
• 0:15
  immediate
• 0:16
  foothold
• 0:16
  with
• 0:16
  established
• 0:17
  retailer
• 0:17
  relationships
• 0:18
  outside
• 0:19
  North
• 0:19
  America,
• 0:20
  including
• 0:20
  Senko
• 0:21
  Sud.
• 0:21
  I
• 0:21
  hope
• 0:21
  I'm
• 0:22
  saying
• 0:22
  that
• 0:22
  correctly.
• 0:22
  Ben
• 0:22
  in
• 0:23
  Latin
• 0:23
  America,
• 0:24
  Continente
• 0:24
  in
• 0:25
  Portugal,
• 0:25
  my.
• 0:26
  My
• 0:26
  favorite
• 0:26
  Portuguese
• 0:27
  retailer.
• 0:28
  And
• 0:28
  Geronimo,
• 0:29
  Martins,
• 0:29
  Lulu
• 0:30
  and
• 0:30
  Spar.
• 0:31
  Instacart's
• 0:31
  Chief
• 0:31
  Commercial
• 0:32
  Officer,
• 0:32
  Ryan
• 0:32
  Hamburger
• 0:33
  said
• 0:33
  the
• 0:33
  company
• 0:34
  has
• 0:34
  already
• 0:34
  seen
• 0:34
  growing
• 0:35
  global
• 0:35
  demand
• 0:36
  for
• 0:36
  its
• 0:36
  enterprise
• 0:37
  products,
• 0:37
  including
• 0:38
  Storefront
• 0:38
  Pro
• 0:38
  and
• 0:39
  Kaper
• 0:39
  carts,
• 0:39
  with
• 0:39
  early
• 0:40
  traction
• 0:40
  for
• 0:40
  K
• 0:40
  Per
• 0:41
  in
• 0:41
  Europe
• 0:41
  and
• 0:42
  Australia.
• 0:42
  And
• 0:42
  its
• 0:42
  first
• 0:43
  Storefront
• 0:43
  Pro
• 0:44
  launches
• 0:45
  outside
• 0:45
  North
• 0:45
  America
• 0:46
  with
• 0:46
  Costco
• 0:46
  in
• 0:47
  France
• 0:47
  and
• 0:47
  Spain,
• 0:47
  which
• 0:47
  I
• 0:48
  believe
• 0:48
  we
• 0:48
  covered
• 0:48
  on
• 0:48
  this
• 0:48
  show.
• 0:49
  Over
• 0:49
  time,
• 0:50
  Instacart
• 0:50
  plans
• 0:51
  to
• 0:51
  bring
• 0:51
  its
• 0:51
  broader
• 0:52
  suite
• 0:52
  of
• 0:52
  enterprise
• 0:52
  technologies,
• 0:53
  including
• 0:53
  carrot
• 0:54
  ads,
• 0:54
  connected
• 0:54
  stores
• 0:55
  and
• 0:55
  AI
• 0:55
  and
• 0:56
  data
• 0:56
  solutions
• 0:57
  to
• 0:57
  instalap's
• 0:57
  international
• 0:58
  retail
• 0:58
  partners.
• 0:59
  Ben,
• 1:00
  buy
• 1:00
  or
• 1:00
  sell
• 1:01
  Instacart's
• 1:01
  acquisition
• 1:02
  of
• 1:02
  Instalap
• 1:03
  as
• 1:03
  a
• 1:03
  smart
• 1:03
  step
• 1:04
  forward
• 1:05
  for
• 1:05
  Instacart?
• 1:06
  Yeah,
• 1:06
  I'm
• 1:07
  buying.
• 1:07
  Okay,
• 1:07
  so
• 1:08
  let
• 1:08
  me
• 1:09
  take
• 1:09
  through.
• 1:09
  Okay.
• 1:09
  I
• 1:10
  think
• 1:10
  it's
• 1:10
  a
• 1:10
  really
• 1:10
  interesting
• 1:11
  story
• 1:11
  and
• 1:12
  part
• 1:12
  of
• 1:12
  the
• 1:12
  interest
• 1:12
  in
• 1:13
  the
• 1:13
  story
• 1:13
  is
• 1:14
  when
• 1:14
  you
• 1:14
  view
• 1:15
  how
• 1:15
  quick
• 1:16
  commerce,
• 1:17
  delivery,
• 1:19
  connections
• 1:19
  and
• 1:20
  profitability
• 1:20
  is
• 1:21
  playing
• 1:21
  out
• 1:21
  in
• 1:21
  the
• 1:21
  grocery
• 1:21
  space.
• 1:22
  So
• 1:23
  one
• 1:23
  thing
• 1:23
  that
• 1:23
  we
• 1:24
  know
• 1:24
  is
• 1:24
  that
• 1:25
  no
• 1:25
  matter
• 1:25
  what
• 1:26
  your
• 1:26
  fulfillment
• 1:26
  route
• 1:27
  is,
• 1:28
  ensuring
• 1:28
  that
• 1:29
  your
• 1:29
  in
• 1:29
  store
• 1:29
  operations
• 1:30
  are
• 1:30
  efficient
• 1:31
  as
• 1:31
  possible
• 1:31
  is
• 1:32
  absolutely
• 1:32
  critical
• 1:33
  for
• 1:33
  grocery
• 1:33
  retailers.
• 1:34
  Okay.
• 1:35
  So
• 1:35
  therefore,
• 1:36
  seeing
• 1:36
  Instacart
• 1:37
  continue
• 1:37
  to
• 1:37
  develop
• 1:38
  and
• 1:38
  invest
• 1:39
  in
• 1:39
  that
• 1:39
  part
• 1:39
  of
• 1:40
  its
• 1:40
  proposition,
• 1:41
  I
• 1:41
  think
• 1:42
  is
• 1:42
  huge.
• 1:43
  Now,
• 1:44
  if
• 1:44
  you
• 1:45
  take
• 1:45
  this
• 1:47
  acquisition
• 1:48
  in
• 1:48
  isolation.
• 1:49
  Okay.
• 1:50
  Yeah.
• 1:51
  It's
• 1:51
  always
• 1:52
  really
• 1:52
  hard
• 1:52
  to
• 1:52
  judge
• 1:54
  an
• 1:54
  acquisition
• 1:55
  without
• 1:55
  knowing
• 1:55
  how
• 1:55
  much
• 1:56
  you
• 1:56
  paid
• 1:56
  for
• 1:56
  it.
• 1:56
  Right.
• 1:57
  That's
• 1:57
  a
• 1:57
  good
• 1:57
  point.
• 1:58
  Fair
• 1:58
  point.
• 1:59
  Yeah.
• 2:00
  The
• 2:00
  financial
• 2:00
  terms
• 2:01
  for
• 2:01
  this
• 2:01
  haven't
• 2:01
  been
• 2:01
  disclosed.
• 2:02
  So
• 2:03
  I'm
• 2:04
  going
• 2:04
  to
• 2:04
  talk
• 2:04
  about
• 2:04
  directly,
• 2:05
  strategically
• 2:05
  and
• 2:05
  directionally
• 2:06
  with
• 2:06
  that
• 2:06
  kind
• 2:07
  of
• 2:07
  quite
• 2:07
  big
• 2:07
  caveat.
• 2:07
  Right,
• 2:08
  right,
• 2:08
  right.
• 2:08
  Instacart
• 2:09
  has
• 2:09
  been
• 2:09
  building
• 2:09
  momentum
• 2:11
  and
• 2:11
  I
• 2:12
  think
• 2:12
  one
• 2:12
  of
• 2:12
  the
• 2:12
  things
• 2:13
  that
• 2:13
  we
• 2:14
  should
• 2:14
  absolutely
• 2:15
  think
• 2:15
  about,
• 2:16
  I
• 2:16
  hope
• 2:16
  everybody's
• 2:16
  taken
• 2:16
  enough
• 2:17
  notice
• 2:17
  of,
• 2:18
  is
• 2:18
  the
• 2:18
  fact
• 2:19
  that
• 2:19
  Aldi
• 2:19
  US
• 2:20
  Went
• 2:20
  with
• 2:21
  Storefront
• 2:22
  Pro.
• 2:22
  Yeah,
• 2:22
  we
• 2:22
  talked
• 2:23
  about
• 2:23
  that
• 2:23
  too.
• 2:24
  That's
• 2:24
  huge.
• 2:25
  It's
• 2:25
  a
• 2:25
  huge
• 2:25
  signal
• 2:26
  that
• 2:26
  Aldi
• 2:26
  are
• 2:27
  moving
• 2:27
  the
• 2:27
  entire
• 2:27
  operating
• 2:28
  model
• 2:28
  for
• 2:28
  their
• 2:28
  E
• 2:28
  Comm
• 2:29
  to
• 2:29
  Instacart.
• 2:30
  And
• 2:30
  you
• 2:30
  already
• 2:30
  mentioned
• 2:30
  Costco
• 2:31
  in
• 2:31
  Europe.
• 2:31
  So
• 2:32
  I
• 2:33
  see
• 2:33
  this
• 2:33
  as
• 2:33
  the
• 2:33
  next
• 2:34
  step
• 2:34
  in
• 2:34
  that
• 2:35
  journey.
• 2:36
  So
• 2:37
  then
• 2:38
  it
• 2:38
  comes
• 2:38
  to
• 2:38
  what
• 2:39
  is
• 2:39
  Instacart
• 2:39
  buying
• 2:40
  for
• 2:40
  how
• 2:40
  much
• 2:40
  we
• 2:40
  don't
• 2:41
  know.
• 2:41
  Okay,
• 2:41
  so
• 2:43
  it's
• 2:43
  buying
• 2:43
  scale
• 2:44
  and
• 2:45
  crucially
• 2:45
  is
• 2:45
  buying
• 2:46
  relationships.
• 2:46
  Grocery
• 2:47
  relationships
• 2:48
  are
• 2:48
  really
• 2:48
  hard,
• 2:48
  hard
• 2:49
  fought,
• 2:49
  hard
• 2:50
  build.
• 2:50
  Here's
• 2:50
  a
• 2:51
  hundred
• 2:51
  retailers,
• 2:52
  30
• 2:52
  countries
• 2:53
  outside
• 2:53
  the
• 2:53
  US
• 2:54
  strength
• 2:55
  in
• 2:55
  LATAM,
• 2:55
  strength
• 2:56
  in
• 2:56
  the
• 2:56
  Middle
• 2:56
  East.
• 2:58
  That's
• 2:58
  a
• 2:58
  really,
• 2:58
  really
• 2:58
  big
• 2:59
  step
• 2:59
  forward.
• 2:59
  So
• 3:00
  that's
• 3:00
  a
• 3:00
  big
• 3:00
  tick
• 3:01
  for
• 3:01
  me.
• 3:01
  Yeah.
• 3:02
  Hard
• 3:02
  to
• 3:02
  dislodge
• 3:03
  too.
• 3:03
  Grocery
• 3:04
  relationships
• 3:04
  are
• 3:04
  hard
• 3:04
  to
• 3:04
  dislodge,
• 3:05
  especially
• 3:05
  in
• 3:05
  this
• 3:06
  front
• 3:06
  when.
• 3:06
  Who's
• 3:06
  running
• 3:07
  your
• 3:07
  website?
• 3:07
  You.
• 3:08
  Well,
• 3:09
  not
• 3:09
  only
• 3:09
  the
• 3:09
  website,
• 3:09
  the
• 3:09
  full
• 3:10
  fulfillment
• 3:10
  and
• 3:11
  the
• 3:11
  store
• 3:11
  solutions
• 3:12
  to
• 3:12
  enable
• 3:12
  it.
• 3:13
  You
• 3:13
  mentioned
• 3:13
  upsell.
• 3:14
  Of
• 3:14
  course
• 3:15
  there's
• 3:15
  upsell.
• 3:15
  Retail
• 3:16
  media
• 3:16
  paycheck.
• 3:16
  We
• 3:16
  can
• 3:16
  come
• 3:16
  back
• 3:17
  to
• 3:17
  that
• 3:17
  one.
• 3:19
  The
• 3:19
  bit
• 3:19
  that
• 3:19
  really
• 3:19
  intrigued
• 3:20
  me
• 3:20
  was,
• 3:21
  okay,
• 3:22
  you're
• 3:22
  buying,
• 3:23
  you're
• 3:23
  fast
• 3:24
  tracking
• 3:24
  your
• 3:24
  international
• 3:25
  book
• 3:25
  of
• 3:25
  business.
• 3:26
  Great.
• 3:27
  But
• 3:27
  what
• 3:27
  about
• 3:27
  the
• 3:28
  tech?
• 3:28
  Is
• 3:29
  there
• 3:29
  something
• 3:29
  new
• 3:29
  coming
• 3:30
  into
• 3:30
  Instacart
• 3:31
  that
• 3:31
  they're
• 3:31
  buying
• 3:31
  from
• 3:31
  the
• 3:31
  tech
• 3:31
  as
• 3:32
  well?
• 3:32
  And
• 3:32
  I
• 3:32
  know
• 3:32
  Insta
• 3:33
  Leap
• 3:33
  is
• 3:34
  highly
• 3:34
  considered,
• 3:35
  so
• 3:36
  look,
• 3:37
  that's
• 3:37
  interesting.
• 3:38
  I
• 3:38
  knew
• 3:38
  we
• 3:38
  were
• 3:38
  going
• 3:38
  to
• 3:38
  talk.
• 3:38
  You
• 3:39
  told
• 3:39
  me
• 3:39
  we
• 3:39
  were
• 3:39
  going
• 3:39
  to
• 3:39
  talk
• 3:39
  about
• 3:39
  this
• 3:40
  one.
• 3:40
  So
• 3:40
  I
• 3:40
  asked
• 3:40
  the
• 3:40
  Instacart
• 3:41
  team
• 3:41
  outright,
• 3:42
  did
• 3:42
  you?
• 3:42
  I
• 3:43
  did,
• 3:43
  I
• 3:43
  did.
• 3:43
  Nice.
• 3:45
  And
• 3:45
  they
• 3:45
  said,
• 3:45
  look,
• 3:46
  they
• 3:46
  are
• 3:47
  excited
• 3:48
  about
• 3:49
  the
• 3:49
  fulfillment
• 3:50
  elements
• 3:50
  that
• 3:51
  instalap
• 3:52
  have
• 3:52
  developed.
• 3:53
  So
• 3:53
  order,
• 3:54
  managing,
• 3:54
  picking,
• 3:55
  routing,
• 3:56
  these
• 3:56
  things.
• 3:56
  Are
• 3:57
  built
• 3:57
  really
• 3:57
  more
• 3:57
  that
• 3:57
  side.
• 3:58
  So
• 3:58
  that
• 3:58
  is
• 4:00
  two
• 4:00
  elements
• 4:01
  to
• 4:01
  it.
• 4:02
  I
• 4:02
  think
• 4:02
  the
• 4:02
  right
• 4:02
  term
• 4:03
  is.
• 4:03
  An
• 4:03
  Instacart
• 4:04
  spokesperson
• 4:05
  said,
• 4:07
  and
• 4:07
  I
• 4:07
  think
• 4:07
  the
• 4:07
  quote
• 4:08
  is,
• 4:08
  over
• 4:08
  time,
• 4:08
  we
• 4:09
  expect
• 4:09
  to
• 4:09
  consolidate
• 4:10
  the
• 4:10
  tech
• 4:10
  stacks
• 4:12
  into
• 4:12
  a
• 4:12
  single
• 4:13
  unified
• 4:13
  platform
• 4:14
  that
• 4:14
  brings
• 4:14
  together
• 4:14
  the
• 4:14
  best
• 4:15
  of
• 4:15
  both
• 4:15
  products.
• 4:15
  So
• 4:16
  it
• 4:16
  looks
• 4:16
  like
• 4:16
  you've
• 4:17
  got
• 4:17
  an
• 4:17
  acquisition
• 4:18
  that
• 4:18
  gives
• 4:19
  a
• 4:19
  needed
• 4:19
  shot
• 4:20
  in
• 4:20
  the
• 4:20
  arm
• 4:20
  for
• 4:20
  international
• 4:21
  expansion.
• 4:22
  It's
• 4:22
  aligned
• 4:23
  with
• 4:23
  a
• 4:23
  profitable
• 4:24
  kind
• 4:24
  of
• 4:24
  platform
• 4:25
  strategy
• 4:25
  play
• 4:26
  and
• 4:26
  it
• 4:27
  brings
• 4:27
  in
• 4:27
  tech
• 4:27
  that
• 4:28
  can
• 4:28
  also
• 4:28
  help
• 4:28
  develop
• 4:28
  the
• 4:29
  core
• 4:29
  offer.
• 4:30
  So
• 4:30
  we
• 4:31
  found,
• 4:31
  I
• 4:31
  said,
• 4:31
  paid
• 4:32
  to
• 4:32
  achieve
• 4:32
  all
• 4:32
  that,
• 4:33
  that
• 4:33
  feels
• 4:33
  like
• 4:33
  a
• 4:33
  good
• 4:33
  place
• 4:33
  to
• 4:34
  be,
• 4:34
  right?
• 4:34
  Yeah,
• 4:34
  yeah,
• 4:35
  yeah.
• 4:35
  I
• 4:35
  mean,
• 4:35
  I
• 4:35
  think,
• 4:36
  I
• 4:36
  think,
• 4:36
  you
• 4:36
  know,
• 4:37
  I
• 4:38
  think
• 4:38
  I'm
• 4:38
  gonna
• 4:38
  agree
• 4:38
  with
• 4:38
  you,
• 4:38
  Ben.
• 4:39
  I
• 4:39
  think
• 4:39
  I'm
• 4:39
  gonna
• 4:39
  agree
• 4:39
  with
• 4:40
  you.
• 4:41
  I
• 4:41
  mean,
• 4:42
  you
• 4:42
  know,
• 4:42
  you
• 4:43
  know,
• 4:43
  I
• 4:43
  mean,
• 4:43
  it's
• 4:43
  a
• 4:44
  card.
• 4:44
  Knows
• 4:44
  this
• 4:44
  too.
• 4:44
  Like,
• 4:44
  I
• 4:44
  have
• 4:45
  a.
• 4:45
  I
• 4:45
  love
• 4:45
  Haberly,
• 4:46
  I
• 4:46
  love
• 4:46
  them.
• 4:46
  I
• 4:47
  like
• 4:47
  talking
• 4:47
  to
• 4:47
  them.
• 4:48
  I
• 4:48
  always
• 4:48
  enjoy
• 4:48
  whenever
• 4:49
  I
• 4:49
  get
• 4:49
  the
• 4:49
  chance
• 4:49
  to
• 4:49
  interview
• 4:50
  them.
• 4:50
  But,
• 4:50
  you
• 4:50
  know,
• 4:51
  some,
• 4:51
  some
• 4:51
  of
• 4:51
  the
• 4:51
  things
• 4:52
  I've
• 4:52
  had
• 4:52
  questions
• 4:52
  about,
• 4:53
  you
• 4:53
  know,
• 4:53
  over
• 4:53
  the
• 4:53
  years
• 4:54
  and
• 4:54
  so.
• 4:55
  But
• 4:55
  I
• 4:55
  think
• 4:55
  this
• 4:55
  is
• 4:56
  a
• 4:56
  smart
• 4:56
  move.
• 4:56
  I
• 4:56
  think
• 4:56
  it
• 4:57
  is.
• 4:57
  I
• 4:57
  think
• 4:57
  for
• 4:57
  the
• 4:57
  reasons
• 4:57
  you
• 4:58
  said.
• 4:58
  I
• 4:58
  mean,
• 4:58
  one,
• 4:59
  it's
• 4:59
  growth
• 4:59
  via
• 4:59
  acquisition,
• 5:00
  which
• 5:00
  I
• 5:00
  think
• 5:00
  is
• 5:00
  important
• 5:00
  in
• 5:01
  and
• 5:01
  of
• 5:01
  itself
• 5:01
  because
• 5:02
  as
• 5:02
  you
• 5:02
  know,
• 5:02
  I
• 5:02
  mentioned
• 5:03
  in
• 5:03
  the
• 5:03
  headline
• 5:03
  read
• 5:03
  too,
• 5:03
  it's
• 5:04
  been
• 5:04
  tough
• 5:04
  for
• 5:04
  Instacart
• 5:05
  to
• 5:05
  crack
• 5:05
  this
• 5:05
  market.
• 5:06
  And
• 5:06
  it
• 5:06
  sounds
• 5:06
  like,
• 5:06
  as
• 5:07
  you're
• 5:07
  discussing,
• 5:07
  there's
• 5:08
  probably
• 5:08
  some
• 5:08
  IP
• 5:08
  that
• 5:09
  they're
• 5:09
  grabbing
• 5:09
  here
• 5:10
  in
• 5:10
  terms
• 5:10
  of
• 5:10
  how
• 5:10
  the
• 5:11
  tech
• 5:11
  works.
• 5:11
  And
• 5:11
  there's
• 5:12
  also
• 5:12
  just
• 5:12
  the
• 5:12
  IP
• 5:13
  of
• 5:13
  the
• 5:13
  relationships
• 5:14
  themselves,
• 5:14
  which
• 5:15
  I
• 5:15
  don't
• 5:15
  think.
• 5:15
  Which
• 5:15
  is
• 5:15
  a
• 5:15
  great
• 5:16
  point
• 5:16
  because
• 5:16
  I
• 5:16
  don't
• 5:16
  think
• 5:16
  you
• 5:16
  can
• 5:17
  discount
• 5:17
  that
• 5:18
  at
• 5:18
  all.
• 5:18
  And
• 5:19
  then
• 5:19
  the
• 5:19
  other
• 5:19
  point
• 5:19
  too,
• 5:19
  which
• 5:19
  I
• 5:20
  was
• 5:20
  actually
• 5:20
  surprised
• 5:20
  you
• 5:20
  mentioned
• 5:21
  it,
• 5:21
  but
• 5:21
  you
• 5:21
  only
• 5:21
  mentioned
• 5:22
  it
• 5:22
  briefly,
• 5:22
  was,
• 5:22
  was
• 5:23
  retail
• 5:23
  media.
• 5:23
  That's
• 5:24
  what
• 5:24
  scales.
• 5:25
  So
• 5:25
  as
• 5:25
  you
• 5:25
  conglomerate
• 5:26
  all
• 5:26
  these
• 5:27
  platforms
• 5:27
  together,
• 5:27
  from
• 5:28
  a
• 5:28
  software
• 5:28
  standpoint,
• 5:29
  the
• 5:29
  retail
• 5:30
  media
• 5:30
  is
• 5:30
  the
• 5:30
  engine
• 5:31
  that
• 5:31
  drives
• 5:31
  the
• 5:31
  profitability
• 5:32
  of
• 5:32
  Instacart
• 5:33
  in
• 5:33
  the
• 5:33
  long
• 5:34
  run.
• 5:34
  So
• 5:34
  you're
• 5:35
  going
• 5:35
  to
• 5:35
  get
• 5:35
  more
• 5:35
  scale
• 5:36
  in
• 5:36
  that
• 5:36
  because
• 5:36
  the
• 5:36
  brands
• 5:37
  now
• 5:37
  can
• 5:37
  position
• 5:38
  their
• 5:38
  retail
• 5:38
  media
• 5:39
  across
• 5:39
  more
• 5:40
  options
• 5:40
  globally
• 5:41
  too,
• 5:41
  which
• 5:41
  I
• 5:41
  think
• 5:42
  has
• 5:42
  to
• 5:42
  be
• 5:43
  a
• 5:43
  part
• 5:43
  of
• 5:43
  this.
• 5:44
  Right,
• 5:44
  Ben?
• 5:44
  I
• 5:44
  mean,
• 5:44
  you
• 5:44
  know
• 5:44
  that
• 5:45
  better
• 5:45
  than
• 5:45
  I
• 5:45
  do.
• 5:45
  Yeah,
• 5:46
  I
• 5:46
  completely
• 5:46
  agree.
• 5:47
  The
• 5:47
  potential
• 5:48
  to
• 5:48
  scale,
• 5:48
  particularly
• 5:49
  carrot
• 5:49
  ads,
• 5:51
  that
• 5:51
  media
• 5:51
  play
• 5:51
  is
• 5:52
  huge.
• 5:52
  And
• 5:52
  I
• 5:52
  think
• 5:52
  I
• 5:53
  would
• 5:53
  just.
• 5:53
  Look,
• 5:53
  just
• 5:54
  one
• 5:54
  more
• 5:54
  point
• 5:55
  to
• 5:56
  help
• 5:56
  you
• 5:56
  with
• 5:56
  that
• 5:57
  final.
• 5:58
  Make
• 5:58
  the
• 5:58
  final
• 5:58
  decision.
• 6:00
  You
• 6:00
  mentioned
• 6:00
  Ryan
• 6:00
  Hamburger,
• 6:01
  Chief
• 6:01
  Commercial
• 6:02
  Officer
• 6:02
  in
• 6:03
  the
• 6:03
  intro.
• 6:04
  He's
• 6:04
  actually
• 6:04
  one
• 6:04
  of
• 6:04
  our
• 6:04
  speakers.
• 6:05
  Oh,
• 6:05
  yeah.
• 6:05
  At
• 6:05
  Shop
• 6:06
  Talk
• 6:06
  Europe.
• 6:07
  So
• 6:07
  he'll
• 6:07
  be
• 6:07
  on
• 6:08
  stage
• 6:08
  on
• 6:08
  the
• 6:08
  Wednesday.
• 6:08
  Maybe
• 6:09
  you
• 6:09
  should
• 6:09
  grab
• 6:09
  him,
• 6:10
  get
• 6:10
  an
• 6:10
  interview,
• 6:11
  ask
• 6:11
  him
• 6:11
  a
• 6:11
  question.
• 6:12
  Everybody
• 6:13
  can
• 6:13
  come
• 6:13
  and
• 6:13
  hear
• 6:14
  directly
• 6:14
  from
• 6:14
  Ryan
• 6:14
  on
• 6:14
  this.
• 6:16
  Love
• 6:16
  to
• 6:16
  do
• 6:16
  that,
• 6:16
  love
• 6:16
  to
• 6:16
  do
• 6:17
  that.