BizFeed: How Campbell’s Benefits From Target’s Fresh Food Plan
1. How the New Campbell Soup Co. Benefits from Target’s Fresh Food Plan
The News: Target is catching the fresh food wave. The retail giant announced that it’s pushing basic food staples like cereal and canned soup to the back of the shelves and displaying fresher options much more prominently.
Why it Matters: Sure, Campbell Soup Co. will certainly not be happy to see its canned soup relegated to the back of the shelves, but the Camden N.J.-based food company has been moving into the organic world for quite some time. The Wall Street Journal argues that Target’s new plan is a good thing for Campbell’s:
Target’s focus on baby products and fresh food matches well with new Campbell acquisitions like Plum Organics baby food and Bolthouse Farms, which sells carrot sticks and fresh juices.
2. Video Production Startup Appears Dead, Allegedly Owes Money to Contributors
The News: Technically Philly is reporting that Poptent, which became Vizy in January after a merger, may be on its way out. The video production company with offices in Philadelphia and California allegedly owes money to numerous contributors and contest winners (some as much as $14,000). Here’s more on the company’s recent history:
Earlier this year, the eight-year-old venture-backed startup merged with U.K.-based Userfarm to create a new company called Vizy. The merger came after a round of layoffs at Poptent, which Vizy CEO Nick Pahade said was “partly driven by redundancy due to the merger and the new offering, but also to be fiscally responsible to the business and our shareholders.”
Why it Matters: Sure, Philadelphia’s startup scene is booming, but it’s important to remember that it’s easier to get good news about local startups than bad news.
3. Highlights From Carl Ichan’s Open Letter to Apple
The News: Billionaire Carl Ichan not only thinks Apple‘s stock is worth $240 per share, he claims the tech giant will come out with a TV by 2016 and an electric car by 2020. It was all in an open-letter he wrote to Apple this week. Here are his thoughts on Apple entering new product areas:
Apple has clearly demonstrated a track record of excellence and success when entering new categories. We expect this to continue with the Apple Watch, the television, and the car, and the world will look back on today’s undervaluation as a fascinating example of market inefficiency (and likewise on our valuation at 18x earnings per share as conservative).
Why it Matters: People like Ichan don’t just talk to hear themselves speak. He knows that people will read and react to his letter — especially the innovators at Apple. Whether it compels the company to create a car division is anybody’s guess.