That one appeared way back in 2015, and for some reason "caveman" commercials have been popular ever since. Perhaps they appeal to the primitive man in all of us. Or maybe they just tickle the funny-bone. Larry David has done some excellent work in this genre, but our latest Wally Award for Creativity in Television Advertising goes to the creators of "Early Adopters", a spot for Wealthsimple Crypto.
For those who haven't heard of it, Wealthsimple Technologies Inc. is an online financial services company that has seen a surge in new retail clients throughout the Plannedemic with its zero-fee trading platform. In this spot they're trying to talk us into investing in crypto currencies like Bitcoin. The appeal is to old fogies like Walt, who refuse to get in on the Latest New Thing.
Seems that clever advertising doesn't always help companies that market something that people are skeptical about. This week, Wealthsimple's largest shareholder devalued the stock by 20% as the broad-based sell-off of publicly traded technology stocks spreads to private markets.
IGM Financial, a subsidiary of Power Corp. of Canada, revealed in its latest financial statements released Thursday that it had marked down its valuation for Wealthsimple to $925 million as of March 31st, from $1153 billion at the end of 2021.
"This is not a reflection of the business model, its prospects or the management at Wealthsimple," said IGM CEO James O’Sullivan. "We are extremely proud of Wealthsimple as their largest shareholder but from a distance, you only have to look at the publicly-traded fintech companies to see that valuations have reset and so this reflects our judgment as to what an appropriate value is."
Maybe so, but if I played the markets, I'd be investing not in Wealthsimple, but in the advertising agency that created this Wally award-winning commercial.
No comments:
Post a Comment