Top Story: Heinz-Kraft Merger
HJ Heinz, owned by Warren Buffet’s Berkshire Hathaway, is to merge with Kraft Foods Groups to form the fifth-largest food and beverage company on earth.
By joining forces, Kraft and Heinz executives expect to save $1.5 billion in annual cost by the end of 2017. The merger is valued at $36 billion, and the new company will have revenue of approximately $28 billion.
“This is my kind of transaction, uniting two world-class organizations and delivering shareholder value,” Warren Buffett said in the statement. “I’m excited by the opportunities for what this new combined organization will achieve.”
Kraft brands like Jell-O, Oscar Mayer, and Kool-Aid will join Heinz Beanz, Ore-Ida potato fries, and Weight Watchers meals to become The Kraft Heinz Company.
Here’s an infographic from Heinz showing some of the biggest brands in the combined portfolio:
Under the Radar: The Pope Visits the White House
The White House announced yesterday that Pope Francis is to meet with President Obama during his trip to the Unites States later this year.
The Pope will visit the White House on September 23, where the two will discuss “caring for the marginalized and the poor; advancing economic opportunity for all; serving as good stewards of the environment; protecting religious minorities and promoting religious freedom around the world; and welcoming and integrating immigrants and refugees into our communities,” according to a statement from White House Press Secretary Josh Earnest.
Tool of the Week: Periscope
Last week, we featured the live-streaming app Meerket that was launched at SXSW and has already gained major popularity and buzz. Twitter responded by launching its own live-streaming app for iOS, Periscope, and then cutting off Meerkat’s access to Twitter’s social graph.
How does it work?
Periscope users sign in with Twitter and find a list of streams that are currently live. Below it, there is a list of recent streams, although not all can be played back. Users have the option to stop their streams from being replayed with a single tap; however, streams save by default, and the result is an app that can be browsed. Replay is Periscopes differentiating feature that just may win the game.
Periscope also allows users to send a heart (or two) to the person recording a stream, with the tap of a finger. The heart appears on the screen for the sender and the audience to see. It is a cute feature that lets the person recording know that what they are doing is appreciated.
“It’s like the crowd going wild — who doesn’t like that?” says Kayvon Beykpour, Periscope’s co-founder. The goal is to make broadcasting less intimidating to the average person.
So far, users have streamed everything from what they had for breakfast to an explosion in NYC.
Around the Hub: Munch Madness
Munch Madness, created in 2010 by the Boston Globe, is a tournament pitting 64 local restaurants against one another. It’s down to the final four with just two rounds left: Island Creek Oyster Bar vs Toro, and Oleana vs. Hyland Kitchen.
Who do you think will come out on top?