Cazoo to slash brand to one-third of marketing spend by 2023


Cazoo Metro WrapCazoo plans to “reverse” its brand and performance marketing balance by 2023, increasing performance to two-thirds of spend while brand investment drops back, founder and CEO Alex Chesterman has said.

In 2021 it was brand activity that accounted for two-thirds of spend, he told investors today (2 August) as the company reported results for the first half of 2022. The balance shift is expected to progress over the second half of this year.

Cazoo first revealed plans to lower its brand marketing spend to focus on performance channels in June. At the same time the online car retailer announced it was embarking on a “business realignment” programme to “de-risk the path to profitability”.

The goal is to “right-size” the business and deliver more than £200m in savings by the end of next year.

Over the first half of 2022 marketing spend increased to £45m, up from £29m over the same period in 2021. According to outgoing CFO Stephen Morana, spend was still weighted towards brand over the period.

However, the business is promising to “lower” selling, general and administrative costs per unit moving forward, while “minimising” the impact on growth and customer experience.

Cazoo switches from brand to performance in bid to ‘realign’ business“As we focus more on capital preservation, cash management, [and] moving towards profitability, performance will be a significantly larger part of our outgoing spend,” Morana said.

Nevertheless, Chesterman said the “strength” of Cazoo’s brand and customer experience remains a “key differentiator” for the business, claiming national brand awareness of 80% across the UK.

Branding the opportunity in the UK “massive”, with a used car market of around 8 million transactions annually, Chesterman said digital penetration remains “extremely low” and the market remains “hugely fragmented”.

This gives Cazoo the opportunity to build the “leading brand” in the sector, he said. The business expects to rapidly increase market share towards 5% “and beyond”.

However, “whilst our growth remains very strong, we are laser-focused on preserving cash and materially reducing any need for any further funding while we drive towards profitability”, he said.

Wider cuts

The business reported record revenues for the six months to June, up 153% year-on-year from £248m to £628m. The number of vehicles sold rose 113% to 43,668.

However, gross profit was only £3m, down from £11m last year. Cazoo therefore reported a loss before tax of £251m, up from £109m, and a total loss of £243m, up from £102m.

As we focus on capital preservation, cash management, [and] moving towards profitability, performance will be a significantly larger part of our outgoing spend.

Stephen Morana, Cazoo

As part of the business realignment programme announced in June, Cazoo also intends to cut around 15% of its employees – equivalent to 750 jobs across the company – and slow the pace of new hiring. The plan also includes “modifying” the consumer proposition to drive costs down and improve operating efficiencies, as well as limiting the company’s capital expenditure and delaying several planned investment projects.

The business also axed its subscription service for new customers, given the “highly cash consumptive nature of this business model”.

Now, Cazoo is conducting a “strategic review” of its business in mainland Europe, with the aim of further reducing cash burn.

Investment in brand

At the beginning of 2020, Cazoo kicked off a multimillion-pound marketing investment spanning TV, radio, outdoor and online.

Since then, the startup has added a series of high-profile sponsorships, including becoming shirt sponsor of Premier League football teams Aston Villa and Everton. The sponsorship strategy expanded to include deals with cricket competition The Hundred, a tie-up with Professional Darts Corporation (PDC) tournaments and a partnership with French football club Marseille that it signed in March.

The online car retailer was chasing international expansion, with a view to disrupting the $700bn (£506bn) European used car market. To achieve that aim, the focus thus far has been on investing in the brand for the long term and performance marketing to drive short-term sales.

Speaking to Marketing Week last year, chief customer officer Darren Bentley insisted investing in brand makes everything else “much more efficient”, as it drives trust, awareness, reach and credibility. He argued brand investment makes performance marketing more efficient, SEO easier and drives long-term customer acquisition.

Growth Hacks: Cazoo on the importance of nailing the marketing mix

Bentley claimed Cazoo was reaping the rewards of a brand building strategy spanning TV, press, radio, out-of-home and sponsorship. He noted the business had achieved 70% prompted brand awareness despite being on TV for less than two years. At the time, he explained a combination of organic and brand-driven channels – including PR, word of mouth referrals, SEO and search traffic – accounted for more than 50% of customer acquisition.

“We’re less than two years into trading and I’ve got a marketing and customer acquisition mix that looks like a business that’s been trading for 50 years. We’ve been able to do that because we’ve set out to do that from the start,” said Bentley.

The mistake many startups make, he argued, is becoming “overly dependent on performance marketing and digital-driven customer acquisition early on”, because such channels are cheap and easy to measure. Bentley claimed startups that don’t get onto brand building “quick enough” tend to “cap out in growth”, because performance marketing can only take you so far.

Furthermore, the Cazoo marketing boss argued that if a business model does not accommodate the cost of building a brand it is flawed and will end up slowing growth. At the time he urged brands to build their marketing mix around the budget and size of audience, opting for a blend of short and long-term activity.

Additional reporting by Charlotte Rogers





Source link

Tips For Leveraging The Power Of Voice Search Optimization


Imagine two businesses competing for the same customers.

Let’s call them Store A and Store B.

They are identical except for one thing: Store A has a location that’s easier for 7 out of 10 customers to access.

Which company will do more business?

You don’t need an MBA to figure this out – Store A offers more convenience and will therefore grab more market share.

Now, consider one convenience you can add to your website that will make a similar impact: voice search.

According to Statista, there will be 8 billion voice assistants in use worldwide by 2024.

That’s a lot of people speaking into their phones or smart speakers.

And if you’re not optimizing your web content to account for it, you’re leaving a lot of opportunities on the table.

Why are so many people using this functionality? Why is it important for search engine optimization? And more importantly, how do you claim your share?

Read on for answers to these questions and more.

How Popular Is Voice Search?

We’ve already established how many people prefer to use the voice search capabilities on their devices, but let’s look at some other relevant statistics, just to drill home the importance of taking advantage of this trend:

  • In 2022, 35% of Americans over 18 own a smart speaker (up from 32% in 2021).
  • 62% of Americans over 18 use voice assistants on their devices.
  • One of the top three reasons consumers want a smart speaker is to ask questions without needing to type.
  • 80% of smart speaker owners find it easier to use to discover new content and events.
  • 57% of voice assistant users use it at least once per day.

As you can see, smart speaker and voice assistant usage is growing more popular in the competition for search traffic, and is only expected to rise.

And there are two key things that we haven’t even mentioned yet – accessibility and UX (user experience).

Voice Search Improves Accessibility

The US Department of Justice has been clear: Websites fall under the Americans with Disabilities Act (ADA).

And non-compliance can cost you more than potential traffic – you can be fined as much as $75,000 for a first offense.

Voice search plays a big role in ensuring your website can be accessible to everyone.

This includes those with physical limitations that restrict them from using the keyboard and mouse, those with repeated stress injuries who need to limit their time using keyboards and mouses, and people with cognitive issues who prefer to use voice search.

A lot of this functionality relies on speech recognition technology, but you may not realize the way your website is coded can also have a big impact.

According to the WAI (Web Accessibility Initiative), there are several best practices your site should adhere to in order to ensure accessibility, including reading order corresponding with code order, the use of alt tags for images, and adding markup to convey meaning and context.

For a complete list of the WAI’s recommendations and information on implementing them, click here.

Voice Search UX Outcomes For Users

The link between good UX and improved search engine results has been well demonstrated. And the growth of voice search means designing your UX around voice interaction is becoming more important.

How your brand interacts with different voice search-enabled devices can significantly determine whether users have a positive or negative experience.

But before addressing this, you need to understand how people use voice search.

One of its main uses is informational.

Say you’re elbow deep in pasta dough, making tortellini while a red sauce simmers away in a pot on the stove.

You can’t remember how long the sauce is supposed to be on, so without taking the time to wash and dry your hands, you call out to your smart speaker, “Hey Google, how long should tomato sauce cook?”

Or you’re hanging out with some friends when one of your buddies refuses to believe Willie Mays ever played for the Mets.

A quick voice search can help you, once again, demonstrate your superior baseball knowledge.

In addition to settling arguments, many people also use it to check the news and weather.

Another common use is “near me” searches.

For example, you’re on a road trip in a state you’ve never been to. Your car is running on fumes, and you must find a gas station as soon as possible.

Without ever taking your eyes off the road, voice search can direct you to the nearest place to fill your tank.

And of course, there’s voice shopping, which was briefly touched on earlier.

From making shopping lists to ordering pizza to purchasing products with voice alone, more and more people are initiating and completing purchases without ever looking at a screen.

The uses for voice search are growing right alongside its increasing popularity.

So, that raises the question: how do you get in on it?

Prioritize Your Voice Search Efforts By Channel And Audience

When developing your voice SEO strategy, you must understand the capabilities and limitations of the platform you’re designing for. There are two approaches here:

  • Screen-first devices like smartphones, tablets, and smart TVs.
  • Voice-first devices like smart speakers.

Each of these offers different strengths.

Screen-first devices (when the screen is being utilized) offer an efficient output for information.

Visual scanning is faster than listening and can be used to convey more info in less time. As the saying goes, a picture is worth a thousand words.

Voice-first devices, on the other hand, provide an efficient input.

Users can give commands quickly and easily on their own terms.

Of course, this relies on the device understanding natural language, a technology that has vastly improved since voice commands were in their infancy.

Depending on your website’s content, your user demographics, and a host of other factors, your users may be more inclined to prefer one type of device over the other.

You also need to understand at which stage of the buyer journey voice search is used.

More people are using voice assistants to research products than buy them, with 44.4% of U.S. consumers using them to browse new products, but only 24.2% using them to complete a purchase.

Most of these purchases are small items that don’t require being looked at, such as toilet paper or dog food.

Take all these factors into account, then tailor your voice strategy to your specific audience and channel.

Once you have that done, it’s time to get down to the nuts and bolts of optimizing your content.

Optimizing Your Content For Voice Search

If you don’t have much experience designing vocal user experiences or VUI (vocal user interfaces), don’t worry – this is fairly new ground.

While these are different from GUIs (graphical user interfaces), the UX/UI principles still apply, as does the effect user experience has on your search ranking.

Here are some important elements to consider when designing your VUI or converting over existing content to optimize it for voice search:

Start With A Plan

Rather than tackling your VUI and/or voice search optimization piecemeal, you should spend time developing a flowchart explaining how voice search users will navigate through your site.

Doing some upfront planning will save you lots of headaches, hassle, and duplicate work on the backside.

Make Interaction Natural

Voice searchers use natural language to find things, often using more words.

Whereas a desktop searcher might type [Chinese delivery nearby], someone using voice search is more likely to say, “Where’s a good Chinese delivery place near me?”

The same long-tail keywords used for ordinary SEO purposes will come into play in voice search.

Try to use full phrases and queries, which are even better than long-tail keywords. And make sure you’re always thinking about user intent.

Design For Flow

Earlier, we mentioned how your HTML, CSS, and other code should be structured the same way a person would read your site so it tells the same story in voice search.

You also need to take this sequential approach to structure your content.

Make sure the content follows a logical course.

Create verbal tags that can be easily navigated by voice alone (e.g., “select option #2″).

Improve Your Domain Authority

Here’s where your regular SEO efforts can pay dividends for voice SEO.

Voice search almost always selects the first search result to answer a query.

That makes it crucial to have your site fully optimized for ordinary search.

Check your backlinks, maximize your keywords, boost your local search, and do all the other tasks that come with SEO, and it will also reap rewards in voice search.

Grab Featured Snippets

Featured snippets aren’t just great for mobile and desktop search – they’re also used to answer voice search results.

In fact, 60% of all voice search answers come from featured snippets.

So, if your content claims this valuable real estate for a query, you will get the lion’s share of voice traffic.

Get Local

Because so many voice searchers are looking for local answers, your content needs to be optimized for it.

If you’re not already, get listed in Google’s local rankings.

If you’re already there, work to improve your results.

The goal is to be the answer when someone searches Google to answer queries like, [Where can I get a dress altered near me?]

Voice Search Is Only Going To Grow

Some technologies burn bright for a few years and then completely fade away – remember HD DVD?

Voice search is unlikely to be one of them.

Instead, it’s finding new uses and an even larger niche as technology becomes more advanced.

If anything, it’s the keyboard and mouse model we’ve grown to know and love that is more likely to become obsolete, especially should Elon Musk’s futuristic Neuralink catch on.

The most important thing in this sci-fi-come-to-life world will be user experience.

It’s not farfetched to imagine AI-powered search learning our likes and dislikes and providing answers customized to our unique intent.

The best way to ensure you’re prepared for this brave new world is to harness the existing cutting-edge technologies to ensure you’ve future-proofed your position as much as possible.

And that means leveraging the power of voice search.

It’s the foundation upon which much of the future of search will be built, which makes it crucial that you get on board.

Your targets are speaking. Make sure your website is listening.

More resources:


Featured Image: Prostock-studio/Shutterstock





Source link

Google Algorithms And Updates Focusing On User Experience: A Timeline


As the role of search evolves to touch multiple marketing and consumer touchpoints, optimizing for the user has never been so important.

This is reflected in Google’s continual focus on the searcher experience. Whether in its core algorithmic updates, new features, products, or SERP format changes.

While some of these Google changes have involved updates targeting low-quality content, links, and spam, other updates aim to understand consumer behavior and intent.

For example, most recent updates have focused on page speed, Core Web Vitals, and product reviews.

Considering the massive competition for SERP real estate from brands, even slight drops in position will critically impact traffic, revenue, and conversions.

In this article, I examine a combination of some (not all) Google updates and technological advancements that significantly reflect the search engine’s focus on the human user and their experiences online – from Panda in 2011 through to Page and Product Experience in 2021 and 2022.

Google Panda (2011)

First launched in February 2011, subsequent updates were continuous and added to Google’s core algorithm.

Panda was announced to target sites with low-quality content; this was one of the first signals that Google focused on content for the user experience.

The focus: producing and optimizing unique and compelling content.

  • Avoid thin content and focus on producing high-quality information.
  • Measure quality over quantity.
  • Content length is not a significant factor but needs to contain information that answers the user’s needs.
  • Avoid duplicate content – initially a big concern for ecommerce sites. Most recently, Google’s John Mueller explained that duplicate content is not a negative ranking factor.

Google Hummingbird (2013)

Following the introduction of the Knowledge Graph came Hummingbird with a focus on semantic search.

Hummingbird was designed to help Google better understand the intent and context behind searches.

As users looked to enter queries more conversationally, it became essential to optimize for user experience by focusing on content beyond the keyword with a renewed focus on the long tail.

This was the first indication of Google using natural language processing (NLP) to identify black hat techniques and create personalized SERP results.

The focus: creating and optimizing content that audiences want and find helpful.

  • Long-tail keywords and intent model strategies became crucial.
  • Content creation is needed to address what users are interested in and would like to learn.
  • Expand keyword research to include conceptual and contextual factors.
  • Avoid keyword-stuffing and producing low-quality content to personalize experiences.
Google's focus on the user experienceImage source: BrightEdge, July 2022

E-A-T (2014)

Although it gained attention in 2018, the Google E-A-T concept first appeared in 2014 in Google’s Quality Guidelines.

Now, it is part of Google’s guidelines on focusing on YMYL – your money or your life.

Marketers were advised to focus on content that could impact their readers’ future happiness, health, financial stability, or safety.

Google established E-A-T guidelines to help marketers tailor on and off-page SEO and content strategies to provide users with an experience containing the most relevant content from sources they could trust.

In other words: Expertise, Authority, and Trust.

The focus: ensuring websites offer expert and authoritative content that users can trust.

  • Create content that shows expertise and knowledge of the subject matter.
  • Focus on the credibility and authority of websites publishing content.
  • Improve the overall quality of websites – structure and security.
  • Earn off-page press coverage on reputable sites, reviews, testimonials, and expert authors.

Mobile Update (2015)

This was the first time Google gave marketers a heads-up (or a warning, for many) that an update was coming.

Focusing on the user’s experience on mobile was a significant signal reflecting the growing use of mobile as part of the customer search journey.

Google clearly communicated that this update would prioritize mobile-friendly websites on mobile SERPs. Many more mobile updates followed.

The focus: mobile content and users’ mobile site experience.

  • Focus on design factors such as responsive design and mobile page structures.
  • Enhance site navigation, so mobile users can quickly find what they need.
  • Avoid format issues on mobile that were different from the desktop experience.
  • Confirm that websites are mobile-optimized.

Just after the mobile update went live, Google quietly issued a Quality update.

Websites that focused on the user experience by focusing on quality content and avoiding too much irrelevant user-generated content and too many ads did well. This was another sign that Google was putting the user experience first.

RankBrain (2015)

Like the Hummingbird principles and NLP mentioned earlier, Google RankBrain was more of a change to the algorithm.

It gave us an indication of how vital machine learning was in all marketing and technology forms.

Utilizing this to learn and predict user behavior, RankBrain powered search results based on an even better understanding of users’ intent.

The focus: ensuring that content reflects user intent and optimizing for conversational search.

  • Place greater focus and emphasis on creating content that matches the user’s intent.
  • Ensure that all aspects of technical SEO are updated (such as schema markup, for example).
  • Google signified that RankBrain was the third-most important ranking signal.

Google Mobile-First Indexing (2018)

The Mobile-First Indexing Update meant that Google would use the mobile version of a webpage for indexation and ranking.

Once again, this was aimed to help enhance the user experience and help users find what they are looking for.

Producing content for mobile and focusing on speed and performance became paramount to success.

The focus: re-affirming the importance of mobile optimization, content, speed, and mobile site performance.

  • Improve AMP and mobile page speed and performance.
  • Ensure that URL structures for mobile and desktop sites meet Google requirements.
  • Add structured data for both desktop and mobile versions.
  • Make sure the mobile site contains the same content as the desktop site.

Google has said that March 2021 is the rollout date for its mobile-first index.

Shortly afterward, Google made mobile page speed a ranking factor so website owners would focus on load times and page speed to enhance the user experience.

Broad Core Algorithm Updates (2018)

2018 was a year in which Google released lots of core algorithm updates covering areas such as social signals and the so-called medic update.

After the August update, in particular, Google’s John Mueller suggested making content more relevant.

While there was some confusion on ranking factors and fixing specific issues, it did bring the concept of E-A-T and content for the user top of mind for many SEO professionals and content marketers.

On the topic of rater guidelines being key to the broad update, Google’s Danny Sullivan suggested:

“Want to do better with a broad change? Have great content. Yeah, the same boring answer. But if you want a better idea of what we consider great content, read our raters guidelines. That’s like almost 200 pages of things to consider.”

BERT (2019)

Following RankBrain, this neural network-based method for natural language processing allowed Google to understand conversational queries better.

BERT allows users to find valuable and accurate information more easily.

According to Google, this represented the most significant leap forward in the past five years and one of the greatest in search history.

The focus: improving the understanding of consumer intent through conversational type search themes.

  • Increase the depth and specifics of the content.
  • Work more with long-tail queries and phrases using more than three words.
  • Ensure that content addresses the users’ questions or queries and is optimized correctly.
  • Focus on writing for humans clearly and concisely so that it is easy to understand.

Read more on BERT and SMITH here.

COVID-19 Pandemic (March 2020)

The global pandemic meant that consumer behavior and search patterns changed forever as Google continued to focus on E-A-T signals.

Google began to emphasize YMYL signals as the internet struggled to cope with misinformation and SEO pros struggled to keep up with the rapid shifts and dips in consumer behavior.

From setting up 24-hour incident response teams with the World Health Organization and policing content to helping people find helpful information and avoiding misinformation, the user’s needs never became so important.

The demand for SEO rose to an all-time high, and Google released a COVID-19 playbook.

Google Page Experience Update And Core Web Vitals Announced (May 2020)

Focusing on a site’s technical health and metrics to measure the user experience of a page metrics include looking at how quickly page content loads, how quickly a browser loading a webpage can respond to a user’s input, and how unstable the content is as it loads in the browser.

The focus: integrating new Core Web Vitals metrics to measure and improve on-page experiences.

  • Mobile-friendliness, safe browsing, HTTPS, and intrusive interstitials – The Google Page Experience Signal.
  • LCP (Largest Contentful Paint): Improve page load times for large images and video backgrounds.
  • FID (First Input Delay): Ensure your browser responds quickly to a user’s first interaction with a page.
  • CLS (Cumulative Layout Shift): Include the size attributes on your images and video elements or reserve the space with CSS aspect ratio boxes and ensure content is never inserted above existing content, except in response to user interaction.

Broad Core Algorithm Updates (2020)

The third Google core algorithm update of the year rolled out in December 2020. This came in the form of slight changes that affect the order and weight of certain (not always disclosed) ranking signals.

According to SEJ Contributor Ryan Jones:

“Google aims to serve content that provides the best and most complete answers to searchers’ queries. Relevance is the one ranking factor that will always win out over all others.”

Read more on December’s Core Update here.

Passage Ranking (February 2021)

Google officially rolled out its passage-based indexing, designed to help users find answers to specific questions.

You’ve probably seen this in the wild, but essentially this allows Google to highlight pertinent elements of a passage within a piece of content that fits the question.

This means long-form content that may not be skimmable but provides valuable answers could be surfaced as a result.

Ultimately, this makes it easier for Google to connect users to content without making them hunt for the specific answer to their questions when they click on a page.

Passage Ranking (February 2021)Screenshot from blog.google, July 2022

The key to success with passage ranking goes back to focusing on creating great content for the user.

Read more on the 16 Key Points You Should Know here.

Product Reviews Update (April 2021)

This new product review update was designed to improve a user’s experience when searching for product reviews.

Marketers were advised to focus on avoiding creating thin content as this update will reward content that users find most helpful.

The focus: rewarding creators who provide users with authentic and detailed review content

Google shared nine helpful questions to consider when creating and publishing product reviews.

  • Show expert knowledge about products.
  • Differentiate your product compared to competitors.
  • Highlight benefits and any drawbacks clearly and concisely.
  • Show how the product has evolved to fit the needs of the user.

Read more here.

MUM (May 2021)

Following RankBrain and BERT, MUM (Multitask Unified Model) technology utilizes AI and NLP to improve information retrieval.

For the end user, this technological advancement helps provide better information and results as it processes multiple media formats such as video, images, and audio.

Pandu Nayak, Google fellow and vice president of Search, said:

“But with a new technology called Multitask Unified Model, or MUM, we’re getting closer to helping you with these types of complex needs. So in the future, you’ll need fewer searches to get things done.”

Read more here.

Page Experience Update And Core Web Vitals (CWV) Rollout (June 2021)

The much-anticipated Page Experience Update, including Core Web Vitals, rolled out, with further updates to desktop following in March 2022.

Nine months after the rollout of Google’s Core Web Vitals and over a year since BrightEdge launched pre-roll predictive research, new research showed how many industries are adapting and improving their Core Web Vitals.

The focus: improving Pages Experiences for users with speed and precision.

 

The focus: improving Pages Experiences for users with speed and precision.Image source: BrightEdge, July 2022
  • Retail giants have made significant strides in improving experiences.
  • In cases like Retail, CWV metrics like input delay have been cut in half.
  • Although Finance was the best prepared last year, it made the least performance gains in the categories ​evaluated.

Spam Update (June 2021) And Link Spam Algorithm Update (July 2021)

Spam updateImage source: BrightEdge July 2022

Ensuring users get the right results based on their searches is foundational to a good experience.

In addition, updates and algorithm changes help protect users’ privacy to keep searches safe and secure.

The focus: keeping user experiences safe.

Learn more in this video from Google here.

Local Search Update (November 2021))

Google has always provided local search updates for local search users and fine-tuned its algorithm for better user results.

Local search is a huge channel, not to be underestimated, but a whole other post.

This also includes guidance on how businesses can improve their local ranking for improved customer experiences.

Read more here.

Product Algorithm Update (March 2022)

On March 23, 2022, Google provided an instruction update based on how product reviews are performing in one year.

This also informed the community of improved rollout updates that will help users surface accurate and relevant information to help with purchasing decisions.

The focus: user experience and surfacing results that help users make purchasing easier.

Google Algorithms & Updates Focused On User Experience: A TimelineScreenshot from Google Search Central blog, July 2022
  • As always, showcase your expertise and ensure the content is authentic.
  • Share why you recommend products with evidence to support it.

Read more advice here and here.

Conclusion

A successful user experience requires a combination of content and technical expertise. Updates and guidance help marketers create content for the user.

In addition, algorithms and technological advancements help Google surface better results and showcase accurate, relevant, and trustworthy content.

Google will continue to focus on improving experiences for its user.

As a marketer who wants to optimize for both, ensuring your website (from navigation, speed, and reliability) and focusing on content is vital.

Many of Google’s updates signal that technical SEO, data science, and content marketing excellence are coming together.

Stay up to date and read through all of Google’s Updates here on SEJ.

More Resources:


Featured Image: Gorodenkoff/Shutterstock





Source link

Pinterest : A Letter From Our New CEO – Form 8-K


A Letter From Our New CEO

Dear Shareholders,

I want to start by offering my gratitude to Ben and the Pinterest Board of Directors for giving me the opportunity to lead Pinterest. I have long admired what the Pinterest brand and platform stand for, and believe there is no better time to join this incredible company. Today there are 433 million users around the world who come to Pinterest each month to find a positive place online where they can find inspiration for so many parts of their lives.

Given our strong foundation and the significant opportunities still ahead, I am confident Pinterest will usher in a new chapter of growth and success. Having spent the majority of my career building and leading commerce and financial technology businesses from startups to large organizations, it’s clear to me that Pinterest is a very unique platform, having both inspiration and strong intent in the same experience. As we work to make it easier for users to act upon that inspiration and intent, we plan to make Pinterest an even more attractive forum for advertisers and content creators to engage with hundreds of millions of users while helping people accomplish their daily goals of making, doing and buying.

In my first few weeks, I’ve been listening closely to stakeholders – including investors, employees, users, advertisers and creators. From those conversations it is clear that there is shared conviction and optimism for the Pinterest platform and community. It is also clear that the market is evolving rapidly and we must do the same.

The team and I are focused on developing and executing against a long-term plan to help Pinners engage more deeply with all the inspiring products and services they find on our platform so they can build their best lives. At the same time, as the market adapts, we will as well. That includes meeting the moment to help users and advertisers navigate shifting needs as well as balancing growth with profitability in our own business.

We’re passionate about our mission to bring everyone the inspiration to create a life they love and look forward to sharing more on how we will position Pinterest as a go-to platform for inspiration-to-realization in the months to come.

Sincerely,

Bill Ready

Q222 Highlights

•Q2 revenue grew 9% year over year, and 16% quarter over quarter to $666 million. Strength came from large retailers, and our international business, which was partially offset by weakness due to macroeconomic uncertainty.

•Global Monthly Active Users (MAUs) of 433 million were flat quarter over quarter, and down 5% year over year.

•GAAP net loss was $43 million for Q2, compared to GAAP net income of $69 million in the year ago quarter. Our Adjusted EBITDA1 was $92 million for Q2.

Q222 Business Highlights

Pinner Experience

The Pinner is the focal point of what we do. To that end, we are intent on innovating across our platform to build a positive place that helps our users find inspiration, organize and plan for the future, as well as discover goods and services to turn that inspiration into reality.

In Q2, 433 million global monthly active users came to Pinterest, similar to Q1 levels. We continue to improve the heart of our user experience. These investments include:

1) Advances in machine learning and artificial intelligence systems that drove significant improvement in the relevance of home feed recommendations.

2) Focus on growing our native content ecosystem through the expansion of our creation tools to more Pinners and through content partnerships.

3) Diversification of growth channels outside of search engine optimization (SEO) including more personalized notifications and sharing Idea Pin content on third-party platforms. We believe that these other channels, over time, can become important sources of traffic for new and resurrected users on Pinterest.

Finally, Pinterest is committed to providing a positive and inclusive place online. In June we launched Compassionate Search to 11 new countries, allowing Pinners to access emotional well-being activities they can do right from the Pinterest app. We expanded hair pattern search for people of diverse backgrounds to new international markets in the quarter. Finally, we’re partnering with organizations like the Mental Health Coalition in the U.S., to amplify informative and inspiring content on our platform.

Inspiration & Content

We believe that inspirational content is an important on-ramp to much of the engagement that happens on Pinterest. We began investing in a native content ecosystem with an initial emphasis on video, which is a fundamental medium for inspiration and planning and an important avenue to drive more commerce, engagement and action on our platform.

Q2 marked another period of progress growing this ecosystem.

•As we increase the supply of native content, our machine learning systems are getting better at serving personalized recommendations. As a result, the relevance of Idea Pins on the home feed has improved significantly quarter over quarter.

•We signed a global, multi-year partnership with Tastemade to bring high quality video across our core and emerging verticals. Tastemade will create Idea Pins, new shows for Pinterest, and stream hundreds of hours of new live programming for Pinterest TV from Tastemade’s studios.

1 This non-GAAP financial measure excludes share-based compensation (SBC), depreciation and amortization expense, interest income, interest expense and other income (expense), net, provision for (benefit from) income taxes and non-cash charitable contributions. For more information on this, please see “About non-GAAP financial measures.”

•We launched Idea Ads and the paid partnership tool, which were previously in beta. Idea Ads are immersive, multi-page video ads designed to show ideas in action. Through the new paid partnership tool, creators can tag brand partners directly in their content. When creators share ideas about brands, people can get inspired to act on them, driving awareness and sales for those brands.

Shopping

We continue to make Pinterest the home for personalized, taste-driven shopping. Since 2019, we’ve amassed over one billion catalog items by adding merchant partners, making it easier for merchants to upload their products, and driving gross merchandise value (GMV) for businesses.

Our investments in the Pinterest API for Shopping enables merchants to more easily upload and manage a product feed, and update merchants’ metadata, such as price and availability, in real time. We are making progress with the beta test of Your Shop, a customized shopping page powered by our taste-driven algorithm informed by Pinners’ unique preferences and styles.

Finally, we acquired The Yes Platform, Inc. (“The Yes”), a commerce platform for fashion. The Yes team joined Pinterest’s Shopping team, bringing their unique AI-based commerce technology in fashion and years of collective shopping experience, which we believe will make Pinterest a compelling shopping destination.

Pinterest for Business

The macroeconomic environment has created meaningful uncertainty for our advertiser partners. We believe that providing measurable returns is fundamental to delivering value to advertisers and, in the long term, will help drive incremental sales. In addition, our unique insights into consumer behavior prompt many advertisers to turn to our platform. We are focused on delivering advertiser value across these key areas.

Measurable Returns for Advertisers

We are investing across our advertising platform to help businesses reach their goals on Pinterest. In June, we launched Idea Ads in 34 markets, offering advertisers a creative new ad format to turn inspiration into realization.

In July, we expanded the available use cases of our Pinterest API v.5 by releasing ad management campaign features. We plan to continue building on the API functionality for advertisers throughout the year. We also expanded our measurement offering, launching our improved modeled conversions product in Q2. By automatically integrating modeled conversions into our first-party reporting and measurement solutions, we expect to continue providing a comprehensive view of campaign reporting for our advertisers. Finally, we’ve expanded our ad offering to more countries. In Q2, we launched ads in Japan and in July we expanded our Latin America presence to Chile, Argentina and Colombia.

Driving Sales

We continue to expand our shopping capabilities for merchants and advertisers. In Q2, our shopping ads revenue grew at double the rate compared to overall revenue year over year. And we’re focused on streamlining the functionality for advertisers to use our shopping features. First, our advertisers in all shopping markets can now leverage the Pinterest API for Shopping to manage their inventory and update product availability and price in real-time. Second, we introduced product group suggestions so merchants can easily add or remove groups for their shopping campaigns or brand storefront. This reduces the friction for merchants to scale their presence.

Providing Unique Insights

People use Pinterest to plan for the future. So while across the industry, most focus on what has trended, Pinterest trends are predictive. In Q2, we launched a beta of our Pinterest Trends tool. The new tool supports trends in 22 new countries, and is designed to help advertisers, agencies, and creators. Advertisers and agencies can organize trends by the audiences that matter most to them to build more relevant, resonant campaigns. We believe the Pinterest Trends tool is particularly useful for advertisers facing macroeconomic volatility by helping them predict future consumer demand, and enabling them to allocate budgets accordingly.

Q222 Financial Highlights

Q2 revenue grew 9% year over year to $666 million, and 16% quarter over quarter to $666 million. Strength came from large retail advertisers and our international business, which was partially offset by weakness due to macroeconomic uncertainty. Our global Monthly Active Users (MAUs) were flat quarter over quarter and decreased 5% year over year to 433 million. The year-over-year decline was due to a combination of factors, some of which are easier to quantify than others, such as lower traffic from search engines and the lingering impact from the pandemic unwind in the year-ago quarter. Other factors, including competition for time spent on competing platforms, also remained a headwind. Our Q2 GAAP net loss was $43 million or (6)% of revenue. Non-GAAP net income2 was $77 million and our Adjusted EBITDA1 was $92 million or 14% of revenue.

Users & Engagement

Global MAUs at quarter-end were 433 million. While our global MAUs were flat quarter over quarter, we recognize there is work to be done to grow, particularly in our more mature user base in the U.S.& Canada and Europe regions.

On a year-over-year basis, global MAUs declined 5%. This was due to a combination of factors, some of which are easier to quantify than others, such as: lower traffic from search (largely driven by Google’s algorithm update in November 2021) that have resulted in reduced new user traffic and resurrections; and the lingering impact from the pandemic unwind, particularly outside the U.S., which impacted our engagement as many countries started to open up in the year ago quarter. Other factors, such as the impact of competition for share of time spent from video-centric platforms, particularly in our more mature markets, also remained a headwind. We note that global year-over-year declines were most pronounced for our web users.

While global MAUs declined year over year, our global mobile app MAUs grew high-single digits, accelerating off of Q1, and U.S. & Canada mobile app MAUs declined 2% year over year, an improvement from the year-over-year rate of decline we experienced in Q1. We saw continued strength within the younger demographic, with global Gen Z users growing low-double digits year over year.

By region:

•U.S. & Canada MAUs were 92 million, a decrease of 8% year over year in comparison to 100 million in the same period of the previous year.

•Europe MAUs were 117 million, a decrease of 4% year over year in comparison to 123 million in the same period of the previous year.

•Rest of World MAUs were 223 million, a decrease of 3% year over year in comparison to 231 million in the same period of the previous year.

Revenue

Total revenue was $666 million, an increase of 9% year over year compared to Q2 2021. Adjusting for foreign exchange headwinds, total revenue grew 10%. Strength came from our large retailers (namely online and specialty retailers), and our international business. This strength was partially offset by lower than expected demand from U.S. big box retailers and mid-market advertisers, who pulled back ad spend due to concerns about weakening consumer demand. Our CPG advertisers also continued to face challenges due to supply chain issues and inflationary pressures.

By region3:

•Total U.S. and Canada revenue was $542 million, an increase of 7% year over year. U.S. and Canada revenue increases were driven by ARPU.

2 This non-GAAP financial measure excludes SBC, amortization of acquired intangible assets and non-cash charitable contributions. For more information on this, please see “About non-GAAP financial measures.”

3 Revenue is geographically apportioned based on our estimate of the geographic location of our users when they perform a revenue-generating activity. U.S. and Canada, Europe and Rest of World may not sum to Global due to rounding. This allocation differs from our disclosure of revenue disaggregated by geography in the notes to our condensed consolidated financial statements where revenue is geographically apportioned based on our customers’ billing addresses.

•Total Europe revenue was $102 million, an increase of 10% year over year. Europe revenue increases were driven by ARPU. Adjusting for foreign exchange headwinds, growth in revenue from Europe would have been 22%.

•Total Rest of World revenue was $22 million, an increase of 71% year over year. Rest of World revenue increases were driven by ARPU.

ARPU

Global ARPU grew 17% year over year to $1.54, compared to $1.32 in Q2 2021. The ARPU expansion was driven primarily by advertising demand and the continued success in our lower funnel shopping related ad products. We continue to build our sales coverage, increase our shoppable content, and execute on our strategy to provide relevant ads to our users in regions within and outside of the U.S. and Canada.

By region:

•U.S. and Canada ARPU was $5.82, an increase of 20% year over year.

•Europe ARPU was $0.86, an increase of 20% year over year.

•Rest of World ARPU was $0.10, an increase of 80% year over year.

Expenses

Total costs and expenses were $700 million, including $120 million of share-based compensation (SBC) and amortization of acquired intangible assets. Our total costs and expenses grew 29% year over year due to headcount growth as well as increased infrastructure spend. Total non-GAAP costs and expenses2 were $580 million, representing 87% of revenue compared to 72% of revenue in the year-ago quarter. Our non-GAAP costs and expenses grew 31% year over year. The growth reflects an increase in headcount and infrastructure spend as well as higher consulting and facilities expenses. Our loss from operations totaled $35 million, or (5)% of revenue, compared to income of $71 million and 12% for the same period in 2021. Non-GAAP income from operations2 was $86 million, or 13% of revenue, compared to income of $172 million, or 28% for the same period in 2021.

Costs and expenses

•Cost of revenue was $165 million or 25% of revenue, up from 21% in the year-ago quarter. Non-GAAP cost of revenue4 was $163 million or 24% of revenue, up from 20% of revenue in the year-ago quarter. The increase as a percentage of revenue is due to an increase in infrastructure expense due to higher compute utilization.

•Research and development expenses were $234 million, up 28% year over year. On a non-GAAP basis, expenses grew 37% year over year to $152 million. The increase was due primarily to higher headcount, as well as higher consulting and facilities expenses.

•Sales and marketing expenses were $212 million, up 29% year over year. On a non-GAAP basis, expenses grew 27% year over year to $192 million. The increase was due primarily to higher headcount as well as higher consulting and facilities expenses.

•General and administrative expenses were $90 million, up 32% year over year. On a non-GAAP basis, expenses grew 35% year over year to $74 million. The increase was primarily due to higher human resources headcount, as well as certain other costs that we would expect to be non-recurring at these levels.

Net income (loss) and Adjusted EBITDA

Net loss was $43 million or (6)% of revenue, compared to net income of $69 million, or 11% for the same period in 2021. Non-GAAP net income2 was $77 million, or 12% of revenue, compared to $170 million, or 28% for the same period in 2021.

Adjusted EBITDA1 was $92 million, or 14% of revenue, compared to the year-ago quarter Adjusted EBITDA of $178 million, or 29% of revenue.

4 This non-GAAP financial measure excludes SBC and amortization of acquired intangible assets. For more information on this, please see “About non-GAAP financial measures.”

Balance sheet and cash flows

•We ended the quarter with approximately $2.66 billion in cash, cash equivalents and marketable securities.

•Net cash provided by operating activities for the six months ended June 30, 2022 was $333 million, a decline from $375 million in the same period last year.

Guidance

Our current expectation is that Q3 2022 revenue will grow mid-single digits on a year-over-year percentage basis, which takes into account slightly greater foreign exchange headwinds than in Q2 2022. We expect our Q3 2022 non-GAAP operating expenses to grow low double digits percent quarter-over-quarter5.

For the full year, there is no change to our previous expense outlook of non-GAAP operating expense growth in the range of 35-40% year over year5.

We intend to provide further detail on our outlook during the conference call.

_____________

5 We have not provided the forward-looking GAAP equivalents for certain forward-looking non-GAAP operating expenses or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as share-based compensation expense. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results and, as such, we also believe that any reconciliations provided would imply a degree of precision that could be confusing or misleading to investors.

Closing

We will host a Q&A webcast at 2:00pm Pacific time/ 5:00pm Eastern time today to discuss these results and our outlook. A live webcast will be available on Pinterest’s Investor Relations website at investor.pinterestinc.com. Thank you for taking the time to read our letter, and we look forward to your questions on our call this afternoon.

Sincerely,

Bill Ready Todd Morgenfeld
CEO CFO and Head of Business Operations

Forward-looking statements

This letter to shareholders may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties, including, among other things, statements about our future operational and financial performance. Words such as “believe,” “project,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of the COVID-19 pandemic, including its impact on our business as well as on global and regional economies and economic activity; general economic and political uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, foreign exchange fluctuations and supply-chain issues as well as events such as Russia’s invasion of Ukraine; our ability to provide useful and relevant content; our ability to attract and retain creators that create relevant and engaging content on our platform; risks associated with new products and changes to existing products as well as other new business initiatives; our ability to maintain and enhance our brand and reputation; compromises in security; our financial performance and fluctuations in operating results; our dependency on online application stores’ and internet search engines’ methodologies and policies; discontinuation, disruptions or outages in authentication by third-party login providers; changes by third-party login providers that restrict our access or ability to identify users; competition; our ability to scale our business and revenue model; our reliance on advertising revenue and our ability to attract and retain advertisers and effectively measure advertising campaigns; our ability to effectively manage growth and expand and monetize our platform internationally; our lack of operating history and ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce expected long-term benefits; risks associated with government actions, laws and regulations that could restrict access to our products or impair our business; litigation and government inquiries; privacy, data and other regulatory concerns; real or perceived inaccuracies in metrics related to our business; disruption, degradation or interference with our hosting services and infrastructure; our ability to attract and retain personnel; and the dual class structure of our common stock and its effect of concentrating voting control with stockholders who held our capital stock prior to the completion of our initial public offering. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, which is available on our investor relations website at investor.pinterestinc.com and on the SEC website at www.sec.gov. All information provided in this letter to shareholders and in the earnings materials is as of August 1, 2022. Undue reliance should not be placed on the forward-looking statements in this letter to shareholders, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

About non-GAAP financial measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we use the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative), non-GAAP income from operations, non-GAAP net income, non-GAAP net income per share and constant currency revenue growth rates. The presentation of these financial measures is not intended to be considered in isolation, as a substitute for or superior to the financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparative purposes. We compensate for these limitations by providing specific information regarding GAAP amounts excluded from these non-GAAP financial measures.

We define Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest income, interest expense and other income (expense), net, provision for (benefit from) income taxes and non-cash charitable contributions. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue. Non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative) and non-GAAP net income exclude amortization of acquired intangible assets, share-based compensation expense and non-cash charitable contributions. Non-GAAP income from operations is calculated by subtracting non-GAAP costs and expenses from revenue. Non-GAAP net income per share is calculated by dividing non-GAAP net income by diluted weighted-average shares outstanding. We use Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share to evaluate our operating results and for financial and operational decision-making purposes. We believe Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share help identify underlying trends in our business that could otherwise be masked by the effect of the income and expenses they exclude. We also believe Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to key metrics we use for financial and operational decision-making. We present Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share to assist potential investors in seeing our operating results through the eyes of management and because we believe these measures provide an additional tool for investors to use in comparing our operating results over multiple periods with other companies in our industry. There are a number of limitations related to the use of Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share rather than net income (loss), net margin, total costs and expenses, income (loss) from operations, net income (loss) and net income (loss) per share, respectively, the nearest GAAP equivalents. For example, Adjusted EBITDA excludes certain recurring, non-cash charges such as depreciation of fixed assets and amortization of acquired intangible assets, although these assets may have to be replaced in the future, and share-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense and an important part of our compensation strategy.

For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables under “Reconciliation of GAAP to non-GAAP financial results” included at the end of this letter.

Limitation of key metrics and other data

The numbers for our key metrics, which include our MAUs and ARPU, are calculated using internal company data based on the activity of user accounts. We define a monthly active user as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. Unless otherwise indicated, we present MAUs based on the number of MAUs measured on the last day of the current period. We measure monetization of our platform through our average revenue per user metric. We define ARPU as our total revenue in a given geography during a period divided by the average of the number of MAUs in that geography during the period. We calculate average MAUs based on the average of the number of MAUs measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. We use these metrics to assess the growth and health of the overall business and believe that MAUs and ARPU best reflect our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in our methodology.

PINTEREST, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)

(unaudited)

June 30, December 31,
2022 2021
ASSETS
Current assets:
Cash and cash equivalents $ 1,641,509 $ 1,419,630
Marketable securities 1,017,510 1,060,488

Accounts receivable, net of allowances of $8,803 and $8,282 as of June 30, 2022 and December 31, 2021, respectively

511,468 653,355
Prepaid expenses and other current assets 75,583 48,090
Total current assets 3,246,070 3,181,563
Property and equipment, net 66,074 53,401
Operating lease right-of-use assets 218,325 227,912
Goodwill and intangible assets, net 145,673 61,115
Other assets 17,890 13,247
Total assets $ 3,694,032 $ 3,537,238
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 57,906 $ 17,675
Accrued expenses and other current liabilities 292,949 242,131
Total current liabilities 350,855 259,806
Operating lease liabilities 192,543 209,181
Other liabilities 14,545 29,508
Total liabilities 557,943 498,495
Commitments and contingencies
Stockholders’ equity:

Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 579,656 and 568,228 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 90,470 and 88,644 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively

7 7
Additional paid-in capital 5,216,308 5,059,528
Accumulated other comprehensive loss (13,258) (2,181)
Accumulated deficit (2,066,968) (2,018,611)
Total stockholders’ equity 3,136,089 3,038,743
Total liabilities and stockholders’ equity $ 3,694,032 $ 3,537,238

PINTEREST, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended June 30,
2022 2021
Revenue $ 665,930 $ 613,210
Costs and expenses:
Cost of revenue 164,896 127,819
Research and development 233,508 181,731
Sales and marketing 212,037 164,340
General and administrative 89,994 68,122
Total costs and expenses 700,435 542,012
Income (loss) from operations (34,505) 71,198
Interest income 3,365 1,125
Interest expense and other income (expense), net (9,252) 337
Income (loss) before provision for income taxes (40,392) 72,660
Provision for income taxes 2,684 3,243
Net income (loss) $ (43,076) $ 69,417

Net income (loss) per share:

Basic $ (0.07) $ 0.11
Diluted $ (0.07) $ 0.10

Weighted-average shares used in computing net income (loss) per share:

Basic

662,242 636,190

Diluted

662,242 692,364

PINTEREST, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Six Months Ended June 30,
2022 2021
Operating activities
Net income (loss) $ (48,357) $ 47,743
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization 16,355 13,537
Share-based compensation 190,653 179,720
Non-cash charitable contributions 20,490
Other 12,473 9,398
Changes in assets and liabilities:
Accounts receivable 143,877 98,686
Prepaid expenses and other assets (31,057) (18,342)
Operating lease right-of-use assets 25,103 20,643
Accounts payable 40,557 (1,498)
Accrued expenses and other liabilities 10,605 25,662
Operating lease liabilities (26,752) (20,646)
Net cash provided by operating activities 333,457 375,393
Investing activities
Purchases of property and equipment and intangible assets (19,916) (3,428)
Purchases of marketable securities (367,806) (571,216)
Sales of marketable securities 4,168 154,586
Maturities of marketable securities 393,784 373,162
Acquisition of business, net of cash acquired (86,059)
Net cash used in investing activities (75,829) (46,896)
Financing activities

Proceeds from exercise of stock options, net

4,080 14,935
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (37,953)
Net cash (used in) provided by financing activities (33,873) 14,935
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,947) (305)
Net increase in cash, cash equivalents and restricted cash 221,808 343,127
Cash, cash equivalents and restricted cash, beginning of period 1,427,064 678,911
Cash, cash equivalents and restricted cash, end of period $ 1,648,872 $ 1,022,038
Supplemental cash flow information
Accrued property and equipment $ 7,314 $ 905
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 15,899 $ 1,657
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets
Cash and cash equivalents $ 1,641,509 $ 1,012,928
Restricted cash included in prepaid expenses and other current assets 1,834 299
Restricted cash included in other assets 5,529 8,811
Total cash, cash equivalents and restricted cash $ 1,648,872 $ 1,022,038

PINTEREST, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS

(in thousands)

(unaudited)

Three Months Ended June 30,
2022 2021
Share-based compensation by function:
Cost of revenue $ 1,417 $ 2,180
Research and development 81,436 70,729
Sales and marketing 18,501 13,996
General and administrative 16,059 13,356
Total share-based compensation $ 117,413 $ 100,261
Amortization of acquired intangible assets by function:
Cost of revenue $ 938 $ 94
Sales and marketing 1,893
General and administrative 197 158
Total amortization of acquired intangible assets $ 3,028 $ 252
Reconciliation of total costs and expenses to non-GAAP costs and expenses:
Total costs and expenses $ 700,435 $ 542,012
Share-based compensation (117,413) (100,261)
Amortization of acquired intangible assets (3,028) (252)
Total non-GAAP costs and expenses $ 579,994 $ 441,499
Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss) $ (43,076) $ 69,417
Depreciation and amortization 9,135 6,754
Share-based compensation 117,413 100,261
Interest income (3,365) (1,125)
Interest expense and other (income) expense, net 9,252 (337)
Provision for income taxes 2,684 3,243

Adjusted EBITDA

$ 92,043 $ 178,213

PINTEREST, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended June 30,
2022 2021
Reconciliation of net income (loss) to non-GAAP net income:
Net income (loss) $ (43,076) $ 69,417
Share-based compensation 117,413 100,261
Amortization of acquired intangible assets 3,028 252
Non-GAAP net income $ 77,365 $ 169,930
Basic weighted-average shares used in computing net income (loss) per share 662,242 636,190

Weighted-average dilutive securities (1)

25,463 56,173
Diluted weighted-average shares used in computing non-GAAP net income per share 687,705 692,364
Non-GAAP net income per share $ 0.11 $ 0.25

(1)Gives effect to potential common stock instruments such as stock options, unvested restricted stock units and unvested restricted stock awards.



Source link

‘Alchemy Of Souls’ Episodes 13 And 14: Recap And Ending – What Is Master Lee’s Secret?


Previously, in “Alchemy Of Souls,” Jin Mu had trapped Jang Uk and Mu Deok in Cheongbugwan after they saw the soul shifter running wild. Jin Mu offered Mu Deok to the soul shifter to feed off her energy and bind Jang Uk in a spell. Jang Uk managed to break free from the spell and ran to save Mu Deok. However, when he found her, the soul shifter was dead, and Mu Deok had absorbed his energy instead.


Who Is Jang Uk’s Final Opponent In The Duel?

Jang Uk sees Mu Deok sucking energy from the soul shifter and worries that she will also run wild. Mu Deok is also scared and tells Jang Uk not to come closer to her, or she will suck his energy as well. Nevertheless, Jang Uk hugs Mu Deok to calm her down. She doesn’t suck his energy, but another unusual thing happens. The roof of the constellation recorder room opens, and a bolt of lightning strikes the constellation basin. Mu Deok realizes that it is because of her energy that only activates in water, the constellation basin in this case. Everyone in Cheongbugwan hears the loud sound of the lightning falling, and Jin Mu heads over to the constellation building.

Mu Deok has been blinded by her energy, and Jang Uk needs to run away with her before Jin Mu finds them. He knows he cannot escape Cheonbugwan without being killed and has only one person who can help him. He pours his energy into the jade, and the prince feels the need to follow that energy as he has the other jade. Jin Mu finds Jang Uk even though they are hidden, but Uk has to hold him back until the prince arrives. Jang Uk lies to Jin Mu that he has hidden the jade in the soul shifter’s robe and that the prince will find him soon. Jin Mu rushes to the secret room and checks on Eunuch’s body and realizes that Jang Uk has fooled him.

The prince has already found Jang Uk, who has told him everything he has seen about the soul shifter. Jin Mu denies all of Jang Uk’s allegations, and the prince invites Park Jin for a discussion. Jang Uk tells him about the Eunuch who got petrified, but the queen brings the Eunuch with her, surprising Jang Uk. He understands that he has returned to life with the ice stone and that there is no way to defend himself now. He agrees that he lied, and Park Jin apologizes on behalf of Songrim and offers to reconstruct the Constellation Basin. Jin Mu asked him to leave Jang Uk behind for punishment, but thanks to Mu Deok’s plea to the prince, Jang Uk gets to go back to Songrim. Prince may look clueless, but he has become suspicious of Jin Mu.

Jang Uk has to receive punishment, and hence, Park Jin sends him home for some time. Master Lee has been having a chat with Maidservant Kim and asks her about Jang Gang’s friend Cho Chung and how he died. This reminds Kim to hold a memorial service for him as he doesn’t even have a grave. Jang Uk arrives home but doesn’t tell Kim the truth about why he’s back. Master Lee tells Jang Uk to go fishing with him, but he refuses, saying he needs to train. Master Lee tells Mu Deok about the golden fish and mastering Chisu, and that is enough for Mu Deok to pursue Jang Uk to go fishing with the master.

Maidservant Kim has held the memorial service for Cho Chung and his daughter Cho Yeong. Mu Deok helped Kim to prepare everything but didn’t know that it was for her father and her. She gets emotional and says to Kim that Cho would be thankful to her. Park Jin gets into a heated argument with Lady Jin as she has not been supporting Songrim lately, and he knows Jin Mu has been looking for Bu Yeon. Jin Mu has been receiving help from Bu Yeon’s father to create the fake Bu Yeon.

Seo Yul goes to Jang Uk’s home but sees Mu Deok crying in front of her own memorial service. He feels helpless as he can’t even tell her that he knows her truth. Jang Uk comes back from fishing, but Yul is running late. He tells Uk that he might return to the Seoho fortress soon as he has mastered Chisu, but he wants to take someone with him. Jang Uk thinks he is talking about Mu Deok as Master Lee told him about Yul’s story about Naksu being his first love. As expected, Yul has the intention of taking Mu Deok to his fortress with him. Yul has challenged Jang Uk to his last duel, but the prize is not a golden toad but Mu Deok. Uk didn’t expect his friend to go against him for Mu Deok and put him in a dilemma on whether to choose his friend or his lover.


Does Jang Uk Win The Bet Against The Prince?

The prince is jealous of Mu Deok and Jang Uk’s relationship and tries to provoke Mu Deok with the jade ornament. She says to the prince that the ornament is not important to her at all. Prince gets angry at her for using him to make her Young Master fight with the mages of Songrim and throws away the jade. Instead, he asks her to bet on something more important, and that would be her, who would go to any length for Jang Uk. If Jang Uk loses the duel, she has to serve the winner. Mu Deok agrees to the new bet as she knows Jang Uk has mastered Chisu and can win. However, Yul shocks everyone by being Uk’s opponent.

Seo Yul is the only mage in Jeonjingak who has mastered Chisu and is the first among his peers. He is not only intelligent but also a skilled fighter. That is why the prince requested him to fight with Uk. Yul only accepted the request because he wanted to separate Mu Deok and Uk. He fears that Jang Uk will create chaos in order to protect Mu Deok once her truth comes out. Yul wins the battle, but Jang Uk gives a tough fight and shocks everyone by using his Chisu skills. Mu Deok goes to Yul as promised, but he allows her to visit Jang Uk anytime. Uk is upset that Mu Deok didn’t visit him after the duel, but she cannot go to him shamelessly without finding the jade.

Jang Uk sees Mu Deok chatting with Yul and gets anxious again. He doesn’t understand if Mu Deok likes him or not. She is always smiling around Yul, and she is also Yul’s first love from Danhyanggok. After finding the jade, Mu Deok searches for Uk but sees him with Yun Ok and gets jealous. However, Jang Uk notices and calls her. She has just come back from arguing against other mages who spread rumors about Jang Uk out of jealousy. She asks Uk if he has become Master Lee’s pupil and has been practicing chastity. He hugs Mu Deok to prove that he is not, but Mu Deok says to him that he doesn’t see her as a woman and should embrace Yun Ok instead. Jang Uk kisses Mu Deok to prove that he sees her as a woman and that he has not been practicing chastity.

Yun Ok has been working in the palace and recommends the king meet the hemp master Lee to solve his problem of soul shifters. The king has been anxious and cannot sleep because of the possibility of having soul shifters inside the palace. The king has heard of the master and wants to see for himself how much power he holds and if he can do anything about the soul shifters. Master Lee accepts the king’s invitation and decides to visit the palace with Yul, Dang Gu, and Uk. He has a plan in his mind and asks Master Heo to send his gift to the king at the decided time.


‘Alchemy Of Souls’ Episode 14: Ending

Master Lee visits the king and gets straight to the point without engaging in futile conversation. The king praises Master Lee for his youthful looks, and the master reveals a shocking fact about himself. He tells the king that his soul is hundreds of years old, but his body is young because it is not his real body, and he is a soul shifter. He knows the king wants to find out if there is a soul shifter in the palace, and Master Lee promises to do so because he knows a soul shifter when he sees one. Jang Uk understands that the master knew that Mu Deok was a soul shifter.

For some reason, Master Lee didn’t expose Mu Deok’s identity, but Park Jin became suspicious of her. Mu Deok impressed Park Jin with her cleverness, which made him curious about her background. However, he finds her background story fake, and even when she confronts the man from her village who sold her, she trembles, and Park Jin catches on to her lie. The village man had told her to beware of So Yi, who had been looking for her, but Mu Deok didn’t know who she was. She visits the old man for more information but finds him dead. Park Jin reaches there at the same time and suspects her as a murderer. Will Mu Deok’s identity be out in the open? We will find out in the next week episodes of the series.


See More: ‘Alchemy Of Souls’ Episodes 11 & 12: Recap and Ending- What Happens To Mu-deok At Cheonbugwan?




Source link

Ductless Marketing Podcast Featuring Kyle Gargaro’s Interview with Ductless Directory Founder Michelle LaFrance Released


The Ductless Directory, based in Saint Paul, Minnesota, has announced the release of a podcast featuring an interview by Kyle Gargaro, editorial director for Air Conditioning, Heating & Refrigeration (ACHR) News, with Ductless Directory Founder Michelle LaFrance. Michelle is also a marketing consultant specializing in ductless technology. Naturally, the podcast focused on ductless technology and a strategy for effectively marketing it. For those who are interested, the podcast can be accessed here.

In the interview, Michelle LaFrance says, “With the ductless heat pump we finally have an exciting product, now there is an opportunity. And when was the last time something exciting happened in the HVAC industry? What I see happening is that finally here is this opportunity for an extraordinary product in the industry. It’s transforming the way people heat and cool their home. And yet it’s getting what I call vanilla-ized. It’s gets added as just another web page to an already busy website. It doesn’t get the recognition that it deserves.”

ductless marketing podcast

According to Michelle LaFrance, there are two things that every HVAC contractor needs to have: a meaningful message and an effective SEO strategy. However, she observes that most contractors often make use of ineffective SEO that doesn’t always get results and have simply a “me too” message. She further adds that it is vital to look at any website from the point of view of Google. She points out that they know how Google sees things and therefore, they have established a multi-platform website that dominates the local search results for ductless related terms for those ductless contractors who have purchased premium listings.

The result is that HVAC contractors who participate are able to notice an improvement in the search results for their company website. They also benefit from increased Google Map rankings and enjoy many other benefits when they participate. Michelle LaFrance has noted that ductless contractors often pay too much for their SEO and often don’t see results. It’s because there is a tendency amongst contractors to hire the same type of web companies that all do the same things. The Ductless Directory is a differentiator that elevates a contractor and can expand how many times they get found online. Even a basic listing from a highly relevant site can benefit a contractor. A basic listing begins at just $27 per month.

Michelle explains in the ductless marketing podcast how The Ductless Directory may be used to elevate the HVAC contractor. She points out that with even just the basic listing they gain 2 key things that Google looks for: a quality backlink from a highly relevant site and a high-quality citation that can help contractors get on more Google Map Listings.

Contractors can choose the level of benefits they receive from The Ductless Directory’s complete suite of services, including press releases, videos, and blog posts. The directory is currently serving California, Minnesota, Oregon, Missouri, Colorado, Indiana, Iowa, New York, and Massachusetts, and it can quickly add more locations to the areas it serves.

Michelle points out that they have a proven track record and can provide a valuable product that can help contractors learn how to get ductless leads. She explained in the interview that the Directory may be used to elevate the contractor through ductless digital marketing. She notes that contractors often miss the value of taking part in quality websites like The Ductless Directory. An important advantage of being a part of a directory is the creation of a high quality backlink to the contractor’s website. And because the directory has been established by a marketing and SEO company, it ranks high with Google. It was built from the ground up to rank on Google and it has been observed to do just that.

Michelle emphasizes that The Ductless Directory is the best SEO that ductless contractors would be able to take part in. She explains that this is because their company has 12 years of experience in marketing ductless. She adds that they created the directory not to sell leads but to provide a meaningful message and to support the HVAC industry. The directory is also designed to provide a trusted resource for the consumer, so that they can be sure that the directory is the logical place to turn to for a deeper understanding of ductless technology.

HVAC contractors who are interested in gaining a competitive edge using the ductless marketing strategy used by The Ductless Directory and learning more about how to get new ductless customers may want to check out their website, or contact them on the telephone or via email.

###

For more information about The Ductless Guy, contact the company here:

The Ductless Guy
Michelle LaFrance
(833) 568-9474
[email protected]
The Ductless Guy
Saint Paul, MN 55125



Source link

What You Need to Know About an online strategie specialist Job


What You Need to Know About an online strategie specialist Job

Are you searching for an online strategie specialist? If yes, then this article is ideal for you. This article contains crucial information regarding what the position entails, educational requirements, salary and work environment. The duties of an online strategie specialist will make your life simpler. Read more to learn more about this position. What to be looking for:

Position description

As the head of a company’s digital marketing department, https://onecommerce.nl/. The senior digital specialist is accountable for driving traffic through paid advertising as well as working with external and internal stakeholders to meet business goals. The responsibilities range from strategic planning and day-to-day strategies, from preparing and executing campaigns, to communicating benefits for clients. The job requires excellent communication skills as well as a vast knowledge in the field of digital marketing. The responsibilities and tasks of the job include delivering tangible results for the business in addition to providing thought leadership.

A description of the job of an internet marketing expert must contain specific descriptions of the duties and abilities required for the job. The individual should be knowledgeable about digital marketing and possess an understanding of strategies and the communication. Someone in this position must also be proficient in budgeting as they need to be able to maximize the budget that is allocated to the campaign. Alongside being knowledgeable about digital marketing, an online marketing expert will be able to design and implement a thorough strategy for the department of marketing that includes SEO and paid search strategies.

Educational requirements
For a position as an online strategist You must hold at minimum a bachelor’s degree in marketing or in a related area. After that, you have to pass an exam to show your expertise and skills. It is also possible to obtain a few certifications. The PCM, or the OMCP is required to be able to practice digital marketing. These certificates are recognized by a large number of people and could increase your chances of securing a great job. Additionally, the certificate can boost your chances of a successful career.

You can also opt for an online master’s degree that focuses on the digital strategy. The program will instruct you on the principles of digital strategy as well as how to create coherent plans for businesses. Learn to write engaging text, design and create effective branding and evaluate marketing strategies. The program usually has a capstone project. Additionally, you’ll take courses in the core and elective. Once you’ve completed your studies you’ll have the opportunity to build your career.

Salary
If you’re considering the field of online strategy You’ll find this information on salaries useful. Marketing strategy professionals have an average annual salary of $60,000 per year, and a marketing manager earns an average of $138,526 annually. They also carry out tasks including developing campaigns, executing them and evaluating their results. The median annual salary of an expert in marketing strategy is $59,770. The top 10% of the highest-paid have a salary of more than $72,000.

Digital marketing specialists is likely to be in charge of designing and implementing complicated strategies for marketing content. They will also supervise the development of custom marketing tools and make decisions informed by data analysis. They will also utilize the latest research findings to inform their work. Although New Jersey is known for its competitive salaries for marketing professionals, however, other states are not as competitive as New York. There’s no reason not to think about a career in the field of digital marketing.

Conclusion
Online marketing specialists definitely boost any business and companies are hiring them for exclusive packages, because they know investing on online marketing specialists will boost their business for long-term, but finding the right person is crucial in this field. If you are searching for hiring online marketing agency then you should consider contacting https://onecommerce.nl/laat-mij-je-helpen/.

shiva complex
rishikesh

Onecommerce is a digital marketing agency

This release was published on openPR.



Source link

Mayor Oh visits, praises Singapore’s public housing projects


Seoul Mayor Oh Se-hoon, center, visits the Marina One Residences in Singapore on Saturday afternoon. [SEOUL METROPOLITAN GOVERNMENT]

Seoul Mayor Oh Se-hoon, center, visits the Marina One Residences in Singapore on Saturday afternoon. [SEOUL METROPOLITAN GOVERNMENT]

 
SINGAPORE — Seoul may borrow a page from Singapore’s playbook by taking a more active role in the provision of housing.
 
Seoul Mayor Oh Se-hoon is on a seven-day trip to Singapore and Vietnam. It began on Saturday with a tour of Singapore’s public housing projects, including Kampung Admiralty, a public housing development targeting elderly residents, and Punggol town, an eco-town developed from a fishing village.
 
Oh, who is in his second term in office, made “accompanying the underprivileged” as his key slogan and aims to provide higher-quality homes for the socially marginalized group. The mayor has been publicly expressing deep interest in Singapore’s public housing.
 
Oh first visited the Housing and Development Board’s (HDB) My Nice Home Gallery, which is a showflat gallery where various HDB flat layouts can be found.  
 
Around 82 percent of Singaporeans live in apartments built by the HDB. At the same time, the mix of public and private is also distinctive — which goes in line with Oh’s emphasis on social integration, the city government said.
 
Oh showed particular interest in Prime Location Public Housing (PLH), which was first offered last year. It is a model to supply new public housing built in prime, central locations, like the city center, with affordable prices.
 
“The scheme of the PLH to create and supply public housing among expensive apartments for low-wage workers also goes in line with the policy direction of Seoul city,” the mayor said. “Seoul will also work to supply high-quality public houses in the city center and the station areas, and not the outskirts of the city, for newlywed couples, young people and rookies.”
 
Oh then headed to Singapore’s Kampung Admiralty experimental retirement village.
 
The flats, which are meant for the elderly, are the first-of-their-kind in the country. They integrate housing for the elderly with a wide range of social, healthcare and commercial facilities. They also allow older residents to live near their married children so they can visit and working parents can conveniently drop off their kids with their parents.
 
To cope with the social isolation problem, Oh unveiled his plans to supply a “Gold Village.” It is public housing for the elderly with healthcare and commercial facilities together. The city is reviewing a pilot housing project in the Seoul Innovation Park in northern Seoul and in in the Municipal Godeok Nursing Home in eastern Seoul.
 
“There’s a saying in the West that it’s best for parents and children to live in a distance that keeps soup warm,” the mayor said.
 
“In fact, Korea also has something like this, but it’s very luxurious,” he added. “I want to operate a pilot elderly-friendly town but that is affordable and reasonable, where people can live even if it is not they may not be rich.”
 
Another housing type to be adopted is a “three-generation flat” constructed utilizing a special residential layout, which allows for generations of families to live under the same roof while separating the living spaces. It will be built on a trial basis in the Hagye Apartment Complex 5 in northern Seoul, an area about to be redeveloped.
 
Oh released plans to greatly relax restrictions on the floor area ratio and zoning for the dilapidated Sewoon District in the heart of Seoul, possibly allowing the construction of towers higher than the 123-story Lotte World Tower.  
 
Oh announced the plan at the Marina One Residences in Singapore, and requested from the government a special act on multiple-purpose urban development, including a Seoul-type “white site” plot.
 
A white site in Singapore is a plot of land where a range of uses is allowed, such as for a combination of commercial, hotel, residential, sports and recreational spaces. The Marina One Residences is a white site.
 
“If it was subject to controls on the use and region, the aesthetically excellent design like the one we see today would never have been possible,” Oh said.  
 
“I hope a similar policy can be applied to places like Yongsan or Sewoon Redevelopment Promotion Area,” he added.
 
Mayor Oh recently announced that he would lift the floor-area ratio in Yongsan District’s former train maintenance depot site and promote it as a complex with residential, business and cultural functions. He is pushing for a similar plan in Sewoon Redevelopment Promotion Area in Jongno District, central Seoul.
 
Singapore’s white sites are similar to the “Beyond Zoning” policy proposed by the mayor in his general urban planning draft for 2040, which abolishes the distinction between residential, commercial, industrial and green areas. Yet Beyond Zoning is a broader concept than that of Singapore’s, the city government explained, as it eases height and floor-area ratios and encompasses the recognition of special cases in addition to the easing of the zoning regulations.
 
Such planning allows schools without playgrounds and high-rise vertical gardens to be created in one building, and houses and work offices to be built in the same building, making it possible to commute just by going up and down elevator.
 
“In order for Seoul to become a top-five global city, a mixed-use development that breaks the limits of the zoning like Singapore is imperative,” Oh noted.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]





Source link

🌱House Burns On N. Heliotrope Dr. + Man On Fisher Shoots At Deputies


Hello again, neighbors; today is National Mutt Day, which was founded in 2005 by Colleen Paige! It’s Sylvia, your host of the Daily. Let’s get this Sunday started off right, with a quick dive into everything you need to know about what’s happening around town.

A vacant structure caught fire early in the morning. Also, someone decided to shoot at deputies. Finally, a mountain biker was transported to the hospital by helicopter.


First, today’s weather:

Partly sunny. High: 87 Low: 66.

FYI: To locate a cooling center in Los Angeles, call 3-1-1, reach out to the Los Angeles Public Library Public Information Office at (213) 228-7555, or find your nearest location and its hours on the current list of county facilities.


🚗 Three Of The Cheapest Gas Stations In Los Angeles 🚗

💻 Back To School Poll!
The kids are going back to school soon. Should schools still take COVID precautions? Please let me know your thoughts! As of right now, 39.5% say the kids should just go back to school, 24.4% say that kids should wear masks, 32.6% want there to be distancing and sanitizing, while 3.5% prefer distance learning for the kids.


Here are the top five stories today in Los Angeles:

  1. The LAFD went to a vacant two-story home in the 500 block of North Heliotrope Drive just after 6:30 a.m. The two-story structure was on fire, but it only took 26 firefighters around 20 minutes to extinguish the blaze. There were no injuries. (The Eastsider LA)
  2. A man reportedly took shots at deputies in “the area of Fisher Street and North Marianna Avenue, near Esteban E. Torres High School” on Friday. Forty minutes later, the Los Angeles County Sheriff’s Department had set up a perimeter and searched for the alleged shooter. “By 6 p.m., NewsChopper4 captured footage of deputies arresting the suspected shooter.” (NBC)
  3. A mountain biker was rescued Saturday morning after sustaining an injury during his ride in Shadow Hills. The 30-year-old man was located at the La Tuna Foot Trail and taken by helicopter to the hospital. “He was hospitalized with non-life threatening injures, fire officials said.” (Patch)
  4. Discussions over the future of Juan Soto are reaching fever pitch. We learned on Saturday that “the Dodgers have been linked to the all-world outfielder.” However, it’s not a done deal. Other contenders are the Cardinals, Mariners, and Padres. Besides that, there’s a chance that the Washington Nationals general manager won’t want to let him go. (Dodgers Nation)
  5. Council member Kevin de León announced on Friday that he’s spearheading an effort to have the “United States Postal Service recognize Muhammad Ali with his own postage stamp.” Ali used to live in the city from 1979 to 1986. “He is an example of someone to follow, someone who is inspiring, who is motivated, aside from his athletic achievements,” de León explained. (Spectrum News 1)

Today in Los Angeles:

  • Family Amphitheater Performances, Dancing Storytellers, Indian Mythology & Me at the Skirball Cultural Center (11 a.m.)
  • Mike Birbiglia‘s The Old Man & The Pool at the Mark Taper Forum (1 p.m.)
  • YOLA National Festival Concert & Celebration in the Hall’s Main Auditorium (3:30 p.m.)
  • San Pedro Music Festival at the Warner Grand Theatre (4 p.m.)
  • Friendship Buddies Free Outdoor Comedy at the Verdugo Bar (8 p.m.)

From my notebook:

  • The city of Los Angeles is now accepting applications for a human resources assistant! Salary: $63,725 – $95,734 – Closes: August 11, 2022 (City of Los Angeles – Jobs via Instagram)
  • The Light of Learning can be seen in person when you visit the Central Library. Attend a guided tour with one of the wonderful docents for more historical facts about the building! (Los Angeles Public Library via Facebook)
  • A neighbor in the Beverly Grove North area lost a purple house key on a key ring with a green beetle, somewhere on Beverly between Orlando and the CVS at La Cienega. Did you find it? (Nextdoor)
  • An Elysian Valley neighbor needs a chiropractor to give a dog an adjustment. Is there anyone in Los Angeles, the Valley? (Nextdoor)
  • Music Mends Minds is looking for musical volunteers for in-person bands, who would like to make music and socialize together. It’s a nonprofit that creates musical support groups, bands and sing-a-longs for patients. (Patch Neighbor Posts)

More from our sponsors — thanks for supporting local news!

Featured businesses:

Events:

  • You’re invited to NFT Expoverse Los Angeles! 😎 25% OFF TICKETS (July 31)
  • [Free Masterclass] Increase Your Website Sales & Leads Using SEO (August 6)
  • Add your event

Job listings:

Other classifieds:


💛 Loving the Los Angeles Daily? Here are all the ways you can get more involved: 💛

  • Send a friend or neighbor this link, so they can subscribe
  • Get your local business listed in front of readers

You’re officially in the loop for today. See you all Tuesday morning for another update!

Sylvia Cochran

About me: Sylvia Cochran works out of sunny Southern California and has been freelance writing full-time since 2005. She loves dogs, cats, books, plays Best Fiends (don’t judge), embraces social justice, and tries to live out Micah 6:8.

Have a news tip or suggestion for an upcoming Los Angeles Daily? Contact me at losangeles@patch.com





Source link

Alchemy of Souls Episode 13 Recap and Review: An Escape, Some Fishing, and A Memorial Service


Alchemy of Souls (환혼) is a 2022 Korean fantasy drama which is set in the imaginary world of Daeho. The story revolves around young magicians who are to carry the burden of the past. Starring Lee Jae-wook, Jung So-min and Hwang Min-hyun, the show premiered on tvN on Jun 18, 2022. The show will have 20 episodes and it takes over tvN’s Saturday-Sunday 9 PM KST timeslot previously occupied by Our BluesAlchemy of Souls episode 13 has a runtime of 73 minutes.

Netflix describes the series as:

A POWERFUL SORCERESS IN A BLIND WOMAN’S BODY ENCOUNTERS A MAN FROM A PRESTIGIOUS FAMILY, WHO WANTS HER HELP TO CHANGE HIS DESTINY.

-Alchemy of Souls Episode 13 Recap contains spoilers-

Alchemy of Souls episode 13 begins with Heo Yeom trying to bring the soul shifter’s body to life while Seo Yul questions about it to Park Jin. However, he gets to know that this is only temporary and is being done to get some answers. Seo Yul is not ready to give up and brings up the ice stone which Park Jin agrees can control soul shifters from going wild, but it a power that shouldn’t exist.

In Cheonbugwan, Jin Mu looks at the energy from the soul ejector that is flowing out of a cauldron and tells his subordinate that this energy will go back to the sky so there is no need to worry about it. Suddenly, he remembers Jin Bu-yeon and wonders if she had tried to destroy the ice stone when the incident happened. He recalls her as a genius who could have had complete control of the ice stone.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

Elsewhere, Jang Uk notices the cloudy sky and moves away from Mu-deok, telling her that she is fine because she didn’t try to absorb his energy. Mu-deok also looks at the ceiling and tells him that the windows where not open. She then notices her hand that is in the water and concludes that her powers seem to come back each time there is water.

Also Read: Planning to Watch Prey? Here’s Everything You Need to Know About the Upcoming Sci-Fi Thriller

Suddenly, the lighting stikes the constellation basin and releases some dark energy particles which blind Mu-deok just like when she had entered the Mirror of Longing. But they don’t have the time to think about it as Jin Mu would be on his way to check on the lighting strike.

With no time and way to escape he devises a plan with the blue jade in his possession. Jin Mu is on his way and soon reaches the room but finds it empty with the body of the soul shifter left near the constellation basin. He soon gives the order to find and kill Jang Uk and his maid and goes on to look for him.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

He succeeds in finding Jang Uk but cannot kill him when the latter tells him about the yin-and-yang jade which he has hidden in the soul shifter’s body. The crown prince has reached Cheonbugwan and head towards the blue jade while Jin Mu goes to search the sould shifter’s body. However, he soon realises Jang Uk’s trick but is too late as the crown prince has already met him and told him everything.

The two question Jin Mu. Elsewhere, master Lee asks Kim Do-ju about Naksu’s father and gets to know that Jang Kang had left the house in search of the little girl. While she is sadenned by the events of the year, master Lee tells her that the little girl is already dead but might be lingering around Jang Uk. He then asks the whereabouts of Mu-deok.

Also Read: Pirate Gold of Adak Island to Indian Predator The Butcher of Delhi: Documentaries That Shocked People in July

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

Back in Cheonbugwan, Park Jin has come and gets to know of the events. The crown prince finds it unbelievable and Jin Mu refuses all the accusations, when the later asks which eunuch it was that turned into a soul shifter. The crown prince then orders to check if that eunuch is in the palace but stops when the queen herself comes to Cheonbugwan. They tell her about the eunuch but she laughs and says that he is with her.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

The eunuch enters and we get to know that the queen resurrected him with the ice stone. Jang Uk also realises that the ice stone must be with them and tells everyone that he lied. Everyone rebukes him and Park Jin tells them that Songrim will fix the constellation basin. Jin Mu tries to hold back Jang Uk in Cheonbugwan with the excuse of punishing him but Mu-deok cleverly helps him leave.

Jang Uk later tells Park Jin that he did not lie and that Cheonbugwan must have the ice stone. Park Jin believes him. Elsewhere, the queen and Jin Mu question the eunuch about what happened who tells them that his energy left his body when he tried to harm Mu-deok. They ask him if there was a powerful mage there but he denies. The eunuch then tries to run away with the ice stone inside him but is stopped by the queen who takes the ice stone back.

Also Read: Another Self Ending Explained: What New Problems the 3 Friends Face? Will There Be Season 2?

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

On the way back, Jang Uk tells Mu-deok that they should go to Danhyanggok but Mu-deok rejects the suggestion telling him that it is cold there. If they go there and it snows then they could get stuck there and starve to death. Jang Uk tells her that this is different from what she told Seo Yul, but she says that it was necessary then.

In Songrim, Park Jin tells Park Dang-gu and Seo Yul to go with the workers he will be sending to Cheonbugwan and keep an eye on Jin Mu. Later, Seo Yul follows Sang Ho and asks about the events that took place and Jang Uk’s attitude towards it. Upon hearing Sang Ho’s evaluation of Jang Uk, he is sure that Jang Uk is trying to get his hands on the ice stone for Mu-deok.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

Back on the bridge, Mu-deok tells Jang Uk that the two should never make a trip to Danhyanggok alone because she is scared that she will devour his energy. She tells him that it would more scary than anything else for her which makes Jang Uk’s heart flutter because this holds a deeper meaning than “I miss you” for him. He assures her that he will get the ice stone for her even if he has to fight Jin Mu so that she will never have to worry again.

Also Read: Uncoupled Ending Explained: Does Michael Finally Move On From Colin? Has Netflix Renewed the Show For Season 2?

Mu-deok then asks him how he was able to call the crown prince with the jade but he is reluctant to answer this question. Upon reaching home, he finds master Lee with Kim Do-ju who ask him why was he not at Songrim. He lies to Kim Do-ju saying that it was a vacation but reveals to master Lee that he was on probation because he destroyed the constellation basin. Mu-deok then tells master Lee that he can ask Park Jin to know more.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

As Jang Uk leaves to fetch some fishing rod for master Lee, the latter tells Mu-deok that he was planning on teaching Jang Uk to fish a Golden Fish which intrigues her. She then pushes Jang Uk to go fishing with master Lee. The next day they go fishing but Jang Uk finds it stupid, however, Mu-deok tells him that this is training to master Chisu which gets him to put his attention on fishing.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

Park Jin goes to Jinyowon to ask for a relic to find soul shifters, however, Jin Ho-kyung refuses his request indicating that she is siding with Jin Mu. Elsewhere, Jin Mu makies sure that So Yi has every scare and mole Jin Bu-yeon had so that nothing goes wrong when they take her to Jinyowon. In Jang family house, Kim Do-ju is preparing a memorial service for Naksu and her father which makes Mu-deok grateful to her.

Alchemy of Soul Episode 13 Ending

At the lake, Jang Uk is unable to catch a Golden Fish but master Lee tells him to be patient. Jang Uk asks master Lee the reason why he is helping him and if it has anything to do with his family which shocks master Lee until Jang Uk brings Kim Do-ju in the conversation. Elsewhere, Mu-deok is mourning for her father when Seo Yul sees her and feels guilty.

Also Read: Looking for Di4ries Soundtrack List? Here’s the List of Songs From the Netflix Series

Upon Jang Uk’s return, he tells him that he will need to go back to his father but will be taking someone with him. He doesn’t reveal a name but Jang Uk understands that he is talking about Mu-deok. Jang Uk tells Mu-deok that he will be returning to Songrim the next day.

Alchemy of Souls Episode 13 Recap
Alchemy of Souls Episode 13 Stills

The next day is Jang Uk’s final duel when the crown prince announces that the winner of the duel will not get the gold toad but Mu-deok as their maidservant. Jang Uk is shocked by this, but what surprises him even more is when Seo Yul steps up as his last contender which leaves everyone speechless.

Alchemy of Souls Episode 13 Review

The episode had a lot going on and while we want to get into the details of every little thing, we can’t. However, let us focus on a few things starting with how Jin Mu is making connections between Mu-deok and Jin Bu-yeon. This guy is smart and he knows things, but I guess the only reason he can’t complete the connection is because Mu-deok is not blind. But I am sure that he will find out something real soon.

This was also a very emotional episode for Naksu because she is able to properly mourn for her father, maybe this is why master Lee pointed the way to Kim Do-ju.

Let’s now talk about Jang Uk and how this guy is an actual genius. He is able to handle pressurising situations, train faster than anyone and is able to understand the person in front of him. He has definitely captured something from master Lee’s expression when he asked him if was being kind because of his family but chose to divert the topic.

And, our second male lead who is giving us major Second Lead Syndrome, I want to cry seeing him feeling so guilty about the past and his incapability of providing the woman he loves a shoulder to cry on. But taking part in this duel is his way of giving himself another shot at making things right. But we all know how things are going to end up.

What do you think about today’s episode? Let us know in the comments below!

Alchemy Of Souls is streaming on Netflix.

Check out all of the other Alchemy of Souls reviews here.

Also Read: Justice Served (2022) Ending Explained: Public Betrays Azania, Is He Captured? Will Netflix Renew the Show?

Follow us on Instagram & Facebook to keep yourself updated with the latest news and reviews.





Source link