Cohere's splashy branding play
Will millennials drink 6% milk, Tastet touches down in Toronto.
Good afternoon everyone.
Almost every day since this newsletter’s launch about a month ago, I’ve heard from so many people who have continued conversations, rekindled connections, or are even now working or collaborating with someone they met that night.
My definition of a great event is now one that lives beyond the calendar hold—in the form of friendly or working (and even romantic) relationships. That said, if you have ideas for a summer reader event, let me know by replying to this email.
Milk Bag covers the business stories you won’t find on Apple News. If you have a story tip or want to work together, email me.
Cohere, a leading Canadian private AI company recently valued at $7 billion, has bought the naming rights for the largest exhibition centre in the nation’s capital.
This week, the space formerly known as the EY Centre, which spans the size of nearly four football fields, will be renamed to the Cohere Centre. The Globe’s Joe Castaldo notes this is only the most recent in a string of splashy branding moves.
In February, the company signed on Magnus Carlsen, five-time World Chess Champion and number one rated player in the world, as a brand ambassador
And a recent technology partnership with Aston Martin Aramco will bring Cohere’s logo to cars in Canada’s only F1 race in Montreal later this month.
If you pull up the centre’s events calendar—a Hyrox competition, Estée Lauder Warehouse Sale—you might have questions. But another event, a notable defence and security trade show also happening there later this month, is your answer.
Why it’s happening
As a company selling to large businesses and governments, Cohere doesn’t have the brand awareness that competitors Anthropic and OpenAI have unlocked with trendy consumer-facing chatbots. Familiarity breeds trust, which breeds adoption.
But instead of taking over a stadium, they’re showing up on a building the minister of national defence is passing every time he goes to the airport.
The big picture
What’s interesting is how they’re still using consumer-style branding tactics to stay top of mind for what, I’d guess, is a group of maybe a few hundred people that have decision-makinh power at government agencies and large companies.
Further reading
—As the AI race heats up, so does the battle for eyeballs (The Globe and Mail)
—As Formula One evolves, AI becomes part of the race (Reuters)
—Google and Microsoft offer lucrative deals to promote AI (CNBC)
SKIM THIS
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