INSTAGRAM TO CREATE MARKETPLACE FOR INFLUENCERS DEALS

Facebook Inc.’s Instagram is creating a marketplace so brands can connect with influencers they may want to pay to promote their products. Facebook chief executive Mark Zuckerberg and Instagram head Adam Mosseri announced the new marketplace Tuesday. “Branded content is the economic engine behind the creator ecosystem,” Mosseri said. “Matchmaking is something we can add a lot of value for.” The company hasn’t released details on how the marketplace will work. It’s part of a suite of initiatives to try to help people make money on Instagram, the photo and video-sharing app, through divvying up revenue for videos, tipping and other means. Instagram prioritized such moves during the coronavirus pandemic, when people were turning to the app as an alternative to in-person entertainment and business.