Buddy Media Gets $5M from WPP, Grows Partner Strategy around Facebook Ads
WPP is making a $5 million cash investment into Buddy Media, as part of a strategic partnership towards the future of social media marketing. The deal will make things a whole lot easier for WPP, in extending Buddy Media’s services to existing clients.
It’s because Buddy Media is such a prominent advertiser on Facebook, that the network has become so attractive to WPP. Buddy Media’s platform will be integrated into WPP’s suite of technology products and services, by proxy making a direct gateway to Facebook’s own marketing capabilities It’s nice to have a marketing juggernaut in your back pocket.
“It’s clear that Facebook relationships work best when they’re an extension of an authentic relationship, which in the case of brands includes a wide range of communication channels and experiences,” said Michael Lazerow, Chairman and CEO Buddy Media.
“We’re excited to be working with a company of the scope and caliber of WPP to help our many shared clients develop their Facebook presences as part of the wider marketing mix. As the world’s largest communications services group with over 140,000 people in 2,400 offices in 107 countries, WPP can be an important part of accelerating our business.”
That puts WPP and Buddy Media in a better position for global growth, which will step into the mobile realm as well. Buddy Media’s been an early successor of the Facebook platform, having raised $23 million in Series C funding prior to WPP’s involvement.
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