WPP invests $5m in Facebook marketing platform Buddy Media
By Ben Bold, campaignlive.co.uk, Friday, 29 October 2010 11:45AM
WPP Digital is investing $5m (£3.14m) into Buddy Media, a Facebook management system used by some of the world's leading brands.
The aim of the strategic partnership is to allow WPP to improve its clients' engagement with Facebook users.
WPP's investment will enable it to incorporate Buddy Media's platform into its technological products, so that brands can easily integrate Facebook-targeted marketing into their campaigns and monitor their effectiveness.
The deal also includes training in the use of the system for WPP agency staff.
Mark Read, WPP Digital's chief executive, said: "As Facebook has surpassed the half-billion-users milestone, and is effectively the third largest country in the world, it is no longer a matter of if brands should have a presence on Facebook, but how they can be successful."
"In the same way that brands have software for managing websites and search campaigns globally, it is also now appropriate that we have software that will help manage the fastest growing communication medium of all time, Facebook."
The $5m investment is additional to the company's recent Series C fundraising of $23m.
This article was first published on campaignlive.co.uk
- Affiliates Executive - No. 1 Agency! GoodEgg Digital Circa £25k + Exceptional Benefits, Central London
- Digital Display Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- Client Director Aspire £50000.00 - £100000.00 per annum, London
- PR Account Executive- Restaurants Blue Skies Marketing Recruitment £18000 - £21000 per annum, London
- Philips launches campaign for app-controlled lightbulbs
- Sorrell warns of Scotland becoming an 'outlier' and the UK 'diminished' by a Yes vote
- Publicis boss Maurice Lévy to step down in 2017 amid board shake-up
- Sometimes collaboration, not innovation, can be the key to winning campaigns
- Virgin Trains spends £8 million on advertising to refocus on its brand
- WPP challenges Govt review