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
- On-Air Creative / Creative Executive Discovery Communications Very Competitive with excellent benefits, London (West), London (Greater)
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- Digital Business Director Digital Gurus £55000 - £60000 Per Annum, London
- Senior Games Developer Digital Gurus £45000 - £60000 Per Annum Bonus + Benefits Available, Central London
- SENIOR CREATIVE Â– Integrated Agency Blue Skies Marketing Recruitment £32000 - £38000 per annum, Liverpool
- Coco de Mer launches X-rated ad with Rankin and TBWA
- Fallon introduces stuffed duck to launch Cadbury Puddles
- Betfair to call £15m European media review
- Dave Bedwood to leave M&C Saatchi
- Five black Pencils awarded at D&AD 2015
- Wonga rebrands as 'transparent and responsible' lender after hiring Fold7