WPP buys $7m stake in Mysupermarket.com
By Emma Powell, campaignlive.co.uk, Thursday, 19 April 2012 12:15PM
WPP Digital has invested $7m (£4.3m) in a minority stake in Dolphin Software, owner of Mysupermarket.com, as part of the group's ongoing investment in digitally-led operations.
The acquisition of Mysupermarket.com comes as WPP pursues a target of 35% to 40% of revenue to be derived from its digital assets – which include Wunderman, OgilvyOne and VML – within the next five years.
The stake is believed to form the lion's share of a $10m (£6.2m) round of funding for Dolphin Software, which also includes participation from existing investors Greylock and Pitango.
Mysupermarket.com employs 70 people and has offices in New York, London, Tel Aviv and Tokyo, with principal operations in New York.
Founded in 2006, the company operates a shopping site that allows customers to compare shopping baskets and buy from the major UK online grocery, and health and beauty retailers.
This article was first published on campaignlive.co.uk
- Client Associate - London Adam Recruitment £20000 - £30000 per annum, City of London
- Integrated Media Planner Adam Recruitment £50000 - £60000 per annum, City of London
- Senior Account Manager AF Selection £30000 - £35000 per annum, Preston
- Comms Manager-Entertainment Account- Worldwide media agency Ultimate Asset £25000 - £26000 per annum, London
- Head Of Communications - PR and Digital Ball & Hoolahan £80,000 p.a., London (Greater)
- Will.i.am clashes with Martin Sorrell over online ads in Cannes
- Black horse returns in new Lloyds Bank campaign
- Martin Sorrell on the mega-media reviews: 'We can't remember anything like this'
- Geometry Dubai hands over Cannes Grand Prix amid controversy
- Aston Martin appoints WPP to global marketing account
- Ogilvy & Mather's radio work for Dove 'reduces Cannes jury to tears'