WPP expands into social networks with VideoEgg investment

WPP Group has announced a strategic investment in VideoEgg, a US-based online video solutions and advertising network. The deal aims to boost WPP’s involvement with social networks and help its clients reach younger audiences.

The Eggnetwork, the company’s ad network, is an invitation-based model that integrates interactive content into video streaming online and connects advertisers to 60 leading social networks with more than 12 million unique users a month.

Mar Read, WPP Digital, chief executive says: “Our clients want to understand how to use online communities to build brands and communicate with consumers, particularly younger consumers, who are spending time in these communities. VideoEgg has built significant distribution and created innovative advertising solutions to reach this audience.”

WPP joins existing VideoEgg investors Maveron, August Capital and First Round Capital. VideoEgg was founded in 2005 by Yale graduates David Lerman, Matt Sanchez and Kevin Sladek.

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