WPP takes stake in Facebook measurement company
WPP Digital, the digital investment arm of WPP, is investing in a Facebook management system for brands and marketers.
It is taking a $5m (£3.14m) strategic investment in Buddy Media, a company based in New York.
WPP and Buddy Media will form a strategic partnership to develop improved measurement for brands seeking to build a presence on Facebook.
The collaboration will see the integration of the Buddy Media Platform with WPP’s suite of technology products and services and joint marketing of the solution to clients.
Facebook accounted for 55% of all of Britons’ visits to social networks in the past year, says Experian Hitwise.
WPP Digital has already invested in London-based eCommera and Los Angeles-based Ace Metrix this year.
The marketing communications company has released improved third quarter results showing reported revenues up 12%.
