WPP makes strategic investment in WildTangent
15 August, 2006
WildTangent, the leading Online Game Publisher today announces a new strategic investment from WPP (NASDAQ: WPPGY) one of the world’s leading communications services groups. The investment by WPP, recognizes the development of online video games as an increasingly important communications platform for marketers, and the leading role that in-and-around video game advertising pioneer WIldTangent plays in this emerging medium.
WPP’s investment in WildTangent will enhance its global client roster’s ability to tap into the WildTangent Game Network (WGN), a video game advertising network that includes hundreds of popular online and downloadable games from WildTangent’s own studios in addition to titles from top publishers like Sony Pictures Digital, Nickelodeon, The Walt Disney Internet Group, and other leading online game developers.
In the past year, WildTangent has successfully worked with WPP agencies on gaming initiatives with key clients such as Novartis and Unilever. Going forward the two companies also plan to collaborate on market development initiatives aimed at creating research driven standards for advertising in and around games.
"Our clients are increasingly looking for ways to reach their customers online, particularly the harder to reach young adult demographic, and in-game advertising is of growing interest. WildTangent's strong track record in game distribution and advertising makes them an attractive partner for us and for our clients." said Mark Read, Director of Strategy and CEO of WPP.com.”
“We’ve been delivering leading edge online game campaigns for the biggest brands for several years and we’re pleased to be recognized for our leadership in this space by WPP .” said Alex St. John, CEO and Co-Founder of WildTangent. “We’ve had a great relationship with WPP and their agencies over the years and we’re very excited to establish a partnership to dramatically grow the in-game advertising business together.”
Granite Global Ventures (GGV) led the expansion round, which included existing investors Advanced Technology Ventures, Greylock, Madronna, Millenium Technology and IDG. GGV has investments in mobile game publisher Glu Mobile and XFire, an instant messenger application for gamers, recently purchased by MTV Networks, a division of Viacom (NYSE: VIA.B).
WildTangent publishes its games through a virtual console that is bundled with over 85% of all consumer PCs, or over 25 million PC’s sold annually, in North America alone.