VideoEgg, the leading video solution ad network, receives investment from WPP
19 April, 2007
VideoEgg, Inc., the leading video solution and video ad network for online communities, today announced a strategic investment from WPP (NASDAQ:WPPGY), one of the world's leading communications services groups. WPP's decision to invest is a reflection of social video’s growing role in the communications landscape and VideoEgg's leadership in defining ways of integrating brands into the medium.
"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," said Mark Read, CEO WPP Digital. "We are excited to bring together VideoEgg with our operating companies to create new opportunities for our clients."
Rob Norman, CEO GroupM Interaction, WPP’s investment arm, added: "Our partnership with VideoEgg not only provides a more focused way for our clients to participate in the growing world of social networks and user generated content, but also provides our operating companies a keen understanding of the forces reshaping the media world."
"WPP and GroupM recognize the impact of user generated video within online communities and the opportunity to reach this captive audience," said Matt Sanchez, CEO and co-founder of VideoEgg, Inc. "As consumers move online for entertainment, it is imperative for marketers to leverage new forms of advertising to communicate with them in creative, but unobtrusive ways. Together with WPP and GroupM VideoEgg can provide marketers with unparalleled means of reaching their audiences."
VideoEgg's ad network, The Eggnetwork, enables advertisers to navigate a rapidly changing media environment and was created to connect them with social networks. An invitation-based advertising model integrates any interactive content into the video viewing experience while putting the users' interests first. These invitations are included in visible but unobtrusive ways, both during the play and at the end of each video. The Eggnetwork includes more than 60 leading social networks with more than 15 million monthly uniques and as many as 20 million streams each day.
WPP joins existing VideoEgg investors Maveron, August Capital and First Round Capital.
About VideoEgg, Inc.
VideoEgg is the leading video solution for online communities. The company’s ad network, The Eggnetwork, is currently comprised of more than 60 online communities including five of the top 20 social networks in the world such as AOL, Bebo, hi5, myYearbook.com and Tagged. The Eggnetwork provides Web publishers with a means of monetizing content while offering advertisers reach into a coveted audience. Through a unique advertising model, ads are targeted, interactive and unobtrusive for viewers. VideoEgg was founded in 2005 by Yale classmates David Lerman, Matt Sanchez and Kevin Sladek. Based in San-Francisco, the company is funded by August Capital, First Round Capital and Maveron. For more information, visit www.videoegg.com.
WPP (NASDAQ: WPPGY) is one of the world's leading communications services groups, providing national, multinational and global clients with advertising; media investment management; information, insight & consultancy; public relations & public affairs; branding & identity, healthcare and specialist communications. WPP's worldwide companies include JWT, Ogilvy & Mather Worldwide, Y&R, Grey Worldwide, The Voluntarily United Group of Creative Agencies, MindShare, Mediaedge:cia, MediaCom, Millward Brown, Research International, KMR Group, OgilvyOne Worldwide, Wunderman, Hill & Knowlton, Ogilvy Public Relations Worldwide, Burson-Marsteller, Cohn & Wolfe, CommonHealth, Sudler & Hennessey, Ogilvy Healthworld, Grey Healthcare Group, Enterprise IG, Landor, Fitch and G2 among others. WPP companies provide communications services to clients worldwide including more than 300 of the Fortune Global 500; over one-half of the NASDAQ 100 and over 30 of the Fortune e-50. Collectively, WPP employs 98,000 people in over 2,000 offices in 106 countries.
GroupM, the world’s leading full service media investment management operation, was created by WPP to oversee its assets in this sector. These assets include Mediaedge:cia, MindShare, MediaCom and MAXUS. The focus of GroupM is the intelligent application of volume and scale in trading, innovation and quality of services, in order to bring benefit to clients and the companies it operates. For further information, visit www.groupm.com.
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