WPP is continuing on its digital media investments: WPP Digital (the group’s digital division) has made an investment in NYC-based online video sharing tools firm VideoEgg. The amount was not disclosed.
WPP’s decision is based on use of VideoEgg’s tools as a way of integrating brands into the medium. Besides VideoEgg’s video uploading, editing and sharing tools, it recently launched an ad network, The Eggnetwork.
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. More details in release.