Global advertising giant WPP has made two investments in the digital media space on a single day. WPP Digital (the group’s digital division) has made an undisclosed strategic investment in the US-based JumpTap, a mobile search and advertising company (see release). WPP joins JumpTap’s existing investors such as General Catalyst, Redpoint Ventures, BCE Capital and Valhalla Partners. According to media reports, Martin Sorrel’s company has picked up 2.5 per cent in JumpTap which has clients like Virgin Mobile USA. The acquisition will give WPP companies access to mobile search and advertising solutions, and the two will jointly develop new techniques to target and profile customers via the mobile phone.
In a related development, WPP said its unit GroupM has acquired Reddion BV, a Dutch digital media and marketing company. Reddion had a turnover of 2.2 million euros for the year ended Dec 31 2005. No financial details were disclosed. Reddion was founded in 1998.
WPP had earlier invested in TV-internet advertising agency Spot Runner and online game publisher Wild Tangent.