Droga5 Adds Two+ Investors: Silverman, Pittman, Others
On the heels of Strawberry Frog's sales of a stake to APCO Worldwide, another new age agency announced a "strategic investment:" Droga5 said it sold an undisclosed stake to a group led by Henry Silverman that includes Bob Pittman and others. Terms of the transaction were not disclosed.
Droga5, which was formed in 2006 by former Publicis Groupe Chief Creative Officer David Droga calls itself a "creative and strategic agency," and works for clients including Puma, Coca-Cola, Prudential, Kraft Foods, Microsoft, Hennessy, Unilever, and Amstel Light, among others.
The agency also happens to be great at generating press coverage and industry buzz for itself, though it's sometimes difficult to understand exactly what it does.
Whatever it does, it said the new investment will enable it to "further expand" its New York operations, and to "invest in owned properties," as well as a possible global expansion, "most likely in London."
The investment will allow Droga5 to further expand its New York operations, invest in owned properties, and also explore global expansion, most likely in London.
"We couldn't ask for smarter or more supportive partners," stated David Droga, adding, "As an innovative, creative agency, it is our responsibility to ourselves and our clients that we explore and invest in opportunities over the horizon."