Mitch Joel Explains Why He Sold Twist Image to WPP

In a lengthy blog post, Mitch Joel explains why he and his partners decided their agency, Twist Image, should become part of the WPP family. On whether or not the acquisition is a good thing, Joel writes: "No. It's THE BEST thing. We are thrilled about this opportunity. We are excited about what the future holds. We are confident and excited that we will be able to better serve our existing clients. Plus, and this is selfish, I want to grow as well (and I know that my three other business partners feel the same way that I do). WPP employs over 175,000 employees in 3000 offices in 110 countries. They have deep strategic relationships with Facebook, Adobe, Twitter and more. They own agencies as diverse as AKQA, JWT, Mindshare and more. There are a ton of smart people who are a part of the WPP family. Access like that can't be understated." And of everyone asking him how much WPP paid, Joel writes: "Really? I'm actually shocked that people have asked me this question. You may be shocked to know that it gets asked often. How much money do you make? What's your salary? Maybe I come from a different generation, but these are not the types of questions I have ever asked anybody. It seems rude to ask (maybe it's just me)."

Havas posted a 3% rise in first-quarter organic revenue which they attribute to growth with client wins such as satellite TV company Dish and insurer Liberty Mutual. Revenue stood at $539.87 million with Europe, North America and Asia all contributing. Analysts had been expecting organic growth of 2.3 percent to 2.5 percent for the quarter, so things are looking up for Havas.

Airbnb is adding some muscle to its marketing team with the addition of Jonathan Mildenhall, who is leaving Coke to become the rental marketplace's chief marketing officer. Mildenhall brings deep experience to Airbnb, having worked on JetBlue, Old Navy and Hyatt, among others. Mildenhall will replace Amy Curtis-McIntyre, who is leaving Airbnb to travel and spend more time with her family. It seems Mildenhall exited Coke just in time, as the brand is undergoing a bit of a marketing shakeup with several top management shifts.

Brand experience agency Jack Morton Worldwide is acquiring Genuine Interactive -- a digital, mobile and social firm in Boston -- to, as the press release gushes, "give it unmatched capabilities to seamlessly connect clients with consumers." Yeesh. Anyway, of the deal, Jack Morton Chairman and CEO Josh McCall said: “We’re building the agency for now and fulfilling our clients’ need for experiences that reach people at every touchpoint. Adding digital, social and mobile to live brand experiences isn’t an option anymore; it’s required and expected. Although we’ve been on this path for quite a while, we need to continue to evolve and grow digital, social and mobile on a larger scale. Genuine Interactive is the perfect partner to help us expand this vision of a digitally enabled brand experience agency, and allows us to create a powerhouse of two incredibly talented and creative teams.” Okay.

Recommend (3) Print RSS
1 comment about "Mitch Joel Explains Why He Sold Twist Image to WPP".
  1. Brandon Lewin from Cardinal Path , May 8, 2014 at 5:06 p.m.
    There is nothing wrong with Twist Image joining WPP. When a smaller firm joins a large firm there are a ton of perks. It will open the door to huge opportunities. I'm sure Joel worked it out that he and his partners will maintain control of the direction of the agency. That is the biggest concern in this type of merger. Will the vision and mission stay the same? Or will Corporate America take over? As far as how much they were paid for the acquisition...that's all people are worried about nowadays. Money, money, money. I agree with Joel's old school mentality. However, curiosity does kick in. It would be interesting to see how much a large corporation like WPP values an unique firm like Twist Image. The real reason Joel doesn't want to share the figure is because he is afraid of all his long lost family members coming out of the cracks to hit him up for a "loan." Welcome to the world of professional athletes and professional entertainers, Mitch Joel. You should feel honored.
  • McKinney CCO Oversimplifies, Publicis CEO Over-Complicates And Saatchi & Saatchi China Thinks Its Employees Are Wasteful

    Hmm. McKinney Chief Creative Officer Jonathon Cude said: "Only two things matter: The work and the people who do it. It's that simple and it's that hard." But Publicis Worldwide CEO Arthur Sadoun says: “The only thing that really matters today for us is to understand how technology is impacting the business ...
  • This Guy Argues Doing Crowdsource Work Could Land You Your Dream Agency Job

    Asad Khan, Founder and CEO of creative crowdsourcing platform CopyShoppy, thinks crowdsourcing is awesome. And why wouldn't he? After all, that's what his company does. Well, he's out with a five-point argument entitled 5 Myths About Crowdsourcing Creative Work that explains why there's nothing wrong with the advertising community embracing ...
  • Michael Roth: If It Were Up to Martin Sorrell, There Would be One Holding Company

    So Dentsu would like to make it known that it's not looking to make acquisitions in the digital space. Hmm. Of the mindset, Dentsu Aegis Network Chairman Tim Andree, speaking at the annual Morgan Stanley Technology, Media and Telecoms Conference in Barcelona, said: "Acquisitions are not a strategy in and ...
  • Are Ad Agency Employees the Biggest "Empty Labor" Slackers?

    Well, well, well. Is an ad agency one of the places where workers waste the most amount of time engaging in "empty labor"? In a new book, Lund University Sociologist Roland Paulsen examines the notion of empty labor interviewing people from various industries. Paulsen found, on average, that employees across ...
  • President Obama Surprises Australian Ad Man By Using His 29-Year-Old Tagline In Speech

    Australian ad man Tim Bond is happy. Really, really happy. In 1985 Bond was working for D'Arcy MacManus and Masius and was asked to come up with a tagline for Queensland. He thought about the task for ten weeks. And out came "Beautiful one day, perfect the next." It became ...
  • This Creative Brief Was Delivered With Oculus Rift and A Treadmill

    Talk about an all-inclusive, complete brief! As part of its annual Creative Press Challenge, Dutch newspaper Persgroep briefed 110 creatives on the Iranian refugee situation for the charity group UAF by immersing them in the very issue they would be assigned to tackle. How? By using the virtual reality technology ...
  • Leo Burnett Employees Do Shots And Slap Each Other In The Face To Improve Creativity

    What's an ad agency to do when it's had enough bad ideas and it simply can't take it any longer? It invites their employees to do shots and slap each other in the face, of course! As part of its participation in Strategy Magazine's Agency of the Year event in ...
  • GSD&M Leads Movember Agency Challenge With Crazy Spanish Telenovela

    Doing its part for Movember, GSD&M -- along with its MoPack Movember team -- is helping to spread the word about men's health with the launch of...wait for it...a Spanish telenovela. Yeah, that makes a lot of sense, right? But, hey, GSD&M is an ad agency and ad agencies just ...
  • Fallon 'Winternship' Program to Clothe, House, Transport, Entertain 8 Lucky Interns

    Well, of course they are! After all, who'd want to intern at an agency in freezing cold Minnesota when they could work in the warm confines of Manhattan? Oh, wait. Anyway, Fallon Minneapolis has launched an intern program called Wintern. In order to lure interns into the program, the agency ...
  • Leo Burnett Tops List of Adoption-Friendly Workplaces

    Well, there's a list for everything, right? Why not one for the best workplaces with adoption-friendly policies? Yeah, why not? Well the Dave Thomas Foundation for Adoption has awarded Leo Burnett the top spot on its 2014 list of the top adoption-friendly workplaces in advertising, marketing and public relations followed ...
>> MAD Archives