WPP is participating in a
round of funding for startup digital content firm Fullscreen, the holding company confirmed Monday.
Fullscreen was founded in 2011 by CEO George Strompolos to help video producers manage
their presence on YouTube. According to WPP, Fullscreen’s global network now generates over 2.5 billion monthly video views and reaches over 150 million subscribers.
investment is part of a bigger funding round that also included cable giant and NBC owner Comcast and the Chernin Group. The total investment for the round is estimated at $30 million, according to
All Things D,
which earlier reported that the investment was being put together.
WPP said Fullscreen would use the funds for domestic and international expansion, including
the development of content, technology and sales. Internationally, Fullscreen will focus on rapidly growing markets including Brazil, India and Russia.
For WPP, the funding is the latest in
a series of investments the company has made over the years in marketing and technology-focused startups such as Buddy Media, Say Media, JumpTap and Invidi Technologies.
investment in Buddy Media paid off handsomely last year. The company was acquired by Salesforce.com in 2012 for nearly $690 million. WPP reported that it made approximately $50 million on an initial
estimated $5 million investment in the firm.
WPP’s participation in the Fullscreen round of funding was orchestrated by WPP Ventures, a unit of the holding company that is located in
California’s Silicon Valley and run by Tom Bedecarre, who is also chairman of AKQA. The ventures unit focuses on new digital startups that can present strategic opportunities for WPP operations.