WPP has taken a
stake in Muzy Inc., an early-stage micro-blogging service focused on mobile content creation, the holding company confirmed Tuesday.
It’s the second investment in a startup that WPP
has confirmed this week through its WPP Ventures unit, based in Silicon Valley. Earlier, the company said it was participating in an estimated $30 million round of funding for digital content firm
Fullscreen along with Comcast and the Chernin Group.
Muzy has attracted over 20 million users globally and is adding more than 1 million new users each month, according to WPP.
Headquartered in San Francisco, Muzy was launched in 2011 by its cofounders CEO Andrew Chen and Chief Technology Officer Matt Rubens. The startup currently employs less than 10 people.
The holding company said that Muzy will use the investment proceeds to bulk up the engineering team and build out the suite of creative publishing tools for the Muzy platform. It already offers more
than 50 mobile publishing tools and a global network for sharing content. It is also a Top 100 photo app in 70 countries, per the holding company.
According to WPP, the investment furthers
its “strategy of strengthening the group’s capabilities in digital media and faster-growing sectors.”
WPP's digital revenues totaled more than $5 billion in 2012 and
represented 33% of total group revenues of $16.5 billion. The holding company is targeting 35% to 40% of revenues for digital in the next five years.