WPP has acquired a stake in New York-based 88rising, a U.S.-based producer of digital content catering to the Asian Millennial market. Terms of the investment were not disclosed.
88rising, founded in 2015, has branded and sponsored content deals with companies such as adidas, Maybelline and Revolve -- the latter an online fashion and cosmetics retailer.
In addition to its
New York headquarters, the firm has an office in Los Angeles, with plans to open a location in Shanghai.
To date, 88rising has produced over 500 hours of original content that has generated over 80 million total video views on Facebook and YouTube. More than half of 88rising’s 16- to-34-year-old viewers are in the Asia-Pacific region.
The deal is WPP’s latest investment in a content company, a key part of its investment strategy. The Group has invested in multiple specialized digital content companies like Russell Simmons' All Def Digital, and Refinery29, the fashion and lifestyle media company that targets Millennial women.
WPP has also invested in Millennial male-focused Woven Digital, and Mitú, which develops content for Latino youth, as well as in Fullscreen, Indigenous Media, Imagina (a content rights and media company based in Spain), MRC and VICE.