ADOTAS – Buddy Media is just full of good news lately: two weeks ago it held a soiree at its new offices by Penn Station to celebrate a $23 million round of funding led by well-regarded Institutional Venture Partners. This week it’s partnering with the world’s largest communications services group.
To further WPP clients’ audience engagement efforts on Facebook, CEO Sir Martin Sorell himself announced during a third quarter trading update conference call this morning that Buddy Media’s platform is being integrated into WPP’s technology products and services. In addition, WPP is making a $5 million cash investment in the company, which will be added on to the latest round of funding for a total of $28 million.
During the first year of the partnership, WPP agencies will receive training on how to best employ the Buddy Media Platform in maximizing client presence on Facebook. In addition, the two operations will develop new products and social applications for WPP’s clients exclusively.
Buddy Media has boasted 15% month-over-month growth throughout 2010 and seven of the 10 largest global advertisers are currently using the platform. In addition, brands and agencies using the platform tripled from 100 to 300 since the start of this year.