NEWS30 June 2016
US – Silicon Valley-based WPP Ventures has made a strategic investment in digital media company, All Def Digital, founded by hip-hop entrepreneur, Russell Simmons.
WPP’s investment was part of $10 million raised by All Def Digital (ADD) in Series B funding led by Third Wave Digital Partners.
ADD was set up by Simmons in 2013 and employs 35 people in Los Angeles, US.
It produces and distributes music and content tailored for urban youth culture and distributes this content through its own media properties, social media channels, traditional and premium television, cinemas and live events.
ADD works with advertisers through an in-house creative advertising agency and has its own record label through a partnership with Universal Music Group. It is the fastest growing media brand in urban youth programming, reaching more than 100 million fans monthly across YouTube and Facebook.
WPP Ventures invests in new technology companies offering innovative solutions to WPP clients. The value of its investment was not revealed but fits with WPP’s strategy of focusing on technology, data and content.
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