Social media advertising agency Mr Youth has secured its first round of funding. Alta Communications and The Mustang Group, two private equity firms, invested an undisclosed amount in the N.Y.-based firm. The funding comes with a senior leadership change, as co-founder Matt Britton has been promoted to CEO; he previously oversaw sales and marketing. Former CEO Paul Tedeschi, also a co-founder, is leaving the agency.
Mr Youth will use the investment to expand RepNation, its “word-of-mouth” network that pairs interested users with promotions from brands like JetBlue, Ford and *Microsoft*. Members sign up and earn prizes, cash and other perks for setting up and participating in offline marketing efforts. The company was founded in 2002.