Buddy Media, which scored a $23 million funding round earlier this month, has raised an additional $5 million from WPP Digital. The investment is the basis of a global partnership between WPP Group and Buddy Media, which helps companies manage their marketing presence on Facebook.
In a statement, Mike Lazerow, Buddy Media’s chairman and CEO said that given WPP’s 140,000 people in 2,400 offices in 107 countries, said he expects the arrangement to grow his company’s business rapidly.
As part of their new partnership, Buddy Media and WPP will develop a set of new products apps exclusively for the ad holding company’s clients. WPP will also get complete access to Buddy Media’s software, which is geared solely for Facebook marketing.
“As Facebook has surpassed the ‘half-billion-users’ milestone, and is effectively the third largest country in the world, it is no longer a matter of ‘if’ brands should have a presence on Facebook, but ‘how’ they can be successful,” said Mark Read, CEO of WPP Digital, in a statement.
Buddy Media already has existing relationships with WPP shops, which include JWT, Ogilvy Group, Young & Rubicam and media buying unit Group M, Lazerow said in an e-mail. In addition to WPP, though, Buddy Media has “hundreds of agencies globally and will continue to do so. We pride ourselves on being a friend to agencies including but not limited to WPP agencies,” he said.