WPP acquires stake in VideoEgg
WPP said it has acquired a stake in VideoEgg, a San Francisco company that offers Web sites video services and a way to run advertising within those videos.
See the statement here. The size of the stake WPP received for its $3.5 million investment was undislosed. Reports simply refer to the purchase of gross assets, the value of which is $3.5 million.
VideoEgg raised $12 million in a third round of capital last year, from investors including Maveron LLC, August Capital and First Round Capital.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
