WPP makes strategic investment in JumpTap, leaders in mobile search and advertising
This investment will provide clients of WPP companies, collectively one of the world's largest buyers of media, with access to mobile search and advertising solutions.
JumpTap, Inc, leaders in mobile search and advertising, today announces a new strategic investment from WPP (NASDAQ:WPPGY), one of the world's leading communications services groups. The investment by WPP recognises the potential for reaching consumers through mobile devices by marketers and the leading role that JumpTap plays in this emerging medium.
JumpTap's President and CEO, Dan Olschwang, said: "Our mobile operator customers will have more than 250 million searches per month by the end of 2007. In order to help mobile operators capture value from this strategic asset, we have developed a strategy to attract advertisers and maximise profit, whilst helping them build and protect search traffic. In essence, our mission is to help advertisers and mobile operators build a thriving marketing ecosystem where people on the go can find exactly what they want."
Commenting on the investment, Mark Read, CEO of WPP Digital, an initiative within WPP to develop the Group's digital offering, said: "Our clients want to understand how to use mobile devices as an effective channel to reach and communicate with customers. We are excited to work with JumpTap in developing and bringing to market these latest marketing techniques and technologies. JumpTap's business model helps mobile operators gain greater value from mobile search and advertising and its products will help advertisers target mobile customers effectively. "
Through this partnership, both parties will also partner to develop new techniques to target and profile customers via the mobile phone. The partnership will also focus on developing case studies with strong brands who want to market to the mobile user.
Since its founding in 2004, JumpTap has rapidly established itself as a leader in the burgeoning mobile search and advertising market. JumpTap's suite of products and services, which includes its recently announced Advertising Suite and Mobile Search Index, offers advertisers multiple ways to reach their customers and provides mobile operators with one of the industry's most complete mobile search and advertising ecosystems.
Mobile operators throughout North American and Europe are recognising the benefits of JumpTap's white label mobile search and advertising solutions. JumpTap currently works with eight mobile operators in the US and Europe, as well as advertising networks and vertical content providers, to roll-out these services to mobile subscribers
WPP joins JumpTap's existing investors, including General Catalyst, Redpoint Ventures, BCE Capital and Valhalla Partners.
