Interpublic Invests in Kiip
IPG Media Lab to Oversee Strategic Partnership with Leading Mobile Innovator
SAN FRANCISCO--(BUSINESS WIRE)-- Kiip and Interpublic Group (NYS: IPG) announced today that they have entered into a strategic partnership, which includes an investment by the global advertising holding company. On IPG's side, the partnership will be led the IPG Media Lab division of IPG Mediabrands, which will help introduce top-tier marketers to Kiip's mobile and gaming advertising platform focusing on rewards-based consumer interactions. The investment by IPG was a part of Kiip's most recent round of funding which took place at the end of 2012 and included additional investments from Relay Ventures, Hummer Winblad, True Ventures and Digital Garage, totaling $11 million.
Kiip's rewards network model includes an array of apps that connect a large community of mobile consumers to rewards for their in-app "moments of achievement" and enables brands to monetize mobile in a way that augments quality of content and engagement versus a standard interruption model.
"IPG is committed to developing emerging technology, talent and innovation, and bringing new solutions to our clients," commented Michael I. Roth, Chairman and CEO of Interpublic. "IPG Mediabrands and the IPG Media Lab identified Kiip as a key player in the increasingly important mobile market, with a thoughtful and effective model that connects brands with the modern consumer. It's always exciting when we can help our clients find new pathways to consumer engagement."
"At the IPG Media Lab, we identify the best and most innovative companies with whom we and our clients can partner. Kiip's approach to engaging a brand's customers and rewarding them when it is most effective is particularly compelling," said Chad Stoller, managing Partner, IPG Media Lab. "We look forward to being a strategic partner to Kiip and to working with them and IPG's clients to build real business solutions."
"This is a major moment for Kiip," said Brian Wong, CEO and co-founder of Kiip. "By having a partner like IPG and the innovative team at the IPG Media Lab join us, we expect to see accelerated global growth with top-tier marketers who are looking to engage with mobile consumers. Having launched just over a year ago, the traction we have made introducing a new advertising model to major brands is remarkable and the potential of rewards-based communications with a connected consumer is nearly limitless."
The Kiip mobile rewards network aligns the interests of users, major brands and game/app developers by linking moments of achievement with rewards from major brands. Kiip now works with more than 45 top-tier consumer brands, and more than 670 iOS and Android apps currently employ the Kiip network.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, Huge, Initiative, Jack Morton Worldwide, Lowe and Partners, MAGNAGLOBAL, McCann, Momentum, MRM Worldwide, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands include Campbell Ewald; Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe and Partners Company; Gotham Inc.; Hill Holliday; ID Media; Mullen and The Martin Agency. For more information, please visit www.interpublic.com.
About the IPG Media Lab
The IPG Media Lab is equal parts think tank, real-world proving ground, and change enabler. We provide agencies and clients with the power to harness emerging media by offering facilities, expertise, and resources specifically tailored to rigorously testing emerging media and marketing techniques, driving quantifiable outcomes, learnings and strategies. The IPG Media Lab is part of IPG Mediabrands, the media innovation and investment arm of IPG. For more information please visit www.ipglab.com or follow @ipglab.
Kiip is the world's first mobile rewards network that brings rewards into virtual achievements in apps and games. The company's category-creating rewards platform enables brands to reach consumers in the moments when they are most engaged and receptive, while driving revenues and greater user allegiance for developers within the Kiip network. Kiip was founded in 2010 by Brian Wong, Courtney Guertin and Amadeus Demarzi. In addition to its San Francisco headquarters, Kiip now has offices in New York City, Chicago, Los Angeles and London. Kiip is currently backed by IPG, Relay Ventures, Hummer Winblad, True Ventures, Verizon Ventures, Crosslink Capital and others. For more information, visit www.kiip.com.
Alex Koritz, Method Communications
Tom Cunningham, 212-704-1326
IPG Mediabrands / IPG Media Lab
Belle Lenz, 212-883-4791
KEYWORDS: United States North America California
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