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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