WPP buys $7m stake in Mysupermarket.com

WPP Digital has invested $7m (£4.3m) in a minority stake in Dolphin Software, owner of Mysupermarket.com, as part of the group's ongoing investment in digitally-led operations.

WPP buys $7m stake in Mysupermarket.com
WPP buys $7m stake in Mysupermarket.com

The acquisition of Mysupermarket.com comes as WPP pursues a target of 35% to 40% of revenue to be derived from its digital assets – which include Wunderman, OgilvyOne and VML – within the next five years.

The stake is believed to form the lion's share of a $10m (£6.2m) round of funding for Dolphin Software, which also includes participation from existing investors Greylock and Pitango.

Mysupermarket.com employs 70 people and has offices in New York, London, Tel Aviv and Tokyo, with principal operations in New York.

Founded in 2006, the company operates a shopping site that allows customers to compare shopping baskets and buy from the major UK online grocery, and health and beauty retailers.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

The end of digital doom-mongering is nigh... or is it?

The end of digital doom-mongering is nigh... or is it?

Digital prophets calling the doom of the old world are well past their sell-by date, says Mark Barber, planning director at the Radio Advertising Bureau.

Share
Mindshare's huddle: next generation technology and powering dreams

Mindshare's huddle: next generation technology and powering dreams

It's hard not to get caught up in the sheer 'wow' factor of Mindshare's annual huddle day, says Immediate Media's Toby Hicks.

Share
In pictures: Campaign Media Awards 2014

In pictures: Campaign Media Awards 2014

More than 550 leaders from media agencies, media owners and advertisers celebrated creativity in the media business at the Campaign Media Awards, held at the London Hilton on Wednesday 19 October.

Share

Get news by email