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.

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

Campaign Viral Chart: T-Mobile Super Bowl ad featuring Drake overtakes Heinz to top spot

Campaign Viral Chart: T-Mobile Super Bowl ad featuring Drake overtakes Heinz to top spot

The extended version of the spot takes the top position in a chart filled with Super Bowl ads.

Share
Johnston Press boss Highfield: i can win ad revenues from Times and Telegraph

Johnston Press boss Highfield: i can win ad revenues from Times and Telegraph

Ashley Highfield, the chief executive of Johnston Press, has hailed the acquisition of i as an opportunity to gain significant national advertising scale and win "some of the pounds from The Times and the Telegraph".

Share
ESI Media: Digital-only Independent can thrive because 'we believe in journalism'

ESI Media: Digital-only Independent can thrive because 'we believe in journalism'

The advertising boss of ESI Media has claimed The Independent can thrive as a strong digital-only brand because of its journalism and that other publishers will be looking to follow suit by shutting their print editions.

Share

Get news by email