Communications services group WPP has participated in the completed series A funding for US-based online video company Fullscreen. The funding, undisclosed but reported to be worth $30m, was led by Comcast Ventures, aComcast’s venture capital arm, and included media and technology investor Chernin Group, led by former News Corporation executive Peter Chernin and backed by investors including Providence Equity Partners and Qatar Holding. George Strompolos, chief executive officer (CEO) and founder of Fullscreen, said: “This influx of capital will help us accelerate our goal of building a global media company, funding new content initiatives, continuing to invest into new technologies and furthering our rapid expansion into international markets.” Mark Read, CEO of WPP Digital. “Our partnership with Fullscreen will give our agencies and clients new expertise, insights, technology and access to help connect with consumers on the world’s largest video platform.” Jesse Jacobs, president of The Chernin Group, said: “We first got involved with the company pre-launch two years ago and our conviction around the power of what Fullscreen is building has increased every day since.” Sam Landman, principal at Comcast Ventures, said: “As the video ecosystem evolves rapidly, Fullscreen is fusing technology and services to simplify operations and maximize opportunity for brand marketers and creators.” Fullscreen was founded in January 2011 by CEO George Strompolos, a co-creator of the YouTube Partner Program.
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WPP appears on Fullscreen
Jun 18, 2013 • Quentin Carruthers
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