WPP has taken a greater stake in advertising technology developer AppNexus, investing $25m and increasing its involvement in the company to 15%.
Marketing firm WPP agreed on Monday to invest $25m in Microsoft-backed adtech firm AppNexus, increasing its stake from less than 1% to almost 15%, according to the Wall Street Journal.
US-based AppNexus is a publisher ad server platform that allows real-time buying and selling of digital advertising. It raised $60m in series E funding last month at a $1.2bn valuation.
AppNexus’ backers also include venture capital firms Technology Crossover Ventures, Venrock, Kodiak Venture Partners, Tribeca Venture Partners, First Round Capital…
