Advertising giant WPP has taken a stake in Muzy, a Pinterest-like microblogging platform that has about 20m users.
WPP hasn’t disclosed any financial details about the deal but the decision marks an acceleration of the ad giant’s involvement in start-ups and social media in particular.
The investment in Muzy Inc is being made by WPP Ventures, the ad firm’s Silicon Valley investment arm.
The deal follows a global strategic partnership agreement WPP signed with Twitter a fortnight ago covering data and analytics, media investment and social media, and spans several WPP units, including GroupM, Kantar and digital agencies like Wunderman.
Social networks image via Shutterstock
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