WPP Invests $5 Million in New York-based Podcasting Company Gimlet

Shutterstock photo

WPP ( WPPGY ), a British multinational advertising and public relations company, said Wednesday it spent $5 million for a minority stake in Gimlet Media, an award-winning New York-based podcasting company.

Founded in 2014, Gimlet employs 85 people and its podcasts are downloaded over 12 million times per month in over 190 countries worldwide, WPP said.

Gimlet's advertising and branded-content clients include Alphabet, Ford Motor Company, PepsiCo, Match Group, eBay, Blue Apron, Goldman Sachs and Microsoft.

The investment was made to further WPP's strategy to invest in digital content providers. Gimlet has raised $27 million in funding so far.

The shares fell 0.1% in early trading in New York on Wednesday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , ETFs
Referenced Symbols: WPPGY

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com