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WPP Adds to Chinese Investment
WPP has made a further investment, via its WPP Digital investment arm, in China-based online ad measurement specialist Moment Systems.
The media and research giant took part in a second round of financing in relation to its minority investment in BVI company Leading Smart Holdings Ltd, which has a controlling interest in Moment. Other investors in this round were CBC, KPCB (Kleiner Perkins Caufield & Byers) and Redpoint Ventures.
Beijing-based Moment Systems was founded in 2006 and employs 140 people.
WPP says Greater China remains one of its fastest growth markets and is currently its fourth largest market with revenues (including associates) of well over $1bn from 13,000 employees, and digital revenue in China well over $200m.
Web site: www.wpp.com .
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