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Interpublic Group (NYSE: IPG) announced today that they have entered into a strategic partnership, which includes an investment by the global advertising holding company. On IPG’s side, the partnership will be led the IPG Media Lab division of IPG Mediabrands, which will help introduce top-tier marketers to Kiip’s mobile and gaming advertising platform focusing on rewards-based consumer interactions. The investment by IPG was a part of Kiip’s most recent round of funding which took place at the end of 2012 and included additional investments from Relay Ventures, Hummer Winblad, True Ventures and Digital Garage, totaling $11 million.
Kiip's rewards network model includes an array of apps that connect a large community of mobile consumers to rewards for their in-app “moments of achievement” and enables brands to monetize mobile in a way that augments quality of content and engagement versus a standard interruption model.
“IPG is committed to developing emerging technology, talent and innovation, and bringing new solutions to our clients,” commented Michael I. Roth, Chairman and CEO of Interpublic. “IPG Mediabrands and the IPG Media Lab identified Kiip as a key player in the increasingly important mobile market, with a thoughtful and effective model that connects brands with the modern consumer. It’s always exciting when we can help our clients find new pathways to consumer engagement.”
"At the IPG Media Lab, we identify the best and most innovative companies with whom we and our clients can partner. Kiip's approach to engaging a brand's customers and rewarding them when it is most effective is particularly compelling," said Chad Stoller, managing Partner, IPG Media Lab. "We look forward to being a strategic partner to Kiip and to working with them and IPG's clients to build real business solutions."
“This is a major moment for Kiip,” said Brian Wong, CEO and co-founder of Kiip. “By having a partner like IPG and the innovative team at the IPG Media Lab join us, we expect to see accelerated global growth with top-tier marketers who are looking to engage with mobile consumers. Having launched just over a year ago, the traction we have made introducing a new advertising model to major brands is remarkable and the potential of rewards-based communications with a connected consumer is nearly limitless.”