Kipp Strikes Partnership, Investment Deal With IPG
IPG, one of the big four global ad agency groups, is to invest in the mobile rewards platform, Kiip, as part of a strategic partnership which will be led the IPG Media Lab division of IPG Mediabrands. The company will help introduce top-tier marketers to Kiip's mobile and gaming advertising platform focusing on rewards-based consumer interactions. The investment is part of an $11m funding round which also involved Relay Ventures, Hummer Winblad, True Ventures, and Digital Garage.
Kiip's rewards network model includes an array of apps that connect a community of mobile consumers to rewards for their in-app "moments of achievement". Kiip says it 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," says 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."
Kiip CEO and co-founder Brian Wong described the partnership as “a major moment for Kiip." He said: "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."
Kiip currently works with more than 45 major consumer brands, including American Apparel, Best Buy, Dr Pepper, McDonald's, Pepsi, P&G and Sony Music. Kiip is currently deployed in more than 670 iOS and Android apps.