WPP Joins $12m Boost for Blog Tracker

In the US, blog and social network tracker Visible Technologies has received a $12 million boost to its coffers in a second round of funding from WPP and venture capital company Ignition Partners.

WPP bought a stake in the company last year, with an option to invest further at a later date. According to Visible Technologies CEO Adam Selig, WPP has invested c.$9 million in the company to date, and now has a 'significant minority stake'. He confirmed that the company would use the financing to expand development of its products and for sales.

Since its foundation in 2003, Visible Technologies has developed social media monitoring and reputation management solutions to help clients understand their online reputations and analyse how they are perceived by consumers on search engines, blogs and social networks.

Outlining the reason for the additional investment, WPP Digital CEO Mark Read says companies have realised they need to understand and influence what is being said about them online. 'Our clients are already seeing the benefits of Visible Technologies' solutions in tracking what is written about them online in blogs and other social media and in responding effectively.'

Visible Technologies has also appointed Michelle Goldberg, principle at Ignition Partners, to its Board of Directors.

Recently WPP has made a series of investments in the social media space, with buys in VideoEgg, which has a video ad network for social networks, and LiveWorld, a creator of social networking sites for brands. Read says as many as eight more investments will follow in the next 18 months.

Based in Seattle, Visible Technologies has offices in New York, Boston, and Washington, DC, Web sites are: www.visibletechnologies.com , www.wpp.com and www.ignitionpartners.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.