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WPP Invests in Web Analytics Firm
WPP Digital, the digital investment arm of marcoms giant WPP, has bought a stake in web engagement metrics firm NuConomy. While the sum was not disclosed, sources say that the amount totalled $3m.
Founded in Israel in 2006, NuConomy designs analytics tools which allow web publishers to measure consumers' engagement and interaction with content, while giving advertisers actionable insight into their audiences. The firm is currently working on techniques designed to measure engagement with online ads from its headquarters in Silicon Valley, California and R&D offices in Israel.
NuConomy is expected to work closely with WPP's Kantar group of research companies. Its co-founder and CEO Shahar Nechmad says his firm can offer better data on web traffic than Google Analytics at a fraction of the price of Omniture, WebTrends and Coremetrics. Of the investment, Nechmad says: 'We believe that the combination of our platform and the WPP brands can bring advertisers and publishers the solution they need to take the next step in the digital world. This is one of the reasons we chose to take the investment from WPP instead of going with traditional VC money.'
WPP says the deal will enhance its capabilities in digital media and research. Web sites are at www.wpp.com and www.nuconomy.com.
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