Advertising firm WPP Plc (WPPGY,WPP.L) said it has taken a stake in Muzy, Inc., an early-stage microblogging service focused on mobile content creation. Muzy has attracted more than 20 million users worldwide and is adding over 1 million new users every month.
This investment is being made via. WPP Ventures, based in Silicon Valley and run by President Tom Bedecarré, who is also the Chairman of AKQA. WPP Ventures explores early-stage investments in new technology companies that offer innovative solutions to WPP clients and strengthen the capabilities of WPP.
Muzy, which currently employs less than 10 people, was launched in 2011 by its cofounders, Chief Executive, Andrew Chen, and CTO Matt Rubens. Muzy would use the investment proceeds to further scale the engineering team and build out the suite of creative publishing tools for the Muzy platform. It offers more than 50 mobile publishing tools and a global network for sharing content and is a Top 100 photo app in 70+ countries.
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