Interpublic Group (IPG) took an undisclosed stake in Huge, an online marketing firm that creates Web sites for clients like Ikea, JetBlue, Nutrisystem, Scholastic and Warner Music Group. Terms of the deal, and the size of the stake, were not disclosed. Huge has 130 employees in New York, Los Angeles, Atlanta and London.
Global ad agencies like Interpublic have been eager to follow the advertising dollars flowing away traditional media and into marketing services. So far, the strategy has worked and they've managed to weather the U.S.-led advertising downturn better than their ad-supported peers in media.
See Also:
What Ad Recession? Ad Giant Interpublic (IPG) Beats Estimates, Keeps Guidance
Omnicom's Wren: Bad Economy Means Time For Deals
Viacom: Ad Market So Bad We're Not Making Predictions Anymore
