Madison Alley Global Ventures Advises POP on Strategic Acquisition by Advance Publications, Inc.
Bill Predmore, Founder and CEO of POP, commented, “Madison Alley managed the process and effectively structured and negotiated the transaction. Their team provided deep industry expertise and critical strategic, financial and operational insights. We are thrilled by the outcome. I would certainly recommend Madison Alley to companies contemplating strategic opportunities in this sector.”
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ADVANCE PUBLICATIONS, PARENT COMPANY OF CONDE NAST, ACQUIRES POP
FOR IMMEDIATE RELEASE
Contact: Bill Predmore, Founder & CEO // (206) 224-0501 // bill.predmore@popagency.com
Leading Independent Digital Agency Joins Forces with Media and Publishing Powerhouse
Seattle, WA – January 16, 2013 – POP today announced that it has been acquired by Advance Publications Inc., parent company of Condé Nast (owner of iconic brands such as Wired, Vogue, Vanity Fair, The New Yorker and GQ).
POP was founded in 1996 by its current CEO, Bill Predmore. Without outside investment or influence, POP organically grew into one of North America’s largest independent digital agencies, with non-media revenue for 2012 eclipsing US $35 million, an increase of more than 30% from 2011. POP’s staff now includes more than 200 full-time employees in its offices in Seattle and San José, Costa Rica.
2012 was POP’s tenth consecutive year of double-digit revenue growth. It achieved this benchmark by creating compelling, results-driven interactive experiences for the desktop, mobile phones, tablets and digital environments. POP’s current stable of long-term clients includes Nike, Microsoft, Target, The Home Depot, Toyota and the Sydney Opera House.
POP will operate as an independent division of Advance Publications.
“We are proud to join the Advance family and look forward to helping Advance as they continue their progress in the digital media space,“ said POP Founder and CEO Bill Predmore. “With Advance we now have access to resources that will support our expansion in North America and beyond. By collaborating with our sister companies POP will be in a position to offer new and better solutions to clients. And as a division of Advance we can pursue these objectives while continuing to operate in a truly independent manner.”
POP added 48 new positions in 2012 and expects to add a similar number in 2013. No layoffs or other personnel changes will be made as a result of the acquisition. POP will continue to be led by its Founder and CEO, Bill Predmore, in conjunction with its current management team.
“We admire what POP has accomplished: carrying out exceptional work for some of the finest consumer brands, posting consistently strong financial performance and building a solid management team that is committed to the long-term success of the agency,” said Steve Newhouse, Chairman of Advance.net, the digital division of Advance Publications. “As the transition to a digitally-centered world continues, the demand for the services of pure-play digital agencies will only grow stronger. POP is incredibly well-positioned to offer consumer brands something special: world-class thinking and best-of-breed services coupled with a genuinely collaborative approach that delivers great results.”
“As digital becomes an increasingly significant part of our business, the need for collaboration with thoughtful, forward-looking, digital-first thinkers is critical,” said Bob Sauerberg, President of Condé Nast. “In POP we will have a sister company with nearly two decades in the digital trenches, and we look forward to the many opportunities we’ll have to work together.”
Peter King Hunsinger, President and Publisher of the Golf Digest Companies, and a former Publisher of Vanity Fair, Architectural Digest and GQ, will be the Condé Nast liaison to POP.
“For the past 16 years we have run the agency with a long-term perspective,” commented Predmore. “In Advance we found a kindred spirit who has a proven track-record of thinking in decades, rather than quarters. They have demonstrated the relentless patience required to build brands that can stand the test of time. By joining Advance we will have the support required to succeed in our goal of creating a world-class, independent global digital agency capable of enduring far into the future.”
POP was advised on the transaction by Madison Alley Global Ventures.
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POP is a digital marketing agency that crafts interactive experiences for the web, mobile devices and emerging digital platforms. POP works with Fortune 1000 brands, including Target, Toyota, Microsoft and Nike. Founded in 1996, POP has over 200 employees working from offices in Seattle and San José, Costa Rica. For more information about POP please visit www.popagency.com or find POP on Facebook at www.facebook.com/POP.
Advance Publications, Inc., is a privately held communications company that, directly or through subsidiaries, owns Condé Nast, Parade Publications, Fairchild Fashion Media, American City Business Journals, the Golf Digest Companies, and newspapers in more than twenty-five American cities; Advance Publications’ affiliated companies also have extensive interests in cable television and Internet sites, and significant ownership stakes in Discovery Communications and Reddit Inc.