Inide agencies, especially indie agencies with a strong digital practice, are hot properties. Holding company execs circle, but the news here is that increasingly these holding companies are media companies. For instance, Hearst bought the digital marketing firm iCrossing for $325 million in 2010, while Meredith has acquired a series of agencies including O’Grady Meyers and Genex.
— POP (@POP_Agency) January 17, 2013
“As the transition to a digitally-centered world continues, the demand for the services of pure-play digital agencies will only grow stronger,” said Steve Newhouse, chairman of Advance.net, a division of Advance, in a statement.
Founded in 1996, Pop had 2012 revenue of $35 million servicing clients like Nike, Target, Microsoft and Toyota. It added 34 employees last year and now has 200 overall working in Seattle and San Jose, Costa Rica.