Digital advertising veterans P.J. Pereira and Andrew O’Dell caused a stir in the industry earlier this year when they left their senior posts at AKQA. Wednesday, they announced plans to launch a new full-service agency, Pereira & O’Dell.
The two say their new San Francisco-based agency will offer clients both digital and traditional services, but won’t sell them what they don’t need, implying that both traditional and digital shops do just that.
In an interesting startup twist, the company has secured $30 million in funding — plus, the founders say, the prospect of an additional $70 million — from Brazilian investment fund ABC International. Agencies don’t normally launch with that type of capital backing.
The Wall Street Journal explores this angle:
WSJ: P.J., you have some Brazilian investment connections that you’re tapping to fund the company. Tell me about them.
Mr. Pereira: My first job in advertising was at Nizan Guanaes’s agency DM9. We never stopped talking. He was my first boss in advertising. He was my first partner. Now he is my partner again.