AppNexus, a VC-backed advertising technology platform, has entered into an agreement to receive a $25 million investment from WPP, a global communications services company; the investment will reportedly raise WPP's stake in the company to about 15%. AppNexus' platform allows real-time buying and selling of digital advertising for marketers, publishers, content providers and media investment management companies. Founded in 2007, the company currently employs nearly 600 people in 10 offices around the world, delivering more than 30 billion ad impressions per day and generating revenues above $100 million.
Expected to close by year's end, the deal follows AppNexus' recent $85 million financing, which valued the company at $1.2 billion. That valuation nearly doubles what AppNexus was worth after its 2013 $75 million Series D round ($625 million). Additional investors in the company include Venrock, First Round Capital, TCV, Khosla Ventures and Tribeca Venture Partners, among others.