Interactive Shop Wirestone Gets $20M

Share this article:
Interactive agency Wirestone, Emeryville, CA, acquired $20 million that will be used to increase the size of the business.


B2B Solutions LLC, Stamford, CT, and PPM America Capital Partners Inc., Chicago, provided the funding. Wirestone received $2.5 million in seed funding in April 2000.


"I'd like to think we executed well against our business model," said Chris Running, CEO of Wirestone, an agency that was created last year by combining five shops. "We're profitable. We ... did an important job of getting everyone to shed their skin."


Revenue in the agency's first year was $22 million and came from clients such as AT&T, Hewlett-Packard, Motorola, Jim Beam, Agilent and Sony Interactive.


"The [new funds] will be used for continuing our acquisition strategy, [including going] after large companies that would require some cash in their deal," Running said.


"Secondly, it would be used to build our infrastructure -- accounting, knowledge management, IT, human resource systems -- to allow us access to the type of information we need."


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Customer Identity in the Digital Age

Customer Identity in the Digital Age

Industry experts explore the value in a person's cyber identity for marketers.

Epsilon Rebrands as End-to-End Marketing Solution

Epsilon Rebrands as End-to-End Marketing Solution

The goal is to flame the perception that technology and creativity live under one roof at the company, says President Andy Frawley.

Mobile Spend Vaults 76 Percent in First Half, IAB Reports

Mobile Spend Vaults 76 Percent in First Half, ...

Overall Internet ad revenues escalate by 15% to $23 billion, also fueled by increased activity in social media and video.