Omnicom Group Buys Stake in Dash.comAdvertising and marketing communications giant Omnicom Group, New York, is expected to pay $25 million for a 20 percent stake in Dash.com, an Internet start-up launched 14 months ago.
In addition, chairman/CEO John Wren said in a published report that Omnicom was considering the purchase of additional stakes in more Internet-related service companies "in the coming weeks."
Wren said the interest in more online-oriented companies was part of a long-term strategic plan to help keep the company diverse. "I didn't get into them or make investments because they are financial plays," Wren said. "I thought they were going to be new avenues to communicate with customers or provide channels to distribute through."
Dash.com will allow Omnicom to put its foot further into the door of Internet advertising and marketing as it seeks to compete against firms like DoubleClick and Real Media, both of New York. Omnicom also owns a small percentage of L90, Santa Monica, CA, which buys advertising online and sends banner ads to Web sites.