WPP announces that it is investing US$5 million for a minority stake in Gimlet Media, Inc. (“Gimlet”), an award-winning global podcasting company based in the US.
Gimlet’s advertising and branded-content clients include Alphabet Inc., Ford Motor Company, PepsiCo, Match Group, eBay, Blue Apron, Goldman Sachs and Microsoft Corporation. Gimlet is based in Brooklyn, New York and was founded in 2014. It employs 85 people.
Gimlet’s podcasts are downloaded over 12 million times per month in over 190 countries worldwide. Gimlet’s programming includes critical and commercial hits spanning a variety of verticals like StartUp (business), Reply All (internet culture), Mogul (music), Homecoming (scripted fiction), Uncivil (history), Science Vs (science), Crimetown (true crime), The Nod (Black culture), among many others. Gimlet also produces branded podcasts on behalf of advertisers looking to connect with Gimlet’s sought-after millennial audience on a deeper plane. In the past, year Gimlet has produced hit branded podcasts including DTR ‘Define the Relationship’ (Tinder/Match Group), Open for Business (eBay), The Venture (Virgin Atlantic), The Secret to Victory (Gatorade), and future (Microsoft). Since its founding, Gimlet has raised US$27 million in funding.
The investment continues WPP’s strategy of focusing on three key areas that differentiate the Group’s offering to clients: technology, data and content. The Group has invested in digital content companies like Russell Simmons’ All Def Digital, Fullscreen, Indigenous Media, Imagina (a content rights and media company based in Spain), MRC, Mic, Mitú, Refinery29, Uproxx Media Group and VICE.