Ben Bold
Nov 30, 2021

WPP acquires cloud-based e-commerce firm as part of ‘accelerated growth’ plan

Acquisition to help agency group expand further into e-commerce and tech, to account for 40% of business by 2025.

WPP acquires cloud-based e-commerce firm as part of ‘accelerated growth’ plan

WPP has bought UK-based tech company Cloud Commerce Group as it looks to diversify its business beyond advertising and into e-commerce.

Cloud Commerce Group, which helps businesses sell their products across e-commerce platforms such as Amazon, eBay, Etsy and Wayfair, will join Wunderman Thompson's global network as part of its commerce and technology proposition.

For WPP, the investment marks a growing intent to offer clients and prospective clients commerce options. It is aligned with its "accelerated growth" strategy, which includes achieving growth by expanding into commerce, experience and technology from "25% of our business today to 40% by 2025" and supplementing growth through "scalable M&A of £200 million to £400 million [US$265 million to $529 million] annually".

Mark Read, WPP's chief executive, said: "Clients look to WPP to help them market, sell and fulfil across multiple e-commerce channels and marketplaces.

"With over £1bn revenue transacting through its platform, Cloud Commerce Group already has demonstrable scale and success in managing the complex omnichannel commerce needs of global brands. I'm excited about how CCG's expertise will further strengthen the breadth and depth of our commerce offering to deliver growth for our clients."

Cloud Commerce Group, which employs more than 100 people across Europe, uses multi-channel e-commerce software that connects brands to European retailers and wholesalers. The platform handles more than £1 billion in gross merchandise value annually through its integrations with marketplaces such as Amazon and eBay and e-commerce platforms such as Shopify and Magento.

Source:
Campaign UK

Related Articles

Just Published

8 hours ago

48% Indians want more inclusive representation from ...

Depiction of women in Indian ads continues to be skewed stereotypically while diversity and inclusion of LGBTQI+ groups nearly absent, according to a Kantar report

8 hours ago

Step beyond tokenism when advertising for people ...

A panel at the Advertising Standards Council of India's D&I Edge summit shared how brands should focus on authenticity and explore the role of advertising in driving social change.

8 hours ago

Why engaging with Taylor Swift’s devoted fanbase ...

Swifties are still talking about Spotify’s artwork announcing Taylor Swift as its 2023 global top artist, highlighting the importance of authentically speaking to fandoms.

8 hours ago

Adidas creates clothing for Roblox avatars

Brand launches shops in virtual world and partners with creator Rush Bogin.