2009-02-10 21:19:01 -
Mr Youth"a social marketing agency focusing on word-of-mouth, social interactive and experiential marketing"announced today that it has closed a private equity deal with two Boston-based investors: Alta Communications, specializing in equity investments in media and communications companies; and The Mustang Group LLC, a private equity firm that invests in industry-leading middle market companies. Current board member Jordan Rednor, who is active in a variety of marketing services companies, also joined the investor group.
"It really says a lot that these firms want to invest in Mr Youth at a time when many companies are struggling to survive, let alone get adequate funding," said Matt Britton, founder and CEO of Mr Youth. "Both Alta Communications and The Mustang Group
have a deep understanding of our industry and the challenges marketers are facing to engage people with brands. We feel strongly that we have created a new agency model, which has developed from necessity in marketing to a new breed of consumers empowered by social technologies. Our clients recognize our unique ability to connect with the Millennial market and we are excited for this new partnership which will enable us to execute on a growth strategy that will take Mr Youth to new levels."
The investment will also help fund the continued expansion of Mr Youth's proprietary word-of-mouth network, RepNation, which just launched an expanded next generation platform. RepNation is already the leading word-of-mouth network for Millennials"and the investment will take the successful network of over 100,000 brand evangelizers to new heights. Companies who have worked with Mr Youth to launch innovative campaigns on the network include Ford, Microsoft, Macy's and JetBlue, among others.
"As a media investor, we have seen how rapid changes in consumer interaction with media have made it increasingly difficult for brands to reach Millennial consumers," said Tim Dibble, Managing General Partner of Alta Communications. "We invested in Mr Youth because it is solving this problem, using consumers to reach other consumers with innovative, metrics-driven marketing campaigns."
"We are thrilled to partner with Mr Youth to support its continued growth," said Carson Biederman, Managing Partner of The Mustang Group. "The management team at Mr Youth has an exceptional grasp of the new consumer. With RepNation, Mr Youth is able to set itself apart from other agencies by utilizing social technology and communications to deeply engage consumers who are completely adept at tuning out and avoiding traditional media.?
On the heels of the announcement, Britton has been elevated from President to CEO. The executive management team also includes: Brandon Evans, Managing Partner, Strategy and Services; and Doug Akin, Managing Partner, Sales and Brand Development.
About Mr Youth
New York-based Mr Youth is a social marketing agency that was founded in 2002 as the antidote to traditional media burnout. Since then, Mr Youth has worked with some of the world's leading brands to help them connect with the rapidly evolving and highly elusive consumer. Mr Youth develops strategies and campaigns centered around the modern media mix of word-of-mouth, social interactive and experiential marketing, with a strong focus on creating integrated campaigns that fully engage the audience.
Mr Youth's RepNation, a word of mouth network of 100,000+ savvy consumers, provides marketers a direct channel to conceive ideas, market with, and gain insights from their own consumers. In just six years, Mr Youth has become an award-winning agency and a recent addition to the prestigious Inc 500 list of the nation's fastest-growing private companies. Clients include: Microsoft, Kimberly-Clark, Macy's, Ford Motors, and JetBlue Airways. For more information, visit www.mryouth.com.
DiGennaro Communications
Kristen Bryan, 212-966-9525
kristen@digennaroNY.com