WPP invests in Russell Simmons' All Def Digital

(ShareCast News) - Advertising group WPP has agreed to make a strategic investment in Los Angeles-based All Def Digital (ADD), a digital media company founded by hip-hop impresario Russell Simmons.ADD, whose clients include Universal and Samsung, was founded by Simmons in 2013 employs around 35 people. It produces and distributes music and content tailored for the urban-centric youth culture. The content is distributed through its own media properties, social media channels, traditional and premium television, cinemas and live events.WPP said: "ADD also operates a curated network of emerging and established talent including social video stars, stand-up comics, writers, actors, poets and hip hop recording artists. It is the fastest growing media brand in urban youth programming, touching over 100 million fans monthly across YouTube and Facebook."The investment is being made through Silicon Valley-based WPP Ventures, which explores investments in new technology companies that offer innovative solutions to WPP clients and strengthen the group's capabilities.WPP Ventures is investing along with Third Wave Digital Partners and Andreessen Horowitz, as well as existing ADD investors Greycroft Partners, Advancit Capital, Nu Horizons Investments and e.ventures.No financial details were disclosed.At 1540 BST, WPP shares were up 0.7% to 1,533p.