Rolling up an Online Ad Agency Powerhouse: AKQA CEO Tom Bedecarre (Part 5)

AKQA built differentiated expertise in doing interactive campaigns for a global market, including extensive localization, a strategy that spells foresight and vision.

SM: Specializing in global campaigns seems to have been a good move, but could have been risky. Did it work out for you? TB: That expertise has paid off in the last couple of years hugely. Coca Cola hired us to create a new Global web platform for the Coke Brand. About 18 months ago DiMaggio hired us to take over the global digital duties and the Smirnoff brand globally. Six months ago McDonalds hired us for a global digital assignment for the McDonalds brand.

As we were growing we were getting a lot of acclaim; both in the US and the UK we have been named as the interactive agency of the year, several years running. In the US it was Creativity Magazine, and OMA magazine. In the UK it was Revolution Magazine, and Marketing Magazine. I think the combination of the Blue Chip brands and the global footprint as well as growing recognition of our work attracted a lot of attention to the company. It grew 58% last year, and we ended up having a lot of inbound inquiries about investing in the company, buying the company, and we had chats with quite a few people about potential partnerships. In the final analysis we were happy being independent, and we thought we were on a good course.

SM: What is your revenue? TB: $100M. In the final analysis we have turned down quite a few other offers, and took an investment from General Atlantic which came at a time which was good for Francisco Partners which was at the tail end of its first fund. There were some legacy shareholders from the four companies we put together, who wanted to cash out and exit the business. It was a good opportunity to have a new investor step into those shoes and make a commitment to take us through to the next level of growth. The funding was closed two months ago, and we had a very good first couple of months working with our new partner. They have a very global orientation. Among private equity funds they were one of the early ones to get out of the US. They have offices in London, Germany, India, and China.

[to be continued]

[Part 4]
[Part 3]
[Part 2]
[Part 1]

This segment is part 5 in the series : Rolling up an Online Ad Agency Powerhouse: AKQA CEO Tom Bedecarre
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