Stagwell
{{Short description|American marketing group}}
{{Infobox company
| name = Stagwell Inc.
| logo = Stagwell logo 2021.svg
| former_name = {{Unbulleted list|The Stagwell Group|MDC Partners}}
| traded_as = {{NASDAQ|STGW}}
| industry = Advertising, marketing, communications, media
| founded = {{Start date and age|2015}}
| founder = Mark Penn
| hq_location = Washington, D.C.
| key_people = {{Unbulleted list|Mark Penn (CEO)|Ryan Greene (CFO)|Jason Reid (CIO)|Beth Lester Sidhu (COO)}}
| brands =
| subsid =
| website = {{URL|www.stagwellglobal.com}}
}}
Stagwell Inc., formerly The Stagwell Group, is a global marketing and communications group founded in 2015 by Mark Penn.{{Cite web|last1=Smiley|first1=Minda|date=July 24, 2020|title=Marketing Is the Answer Whether You're Growing or Struggling|url=https://www.adweek.com/agencies/marketing-pandemic-mdc-partners-ceo-mark-penn/|access-date=2021-07-15|language=en-US}} In 2020, The Stagwell Group announced plans to merge with its affiliate MDC Partners.{{Cite web|title=Stagwell Group organic revenue spikes 59.9% in Q4|url=https://www.prweek.com/article/1709563|access-date=2021-07-15|website=www.prweek.com}} The merger was completed in August 2021.{{Cite web|last1=Smiley|first1=Minda|date=December 21, 2020|title=MDC Partners and Stagwell Group Agree to Merge|url=https://www.adweek.com/agencies/mdc-partners-and-stagwell-group-agree-to-merge/|access-date=2021-07-15|language=en-US}}{{Cite web|url=https://digiday.com/marketing/stagwell-bets-on-organic-growth-to-power-its-merger-with-mdc-partners-as-it-retires-the-mdc-name/|title = Stagwell bets on organic growth to power its merger with MDC Partners, as it retires the MDC name|date = 27 July 2021}}
Known partners include 72 and Sunny, Anomaly, Soner, Forsman & Bodenfors, Code and Theory, YML, Instrument, Locaria, Assembly, ForwardPMX, Gale, Allison+Partners, SKDK (SKDKnickerbocker), HUNTER, Harris Poll, and NRG.{{Cite web |date=2021-08-03 |title=The Stagwell Group Announces the Successful Combination of Stagwell Marketing Group With MDC Partners, Forming Stagwell Inc. (NASDAQ: STGW) |url=https://www.businesswire.com/news/home/20210802005517/en/The-Stagwell-Group-Announces-the-Successful-Combination-of-Stagwell-Marketing-Group-With-MDC-Partners-Forming-Stagwell-Inc.-NASDAQ-STGW |access-date=2023-08-15 |website=www.businesswire.com |language=en}}
History
Mark Penn founded The Stagwell Group in 2015.{{Cite web |title=Stagwell’s Mark Penn: ‘No other holdco, or consultancy, has the right balance’ |url=https://www.thedrum.com/news/2022/05/03/stagwell-ceo-mark-penn-no-other-holdco-or-consultancy-has-the-right-balance |access-date=2023-09-21 |website=The Drum}} Penn founded The Stagwell Group with a $250 million investment from former Microsoft CEO Steve Ballmer.{{Cite news|last=O’Reilly|first=Lara|date=2018-08-14|title=Mark Penn's Stagwell Group Raises $260 Million|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/mark-penns-stagwell-group-raises-260-million-1534244400|access-date=2021-07-15|issn=0099-9660}}{{Cite news|last=Tadena|first=Nathalie|date=2016-05-12|title=Mark Penn Is Out to Reinvent the Ad Holding Company|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/mark-penn-is-out-to-reinvent-the-ad-holding-company-1463082519|access-date=2021-07-15|issn=0099-9660}}
In 2017, Stagwell acquired Forward3D, Scout and also acquired Observatory from CAA. The company also acquired pilot movie testing assets from Nielsen and combined them with NRG, and acquired mobile research assets from Nielsen to form HarrisX.{{Cite web|last=Busch|first=Anita|date=2017-07-14|title=Stagwell Group Acquires TV Pilot Testing Assets From Nielsen|url=https://deadline.com/2017/07/stagwell-group-tv-pilot-testing-assets-nielsen-1202129283/|access-date=2021-07-15|website=Deadline|language=en-US}}{{Cite web|last=Bond|first=Paul|date=2015-11-16|title=Nielsen's NRG Acquired by Stagwell Group|url=https://www.hollywoodreporter.com/business/business-news/nielsens-nrg-acquired-by-stagwell-840575/|access-date=2021-07-15|website=The Hollywood Reporter|language=en-US}} In 2018, Stagwell acquired Ink and later ReputationDefender. Stagwell also secured a $260 million investment from AlpInvest Partners.{{Cite news|last=O’Reilly|first=Lara|date=2018-08-14|title=Mark Penn's Stagwell Group Raises $260 Million|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/mark-penns-stagwell-group-raises-260-million-1534244400|access-date=2021-07-15|issn=0099-9660}} In 2020, Stagwell acquired Seward Square Strategies as part of SKDK,{{Cite web|title=PR Sector M&A Activity Declines, But Independents Stay Busy|url=https://www.provokemedia.com/latest/article/pr-sector-m-a-activity-declines-but-independents-stay-busy|access-date=2021-07-15|website=www.provokemedia.com|language=en}} as well as Headliner Labs as part of ForwardPMK.{{Cite web|last=Coffee|first=Patrick|title=Kenneth Cole and Cole Haan are betting on voice-enabled search options. Stagwell Group just snapped up a buzzy startup to try and cash in.|url=https://www.businessinsider.com/forwardpmx-mark-penn-stagwell-group-acquires-chatbot-startup-headliner-labs-2020-3|access-date=2021-07-15|website=Business Insider|language=en-US}} In August 2021, following the merger of The Stagwell Group with MDC Partners, Stagwell formed Stagwell Media Network, a group of multichannel agencies.{{Cite web|last1=O’Brien|first1=Kyle|date=August 4, 2021|title=Newly Merged Stagwell Inc. Announces Q2 Earnings|url=https://www.adweek.com/agencies/with-mdc-merger-complete-stagwell-inc-announces-q2-earnings/|access-date=2021-08-24|language=en-US}} In September 2021, ReputationDefender was sold to Norton.{{cn|date=May 2023}} In July 2022, Stagwell acquired Apollo Program, an AI-powered SaaS platform. {{Cite web |first=Natasha |last=Bach |title=Stagwell acquires SaaS platform Apollo Program |url=https://www.prweek.com/article/1793567 |access-date=2022-07-20 |website=www.prweek.com |language=en}} {{Cite web |date=2022-07-18 |title=Stagwell buys Apollo Program to boost first-party data, SaaS offerings |url=https://digiday.com/media/stagwell-buys-apollo-program-to-boost-first-party-data-saas-offerings/ |access-date=2022-07-20 |website=Digiday |language=en-US}} In 2023, Stagwell announced a partnership with political news and polling site RealClearPolitics for the 2024 U.S. presidential election.{{Cite web |last=Siu |first=Antoinette |date=2023-10-02 |title=As $12 billion 2024 political spending cycle nears, Stagwell partners with RealClearPolitics |url=https://digiday.com/media-buying/as-12-billion-2024-political-spending-cycle-nears-stagwell-partners-with-realclearpolitics/ |access-date=2023-10-12 |website=Digiday |language=en-US}}
In 2019, Stagwell invested $100 million into MDC Partners. Stagwell CEO Mark Penn was then appointed CEO of MDC Partners.{{Cite web|last=Visconti|first=Ambrogio|title=The Stagwell Group's $100 Million Investment In MDC Partners|url=https://www.globallegalchronicle.com/the-stagwell-groups-100-million-investment-in-mdc-partners/|access-date=2021-07-15|language=en-US}} On December 21, 2020, the firms announced their intent to merge. On August 23, 2021, Stagwell announced the completion of the merger and the creation of Stagwell Inc. (NASDAQ: STGW) as the merged entity with Mark Penn as Chairman and CEO of the combined company. The merged company will be headquartered in New York, with significant offices in Washington, DC.{{Cite web|last1=Lepitak|first1=Stephen|last2=Oster|first2=Erik|date=May 5, 2021|title=MDC and Stagwell Group Release Q1 Results, Merger Moves|url=https://www.adweek.com/agencies/mdc-and-stagwell-group-merger-moves-ahead-as-q1-results-are-reported/|access-date=2021-07-15|language=en-US}}
References
{{Reflist}}
{{DEFAULTSORT:The Stagwell Group}}
Category:Companies based in Washington, D.C.