UK-based media and advertising company WPP has co-launched China-based e-commerce start-up Polestar through its corporate venturing unit WPP Digital, investing an undisclosed sum.
Polestar will work with local and international brands to establish and manage all aspects of their Chinese e-commerce operations from marketing to delivery. WPP will hold a minority stake, with principal investors Figo Yang, who will serve as CEO, and COO Allen Liu leading the company.
Martin Sorrell, chief executive of WPP, said: “Understanding and monetising the e-commerce opportunity is a top priority for all brands in China, and by partnering with Polestar we can now offer our clients a one-stop solution, a first in China.”
Last week WPP increased its stake in advertising technology company AppNexus.