Press

How Hillary Clinton’s former political adviser plans to take over the ad industry

Business Insider: May 13, 2016
Mark Penn, former chief strategy officer at Microsoft and political adviser to both Clintons, has plans to disrupt the ad world.Penn told The Wall Street Journal that he wants to create a more digitally-focused advertising group, made up of companies which do not overlap in function — using his private equity fund Stagwell Group LLC, which raised $250 million in funding last July,Stagwell Group has already acquired the agency Code and Theory, PR…

Mark Penn Is Out to Reinvent the Ad Holding Company

Wall Street Journal: May 11, 2016
ByNATHALIE TADENAMay 12, 2016 3:48 p.m. ET As a political adviser to Hillary Clinton in 2008, Mark Penn took aim at Barack Obama with the famous “3 a.m.” campaign ad. As a Microsoft strategy guru, he went after Google with a “Scroogled” campaign.Now, Mr. Penn is taking on the ad industry itself.Armed with $250 million in funding, the 62-year-old is building what he hopes will be a new kind of advertising…

Brand USA Taps Code and Theory as Digital AOR Ahead of New Campaign

Advertising Age: March 17, 2017
Brand USA has hired Code and Theory as its digital agency of record. The shop will initially be charged with redesigning the organization's website and supporting its upcoming campaign.Code and Theory won Brand USA's account following an "aggressive RFP with some of the top firms in the country and some of the best in the business," said Brand USA Chief Marketing Officer David Whitaker. He added that Code and Theory…

Mark Penn: Evolving the Agency Model

PR Week: February 24, 2016
Mark Penn: evolving the agency modelIn a world where smaller entities compete with well-established holding companies, Mark Penn's new collaborative take on how firms can adapt today while better serving clients has more to offer than looking in the rear-view mirror. The digital revolution has left major brands unsatisfied, unsure if they’re getting the most out of their marketing dollars. It has opened the door for smaller entities that are unencumbered…

Penn’s Stagwell Buys Digital Shop Code and Theory

O'Dwyers: January 6, 2016
The Stagwell Group, the private equity fund of pollster Mark Penn, has acquired New York-based digital agency Code and Theory.The 14-year-old firm has 300 staffers in New York, Atlanta, London, San Francisco and Manila, the Philippines. It has conducted major digital overhauls for Bloomberg and the Los Angeles Times, in addition to brand work for Dr. Pepper, Burger King and Maybelline, among others.The acquisition follows Stagwell's buy of SKDKnickerbocker in…