(Baidu VR original manuscript, reproduced please indicate the source)
(Beijing time February 7, 2017) In 2016, the virtual reality market was favored by capital. According to statistics, there were 22 financing events in January and the financing amount exceeded 100 million U.S. dollars. In 2017, the virtual reality market picked up. SubVRsive, a VR brand advertising company in Austin, Texas, announced that it will receive a $4 million Series A round of financing.
The financing was exclusively invested by WPP, the world's largest communications group. WPP has been committed to the innovation of communication technology and advertising promotion methods in recent years. The CEO of the group, Martin Sorrell, once said: “The virtual reality market has very promising prospects. This is a very good future for sports, entertainment, tourism, etc. Therefore, we will also use communication technology and promotion methods to find new opportunities and challenges in the virtual reality market."
In November of last year, WPP cooperated with IMAX and spent $50 million to develop virtual reality media projects. In 2015, WPP’s revenue in digital media also exceeded US$700,000, which represented 37% of the Group’s total revenue ( With a total revenue of US$19 billion, WPP hopes to gain greater value from digital advertising in the coming years. Currently WPP Group has about 190,000 employees and has opened more than 3,000 offices in 112 countries and regions.
This time, VR advertising company SubVRsive obtained WPP's $4 million financing, which is also a crucial part of the incoming VR market. SubVRsive was founded in 2015 and is a company that uses Virtual Reality (VR) and Augmented Reality (AR) technologies. The main business of the company is to help advertisers attract consumers. At present, they have in-depth cooperation with well-known brand companies at home and abroad, such as Procter & Gamble, Lionsgate Entertainment, and CNI's SNI. In addition, they and the directors, content creators, and producers And developers collaborate to develop video, mobile APP applications, and interactive experiences for VR devices.
Analysis of Baidu VR Community (Micro Signal: BDVRbbs), WPP further deepened its layout in the field of virtual reality through this investment in SubVRsive, strengthened the Group's position in the dissemination of technology and promotion methods, and constantly tried new models in conjunction with VR technology, and SubVRsive obtained WPP's financing will also continue to expand and improve its technical strength, so as to find more VR partners.