Legacy Agencies Help Startups Gain Footing in a Slippery Industry

Cartwright, backed by WPP, is the latest example

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Earlier this month, Cartwright, a new agency bearing the name of former 72andSunny creative lead Keith Cartwright, formed with WPP’s backing and the ability to tap into Grey’s global network.

It’s the latest example of a symbiotic relationship that has developed in recent years between advertising’s giants and startup shops. Such investments allow holding companies or larger agencies to take a stake in shops not open to acquisition, while smaller shops gain scale and resources that could otherwise take years to build.  

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This story first appeared in the June 22, 2020, issue of Adweek magazine. Click here to subscribe.