Reddit is touting a deeper ad agency partnership with Tinuiti as the internet company shores up deals in the ad world ahead of its long-anticipated IPO.
On Tuesday, Reddit called Tinuiti its first “independent agency partner.” Reddit also has strong ties to Omnicom Media Group, and last week The Financial Times reported that Reddit was courting WPP. Reddit has been expanding its advertising business ahead of an expected initial public offering later this year, when it aims to sell shares that could value the company at up to $15 billion.
“It’s been a tremendous 12 months of agency partnerships at Reddit as we’ve up-leveled our relationships and agreements with the major holding companies in exciting and significant ways,” said Neal Hubman, Reddit head of growth for mid-market and small and midsize businesses. “The natural next step for us is to apply the same focus to independent agencies, which already account for a growing number of active advertisers on our platform.”
Reddit did not say which other agencies it has courted, but these types of deals with holding companies and ad firms are common. Tinuiti is a performance marketing agency and the partnership will give Tinuiti clients an early look at Reddit ad tech tools, such as research reports and opportunities to test the latest ad products. Tinuiti clients will also get creative strategy help from KarmaLab, Reddit’s in-house agency.