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Online ad agencies have generally done very well in this environment. SF-based AKQA is no exception and it plans to remain independent while its rivals have been bought out by ad industry giants. It has won its freedom thanks to General Atlantic Partners which bought a stake in AKQA for a reported $150M-$250M in March.
The company has been on a PR tour, to help raise its visibility and is making a strong impression with its numbers.
AKQA says it expects revenue in 2007 to go to $100M from $70 last year. And it is has been profitable for the past 5 years. CEO Tom Bedecarre says he expects to go public in 2008.
Through buyout or direct hire, the company plans to grow its headcount of 550 people by 30% this year. To help get there, Bedecarre told SF Business Times to that we can expect an announcement shortly where AKQA has bought a Bay Area firm. The company recently hired a former Morgan Stanley investment banker, David Atkinson, to run M&A. The firm says it needs to buy or acquire technology to deliver and track ads on cell phones, games, digital signage and GPS units on buses.
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