Local agency Mr. Youth was founded in 2002 by Matt Britton to focus on a new class of marketing driven by social media and interactive experiences. It grew quickly, reaching 140 employees and $25 million in revenue this year, even spinning out a startup, Crowdtap, which went on to raise $7 million in funding.
Today Mr. Youth was acquired by LBi International, the world’s largest independent global marketing and technology agency with operations in 16 countries. With earn outs, the transaction valued Mr. Youth at between $40 to $50 million dollars.
“It was clear the moment we met with LBi that there was the potential to do something big. Their global footprint, creative excellence, and technical proficiency will be a powerful mix when combined with our intellectual property, social media marketing model, and deep domain expertise in marketing to millennials. We are incredibly excited about our future together,” said Matt Britton, CEO of Mr. Youth, in a statement about the acquisition released today.