PwC takes minority stake in creative agency Thinkerbell
Business management consultancy PwC has invested in creative agency Thinkerbell, the consultancy has announced this morning after several weeks of speculation.
The agency, which was only launched in June, was created by former Cummins & Partners global chief strategy director Adam Ferrier and joint ECDs Jim Ingram and Ben Couzens.
Founders Adam Ferrier, Jim Ingram and Ben Couzens
Russel Howcroft, chief creative officer at PwC Australia, said in a statement: “It is fantastic to have an interest in one of the most exciting creative start-ups in the market. It’s a great fit because Jim, Adam and Ben are absolutely aligned with our belief in how strategic marketing and powerful ideas can drive growth.
“We took a minority interest in Thinkerbell because we wanted to give the founders the space to create the culture and build the team that they want. You don’t have to own creativity in order to access it – we’re excited about the potential of this investment.”
PwC would not disclose to Mumbrella the size of the stake taken in the agency.
Ben Couzens, partner and founder at Thinkerbell, said: “It’s proof of how attractive our proposition is; combining the magic of creativity and the rigour of data led insights. Jim, Adam and I are stoked to be able to use this investment as a catalyst to build a great agency.”
Abigail Dawson was Mumbrella's senior content journalist covering event content. She left Mumbrella to move into an agency role in 2020.
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They can retire before the agency even does any work…!
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I wondered why these guys had the balls to quit their day jobs and try a new startup venture, but I realise now that these talks may have been happening earlier than June?
It seems like the ‘old boys clubs’ of Agency World are moving out of the Boardrooms (due to diversity & inclusion expectations) and into independents that can then be purchased by the Old Boys Clubs…
Best of luck guys! 🙂
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Pwc would either buy 15%, if they buy a minority, of 100%. So most likely they have bought 15%. Just check the ASIC records if you want to know.
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Mumbrella…I know PWC is a sponsor. But air all the comments will ya?
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Hi “Sponsor”,
Not a factor. You’ll see we’re in the fortunate position of having many of the industry players supporting us through sponsorship.
But we don’t publish unsubstantiated claims. If you can privately send me any information to back up what you said in your unpublished comment, I’ll happily run it if you can convince me it’s true. It would be a good story.
Cheers,
Tim – Mumbrella
@Tim Burrowes
You purport to being a good journalist. When a source gives you a tip you either act on it on you don’t. But not with the source. I think a call to Thinkerbell.
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I may have the wrong end of the pineapple here, but my understanding is that Russel and PWC were setting up a CMO consultancy to advise clients who would no doubt already have existing agency relationships.
This advice is now compromised/biased on the basis that they are now invested in an agency themselves.
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Hi Sponsor,
You need to make up your mind. Do you want me to publish your allegation unchecked, or to go out and verify it for you?
I do prefer to know who my confidential sources are though. It makes it easier to understand their level of credibility and motivations before I start pursuing something…. particularly when it ain’t necessarily Watergate. Do drop me a line.
Cheers,
Tim – Mumbrella
Cheers,
Tim – Mumbrella
“It’s proof of how attractive our proposition is; combining the magic of creativity and the rigour of data led insights.”
I love how these old school advertising guys like to flash the term data around like it’s something brand new and some sort of secret weapon? Oh… so you are no longer just relying on an individuals opinion to form mainstream insights and strategic briefs?
Welcome to the internet, please follow me.
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The ‘short comings’ of being anon…
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