Thursday, April 10, 2008
More musings on Pereira and O'Dell
Realize I missed yesterday's catch du jour in not posting about the new agency being set up by ex-AKQA execs P.J. Pereira and Andrew O'Dell that will serve both the digital and non-digital needs of clients. For the life of me, can't figure out why this concept is worth $30 million, even if, as the duo told The Wall Street Journal yesterday, the fact that most agencies have a bias toward one type of media vs. another is true. I mean, that's definitely true, but $30 million? Media-agnostic as the new agency hopes to be, getting so much seed money is very Silicon Valley. Tell me if this is a dumb idea, but I think a better start-up concept would've been to do this within a big holding company with lots of ready access to pissed off clients who need better solutions. Having a reliable stream of client connections seems like it's worth more than plain old money. Only problem there is—depending on one's idea of an end game—that eventually cashing out when you're an independent can be a much more lucrative move. It sure worked for Donny Deutsch.