VML China acquires Teein, fills hole in social media capability

Established in 2004, Teein employs approximately 170 people in Shanghai. Offering social listening, social marketing and social CRM services, Teein uses self-developed products to deliver brand-socialisation solutions to clients including Estee Lauder, Google, SAP and Danone.

For the year ending 31 December 2013, Teein’s unaudited revenues were RMB 43.5 million, with gross assets of RMB 13.3 million (as of the same date).

Teein will continue to be headed up by its CEO and Founder Roy Yan (严颢), and becomes a part of VML’s current operations in China after the acquisition. Teein adds to VML IM2.0’s service scope of digital strategy, digital creative services, digital media planning and buying and e-commerce operations. The Y&R-owned agency used to outsource social-media marketing duties to smaller outfits.

Chris Tung, the CEO of VML's operations in China who will be managing Teein eventually, commented in a press release, "This takes us closer to realising our vision of building a full digital-marketing powerhouse integrating social marketing and e-commerce capabilities."  

Holding company WPP's digital revenues (including associates) were approximately 35 per cent of the group's total revenue in 2013. WPP has set a target of 40-45 per cent of revenue to be derived from digital in the next five years.