Jay-Z and Steve Stoute team up to open Translation Advertising in New York. This agency will specialize in helping marketers reach multicultural consumers.
The new agency is part of Translation Consultation and Brand Imaging, which Stoute founded but sold to Interpublic Group of Companies in New York last October for an estimated $10 – 15 million. Interpublic will own a 49% share of Translation Advertising, with the majority stake owned by it’s co-chairmen Steve Stoute and Jay-Z.
Source: New York Times