PRNewswire | Stagwell's Code and Theory Network Expands Its Digital Transformation and Engineering Globally with Addition of YML
Originally published in PRNewswire
NEW YORK, Feb. 22, 2023 /PRNewswire/ --
Stagwell (NASDAQ: STGW) today expanded its digital transformation and engineering network Code and Theory with the addition of Silicon Valley-born digital product and design agency YML (Y Media Labs). The Code and Theory Network now includes six agencies: flagship shop Code and Theory, Kettle, Mediacurrent, Rhythm, Truelogic, and YML. The move creates a truly differentiated integrated network boasting nearly 2,000 people with 50% engineers and 50% creative talent, equipping client partners with teams purpose-built to solve digital-first end-to-end business challenges.
"Stagwell believes a digital-first approach drives holistic business transformation and marketing innovation," said Mark Penn, chairman and CEO, Stagwell. "Stagwell is accelerating our investment in scaled digital transformation and engineering capabilities by aligning a truly impressive set of agencies to support our global client partners."
Stagwell's Code and Theory Network now boasts approximately 800 engineers who can execute 24/7 development cycles utilizing onshore, nearshore, and offshore engineering. YML's arrival adds key offshore scale in India and award-winning native app development capabilities.
"We are excited to expand the Code and Theory Network with the addition of YML and the opportunities this will unlock for our clients and our talent," said Dan Gardner, co-founder and executive chairman, Code and Theory Network. "Modern business is digital business. We now have both the scale of technology services and the balance of excellent creativity to deliver end-to-end services across the customer journey, which our competitors in traditional agencies or consultancies simply don't have."
Dan Gardner, along with Mike Treff, CEO of Code and Theory, will lead the Code and Theory Network. YML will continue to be led by CEO and Co-Founder Ashish Toshniwal. And, as part of this network expansion, Lauren Kushner has been promoted to CEO of Kettle.
"I could not be more excited for YML's next chapter as we join the Code and Theory network. Building on our momentum, this move will bring our clients a new roster of resources, technology partnerships and near-shore global reach with engineering scale in Latin America," said Toshniwal.
All agencies within the network will continue to operate under their individual brands, consistent with Stagwell's focus on collaboration between complementary groups versus agency consolidation. Brands within the network will retain their cultures and unique capability sets, while scaling through more integrated work.
About Code and Theory Network
The Code and Theory Network is the digital-first creative and technology group within Stagwell, built to partner with businesses to navigate the complexity of changing consumer behaviors and emerging technologies. With a global footprint and the capabilities to work cross the entire consumer journey, we crave the hardest problems to solve. The network includes the flagship agency Code and Theory as well as Kettle, MediaCurrent, Rhythm, TrueLogic, and YML.
YML (Y Media Labs) is a design and technology agency bringing Silicon Valley to the world by creating award-winning digital products and experiences. YML has launched mobile apps, websites and other digital experiences for a range of clients including PayPal, Google, Universal Music Group, The Home Depot, Yeti and Polestar. Its work has been recognized by Steve Jobs (ya, that Steve Jobs) and featured by TED Talks, in The Wall Street Journal ("YML is one of the most innovative companies in Silicon Valley"), Forbes, Ad Age, ABC, CNBC and more. Founded in 2009, YML is now home to 500+ innovative designers, strategists, and engineers around the globe. To learn more please visit yml.co.
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com