Today I am thrilled to announce that Laundry Service has been acquired by Wasserman Media Group, a really awesome global business that handles major sponsorship deals for big brands and also represents the most athletes of any agency in the world.
First things first: Laundry Service is still Laundry Service. I will continue as CEO, and am working closely with Wasserman leadership to make sure our integration is smooth and symbiotic.
So, why did we do this deal? Both LS and Wasserman act as business consultants to our clients. LS activates through premium creative and distribution at scale, Wasserman activates sponsorships and events for the world’s biggest brands. Tying it all together, Cycle manages influencers and Wasserman manages athletes; we believe in people as distribution channels.
A big reason Laundry Service has been successful is our commitment to change and innovation. Wasserman and LS share a clear vision for the evolution of the media and advertising space, and by joining forces we position ourselves to continue to provide the most cutting edge offering to our clients for the next decade.
Wasserman is a best-in-class organization. Its CEO Casey Wasserman is an amazing guy. If you don’t know him, you should! Here he is on Bloomberg and profiled in the NY Times. I knew we were going to do a deal as soon as I left our first meeting.
I want to congratulate and thank everyone at LS for all of their continued incredible work; this is a people business and we’d be nowhere without our squad. I’d also like to thank all of our clients for being great partners, Alyson for umm everything, Don for being an ideal mentor, and all of you guys for your ongoing support along this journey.
This acquisition represents a major opportunity for every one of Laundry Service’s 80+ team members, all of the influencers we manage, each of our clients, and both our and Wasserman’s business as a whole.
We are just getting started.