Business
Joint Venture
Joint Venture.
About this update from Yougov Plc
[{"type":"text","content":"\n YouGov PLC\n24 August 2007\n\n\n\n\n\n24 August 2007\n\n\n\n YouGov plc\n\n\n\n YouGov signs joint venture with Photon Group in Australia\n\n\n\n\n\nYouGov plc ('YouGov' or the 'Company'), the UK's leading online market research\nagency, today announces that it has signed a joint venture with Australia's\nPhoton Group to form YouGovAustralia, in which YouGov will hold a 25% stake.\n\n\n\nYouGovAustralia will bring together YouGov's online expertise and strong\ninternational brand with Photon's local knowledge and established online market\nresearch presence. YouGovAustralia will seek to replicate YouGov's success in\nthe UK and Middle East to bring its opinion, polling and market research product\noffering to Australia.\n\n\n\nYouGovAustralia intends to establish a representative internet panel of up to\n50,000 Australians by October 2007 to enable it to conduct online polls for the\nforthcoming Federal Election. The majority of Australian political polling is\nconducted via telephone surveys despite the fact that this can lead to higher\nerror rates. YouGovAustralia believes that its representative online polls will\neliminate much of this error. YouGov has produced the most accurate predications\nof the last eight political elections in the UK.\n\n\n\nCommenting on the JV announcement, Nadhim Zahawi, Chief Executive of YouGov,\nsaid: 'YouGov has a proven track record in providing fast and accurate online\npolitical polling through its representative panels. We are confident that we\nwill be able to leverage this through our Australian JV and provide competitive\nonline market research. Our JV with Photon Group is consistent with our strategy\nof growing our business internationally and exporting YouGov's business model\nand products into new markets.'\n\n\n\n\n\nEnquiries:\n\n\nYouGov plc\nNadhim Zahawi / Katherine Lee 020 7012 6000\n [email protected]\nFinancial Dynamics\nCharles Palmer / Nicola Biles 020 7831 3113\n\n\n\n\n\nNote to Editors:\n\nFounded in May 2000, YouGov has become the de facto choice for conducting\nprofessional market research. For year-end 2006, turnover rose by over 200 per\ncent to £9.5 million. For the half-year to January, YouGov, which lifted UK\nclient numbers by 46 per cent to 263 and claims to be enjoying 'good levels' of\nrepeat business, squeezed pre-tax profits of £2.3 million from group tu...