ImaginaryFriend Takes 6% Equity Stake in DTC Steak Brand Instead of Billable Hours
· 6h ago · Originally reported by Adweek
Agency ImaginaryFriend has taken a 6% equity stake in David "Papi" Einhorn's direct-to-consumer steak brand. The arrangement reportedly replaces a traditional fee-based engagement. The move highlights how some agencies are experimenting with compensation models tied to client outcomes.
Why it matters
If agencies hold equity in client brands, their incentives shift from selling more hours to growing the brand's long-term value — a model that could reshape how creative work is priced and compensated.
Explain it like I’m new here
Instead of getting paid cash for doing chores, the agency got a small slice of the pie so it wins only if the business wins.
The deal
ImaginaryFriend → Papi steak brand · investment · announced
See the full M&A tracker.
Terms in this story
Agency
An agency is a company that plans, buys, creates or manages advertising on behalf of advertisers, in exchange for fees, commissions or a margin on the media it buys.
Advertiser
An advertiser is the company, organisation or person that pays to place ads in order to sell products, build a brand, recruit, or spread a message.
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