The Daily Mail, Sir Martin Sorrell’s WPP and Snapchat are to launch an agency to cash in on the rise of native advertising.

The agency will launch in the US first with the expectation it will later roll out to international offices.

It will not be tied to working with WPP’s advertising clients or with the Daily Mail as the sole media partner, instead it will aim to work across the media and ad industry.

The Mail and WPP are thought to hold equal large minority stakes in the venture, with Snapchat taking the smaller remaining share.

More details of the new agency venture will be unveiled on Tuesday by Sorrell, the chief executive of Daily Mail North America, Jon Steinberg, and Snapchat chief executive Evan Spiegel, at a press conference in Cannes.

The agency, called Truffle Pig, aims to combine the “best of global agency, newsroom and social media talent”.

“We are going to totally evolve the way media planning and creative is done,” said Jon Steinberg, chief executive of Daily Mail North America. “I don’t think we will be the only ones to do this. I think of it like Google with Android and the Nexus range of products. We are not the only ones going to do this, but we wanted to be the first.”

More details to follow....