MAM

Dentsu acquires digital agency Webchutney from Network18

MUMBAI: It‘s cashing out on its investment. Media conglomerate Network18 today announced that it was finally divesting its equity holding in digital marketing agency Webchutney to Japanese ad giant, Dentsu. The latter had been circling Webchutney, ogling it as an acquisition for nearly a year. Founded in 1999, Webchutney will reportedly be Dentsu‘s first local acquisition in the digital agency space.


Network18 had acquired a majority stake in Webchutney through its venture capital arm Capital18 in November 2007 and it says it has managed to get a 300 per cent return on its investment through the current transaction.


Webchutney, a leading interactive marketing and technology services agency, reported a net profit of Rs 6.35 crore in the financial year 2011-2012 on revenues of Rs 21.55 crore, according to media reports. It boasts a healthy clientele including Airtel, Microsoft, Unilever, Marico, Titan, MasterCard, Barclay‘s, Procter & Gamble among many others, and ranks among the top digital agencies in India.


Its full suite of digital offerings includes online advertising, web designing and development, search engine marketing and social media consulting. Its award winning teams are spread across Delhi, Mumbai and Bangalore and consists of over 200 professionals.


Network18‘s 80 per cent Webchutney stake is bifurcated between Capital18 Mauritius which holds 49.42 per cent and Capital18 Fincap which has a 20.64 per cent.


Commenting on the transaction, Network18 MD Raghav Bahl says: "The divestiture of Webchutney, is a reflection of our commitment to profitably monetise our investment portfolio for the benefit of our shareholders and to also facilitate the growth of these businesses to the next level. We would like to convey our best wishes to the Webchutney team as they embark on the next phase of their journey."


Webchutney co-founder and CEO Sidharth Rao says: "I am personally grateful to Sarbvir Singh who has been my mentor for the past five years and his team at Capital18 for ensuring that we shared a wonderful journey together. In Dentsu and Rohit Ohri, we have found a partner who is willing to invest in and cultivate our passion to provide path breaking digital creative services to our clients."










Dentsu India group executive chairman Rohit Ohri along with Webchutney co-founders Sidharth Rao (L) and Sudesh Samaria (R)



Dentsu India group executive chairman Rohit Ohri opined that he is delighted to have India‘s No 1 digital agency as a part of the Dentsu India group. He explains: "We’re now going to be able to put world-class digital solutions in the centre of our offering to our clients."


Now that could be music to anyone‘s ears.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/24/Arshan%20Saha-800x800.jpg?itok=dtACgE7u
Xaxis names Arshan Saha APAC president

MUMBAI: Xaxis the world’s largest programmatic media and technology platform, today announced the promotion of ArshanSaha to President, Asia Pacific (APAC). Saha was previously Vice President, South and Southeast Asia. As one of the founding members of Xaxis APAC, Saha helped established offices in...

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/23/tripti%20%281%29.jpg?itok=eV92OYYD
VML appoints Venkatagiri Rao as creative head

Global digital marketing agency VML has announced the appointment of Venkatagiri Rao as Creative Head - India, as part of a significant step to solidify its creative capabilities. In his new role, Venkat will spearhead the office’s creative practice, which continues to form the foundation for the...

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/23/akhil%20%281%29.jpg?itok=j0PzdXlj
BankBazaar.com partners with Experian

BankBazaar.com, India’s leading financial marketplace, has announced its tie-up with credit bureau Experian to offer free credit monitoring service to customers, giving them a much better understanding of their financial footprints. Experian Credit Information Company of India Private Limited...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/23/Sonya-Sahni.jpg?itok=ZsNZItAs
Digital communication: Indepay hires Indigo iStrat

MUMBAI: Indepay Networks, the privilege prepaid card issuer and the pioneer of branch-less banking, has hired Indigo iStrat, Leo Burnett India’s digital wing, to manage digital activities after a multi-agency pitch.

MAM Media and Advertising Digital Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/story%20%281%29.jpg?itok=VIElq1RO
Dentsu stories create HarperCollins books

HarperCollins India is celebrating 25 years in India through a film that celebrates books. The campaign consists of a film that shows the journey of a novel. The novel titled 'Journeys Never End’ exchanges hands through the film. Dentsu One, HarperCollins joined hands to create this beautiful film...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/asci%20%281%29_0.jpg?itok=UZWVPhZn
AYUSH-ASCI to regulate advertisements

Progressing with the impetus towards supporting co-regulation in advertising, the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) has signed an MoU partnering with the Advertising Standards Council of India (ASCI).

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/shopclues-800x800.jpg?itok=JMeM8M6r
Mall wali quality, ShopClues wale prices

MUMBAI: ShopClues, one of India’s largest marketplace, is celebrating its fifth anniversary and it is doing so in an inimitable style between 19 and 26 January. After five years of success, which have seen ShopClues emerge as a prestigious Unicorn in India’s start-up landscape, the company is...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/db%20%281%29.jpg?itok=YMjHptsV
DB Corp's radio business numbers expand with network growth

DB Corp’s MY FM radio network now encompasses 26 live stations with the launch of nine new stations over the last two quarters of this fiscal (year ending 31 March 2017 or FY-17). DB Corp’s radio business revenue for the quarter ended 31 December 2016 (Q3-17, current quarter) increased 12.4...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/fcb%20%281%29.jpg?itok=bnPdV4pW
FCB Interface with Mahindra's 'joy of breaking free'

FCB Interface has launched a brand new campaign for Mahindra’s range of personal vehicles. Set to the tune of the original Live Young Live Free track from the first campaign, this film elevates it from a song to an anthem. Following is the link to the ad for your reference.

MAM Media and Advertising Ad Campaigns

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories