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/2016/12/09/in-mobie.jpg?itok=4UWv0gI7
InMobi looks to monetise Tapjoy's inventory in India

MUMBAI: InMobi, a global mobile advertising and discovery platform,has recently partnered with Tapjoy, a platform for mobile advertising and app monetisation, to monetise Tapjoy’s inventory in India.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/alto.jpg?itok=uHS9cRhT
Alto Delhi Comic Con 2016 begins, on till 11 December

NEW DELHI – Alto Delhi Comic Con 2016 organized by Comic Con India began today and has a lot in store for comics enthusiasts and audiences inclined towards popular culture. The 3 day fest which started today at NSIC Grounds, Okhla will be on till December 11’ 2016. This is the biggest pop culture...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/RS-Kalsi.jpg?itok=TlmMLA85
Maruti Suzuki, Ola tie up to train drivers

MUMBAI: Maruti Suzuki India has signed a memorandum of understanding (MoU) with Ola to train aspiring drivers-partners. Under the 'Maruti Ola Training Program,' the company aims at benefiting 40,000 Ola partner-drivers in safe driving, over a period of three years.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/sansui-star.jpg?itok=k272kPMd
Sansui unveils #WalkTheRedCarpet contest ahead of Stardust Awards

MUMBAI: Sansui has announced a contest for all the movie buffs ahead of this year’s Sansui Colors Stardust Awards. Called #WalkTheRedCarpet, the winners will get an opportunity to walk the red carpet at the awards night with their favorite celebrity. The contest which would run on Facebook and...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/GioneeS6_0.jpg?itok=g8U0rRa6
Mobile+Services replace FMCG as top advertisers in BARC week 48

BENGALURU: As per BARC week 48 data on top 10 brands Across Genre: All India (U+R) : 4+ Individuals, Mobile hand sets and Services replaced FMCG as the top advertisers in the list with 43.88 percent of the insertion in BARC’s top 10 list for week 48 (Saturday 26 November 2016 to Friday 2 December...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/naresh.jpg?itok=sgeWsbwM
Span Communications wins IBA Cyber Security mandate

MUMBAI: Span Communications has won the media and creative mandate of Indian Bank’ Association’s campaign on Cyber Security Awareness in a multi-agency pitch. The media campaign ran during the International Cyber Security week, starting 30 November, 2016.

MAM Media and Advertising Account
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/Happydent.jpg?itok=A8c497IH
Happydent: Smile Please, kids

MUMBAI: Leveraging the fact that 'smiles are contagious', Happydent has teamed up with Smile Foundation, an NGO that works with underprivileged children, for a new campaign called 'Happydent Smile Please.'

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/Rohan-Bhansali--Co-founder-%26-Director%2CGozoop.jpg?itok=bYyZYHEN
Gozoop wins media duties of Regal Shoes

MUMBAI: Gozoop has bagged the media duties including digital and creative for Regal Shoes. The agency will be managing the rebranding of the shoe brand across all media platforms.

MAM Media and Advertising AD Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/Shan-Jain.jpg?itok=1EcE8RyE
GroupM's Shan Jain joins Publicis Media India

MUMBAI: Former GroupM executive Shan Jain has joined Publicis MediaIndia as the head of business transformation practice. Jain’s last stint was with GroupM, as Principal Partner, Client Leadership at Mindshare.

MAM Media and Advertising People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories