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Madison buys controlling stake in Bengaluru-based HiveMinds

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MUMBAI: Madison Media has announced that it has taken a controlling stake in Bengaluru-based performance marketing agency HiveMinds Innovative Market Solutions.

HiveMinds, which has a staff strength of 70 people, counts among its clients BigBasket, ABOF, ClearTrip and CloudNine Hospitals, among other. HiveMinds’ strengths have been in search, social, performance marketing and programmatic buying and specialize in eCommerce, Education & Travel.

HiveMinds, founded six years ago by Jyothirmayee JT, a pioneer in digital advertising in India with more than a decade of expertise in marketing, technology & data analytics, has led a critical role in digital marketing strategy & execution for industry leading startups like TutorVista, BabyOye, RedBus, TaxiForSure, Simplilearn & MobiKwik.

Besides successfully operating the Digital Agency business, HiveMinds has successfully leveraged their expertise in data driven marketing to develop a product INTUTEL, a market intelligence stack that combined with Madison’s programmatic platform CLEAR TRADE, will enable Brands to measure and improve customer interaction touch points necessary to influence purchases and thereby improving ROAS.

Madison Media already operates successfully in both Creative and Media spaces in the digital domain and many advertisers like Marico, Asian Paints, Godrej Properties, Tata Chemicals and ITC among many others use its digital services.

Says Jyothirmayee JT, “Partnering with Madison is a big next step in our journey. We have so far excelled as a digital first agency and played a crucial role in the growth of leading startups in India. Joining hands with Madison, we can take our digital expertise, technology driven marketing to larger brands and innovate in omni-channel strategies for our clients”

Says Madison Media partner and group CEO Vikram Sakhuja, “This is Madison’s exciting partnership to deliver data driven outcomes. HiveMinds brings exciting and bold innovation in data mining and uses it to dynamically improve performance. As a first, we look forward to uniting consumer intent, interest and purchase in driving media insights.”

Says executive director Lara Balsara, who identified HiveMinds and successfully concluded the agreement, “Marketers are embracing customer focused digital opportunities. I am delighted at the progress Madison Media is making in the Digital space in the last one year and having HiveMinds as part of us will further strengthen the way we partner with our clients in their digital transformation journey.”

Chief digital officer Vishal Chinchankar and strategic consultant Nagaraj Krishnamurthy advised Madison on the transaction and helped develop the integrated technology strategy.

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