wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Dentsu India Acquires 80% Stake In Webchutney

Update 2: Dentsu has informed (pdf) that as per the terms of the agreement, Webchutney will become a wholly owned subsidiary of Dentsu India by 2017. Dentsu also informed that Webchutney has registered a gross profit of 17.12 crore for the financial year ending March 2013. Update (May 23): Webchutney CEO Sidharth Rao has said in a blogpost that Dentsu has acquired 80% stake in Webchutney but the company will continue to operate independently in India. Earlier (May 23): Network18's venture capital arm Capital18 has inked (pdf) an agreement with Dentsu India group to offload its entire stake in the digital advertising agency and consulting firm Webchutney for an undisclosed amount. While the financial terms of this agreement were not disclosed, Network18 informed that this divestment was in line with its strategy of monetizing its investments and claimed the investment has generated a return of over 300% to the company. Network18 held 70.06% stake in the company, through its investment arms Capital18 Limited Mauritius which held 49.42% stake and Capital18 Fincap Private Limited which held 20.64% stake. We’ve been hearing about this development for a while and a report from December 2012 had suggested that Dentsu was in advanced talks to acquired Webchutney and had pegged the deal size to be between Rs 40 crore and Rs 60 crore. Capital18 had neither confirmed or denied this development to Medianama then. For the fiscal 2012, Webchutney had registered a profit of Rs 6.35 crore on total revenue of Rs 21.55 crore. This is Dentsu’s first acquisition in digital, although it had acquired a 51% stake in Mumbai-based Indian advertising agency, Taproot India, earlier this…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The Bill allows the Attorney General or any district/ city attorney to seek injunctive or other equitable relief against a large online platform

News

The tech giant made it clear it doesn't share data from organizations using Azure OpenAI and Copilot to third-parties or use it to train...

Google

Among the selected organizations are Quill.org and the World Bank, both known for their work in AI-powered tools.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ