wordpress blog stats
Connect with us

Hi, what are you looking for?

GroupM acquires majority stake in The Glitch

Group M, a media buying agency owned by WPP, has acquired a majority stake in digital ad agency The Glitch. The size of the deal was not disclosed. The Glitch will continue to operate as an independently positioned brand, The acquisition will continue GroupM’s growth strategy in one of the world’s most dynamic economies, and offer clients access to a wide portfolio of leading-edge digital marketing services and holistic content solutions, WPP said in a press release. The Glitch will continue to operate as an independently positioned brand. Its co-founder and creative chief Rohit Raj and co-founder and content chief Varun Duggirala will join the GroupM leadership team. The Glitch’s revenues for the year ending March 31, 2017, were around Rs 214 million with gross assets of around Rs 175 million. Its clients include Unilever, Netflix, OYO Rooms, Shutterstock, Tinder and others. It full-service capabilities are digital, video and content strategy, interactive design technology, e-commerce, branding and media planning. The Glitch was founded in 2009 and employs around 200 people in Mumbai and Delhi. The investment will also continue WPP's strategy of focusing on three key areas that differentiate the Group's offering to clients: technology, data and content. WPP's digital revenues were over US$7.5 billion in 2016, representing 39% of the Group's total revenues of US$19.4 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next four to five years. Digital represented 41% of WPP’s revenues as of June 30, 2017. In…

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

Free Reads

News

Amazon and Flipkart are opposing untested ex-ante regulations modeled according to the EU Digital Markets Act in India, saying the current system is already...

News

As per a report, Apple has been testing its own large language model (LLM) since last year but its technology remains behind the AI...

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

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