Interactive Avenues, a full service digital marketing company with offices in Mumbai, Delhi and Bangalore, has been engaged in conversations with various global holding companies for either a majority or complete sale of the company. Sources familiar with the development informed that Interactive Avenues is in conversation with at least three Holding Companies in this context.
As is known, Interactive Avenues already has a relation with Interpublic Group’s media holding company Mediabrands, where it has a joint venture in the form of Reprise in India. Anjali Hegde, one of Interactive Avenue’s founding partners, is heading the JV, Reprise Media, as its CEO. Mediabrands holds a 51per cent stake in the joint venture, while Interactive Avenues hold the remaining 49 per cent.
exchange4media could not get official comments from Interactive Avenues on the development but a source informed, “Given the existing relation between Interactive Avenues and Mediabrands, it is likely that Mediabrands will get preference over other companies but as of now, Interactive Avenues is speaking to other companies as well.”
Interactive Avenues was launched in April 2006. Its range of services includes media, creative, search analytics and mobile. The company website states: “We are funded by Sequoia Capital India, a leading venture capital firm in India whose investments include Applabs, First Source, Cafe Coffee Day, Global Logic, Indiatimes, Travelguru and Shaadi.com. Globally, Sequoia Capital has been an early investor in leading technology and Internet companies such as Google, Yahoo, Apple, Oracle, Cisco, Paypal and Youtube.”
Brand Mediabrands officially in India now through Reprise; a 51:49 JV between Mediabrands and Interactive Avenues