Top Story

e4m_logo.png

Home >> Marketing >> Article

id8Labs plans to raise $6-8 million through private equity

12-April-2008
Font Size   16
id8Labs plans to raise $6-8 million through private equity

Digital marketing agency id8Labs is planning to raise up to $6-8 million through private equity in the next three months.

Confirming this, Amit Tripathi, Managing Director, id8Labs, said, “We have appointed Viedea Capital Advisors to assist us in our fund raising plans. We are currently in talks with some private equity firms in India and the US, and are hoping to conclude the deal by June. We plan to raise $6-8 million in the first phase to expand our franchise in Indian and global markets through offices in Dubai, Singapore and Philadelphia.”

id8Labs, which currently has 100 employees on board, plans to double its workforce to 200 professionals in FY09.

Viedea Capital Advisors, Bangalore-based boutique investment bank, focuses on early and growth stage companies, especially in areas such as Mobile VAS, Internet, Retail, IT/ITES and Life Sciences.

“In our first year of operations, we have grown the business franchise to $9 million through acquisitions and consolidation of businesses of other Netweb Solutions group companies. Post consolidation, id8 Labs is now India’s first fully integrated online and digital media agency offering proprietary research, online creative and content solutions, search engine marketing, media solutions along with behavioral targeting and CRM,” Tripathi added.

Tripathi, founder of NetWeb Solutions Ltd, had earlier acquired 51 per cent stake of Percept Holdings in WebPercept on March 29, 2007, and re-christened it id8Labs. He co-founded WebPercept as a 51:49 joint venture in the early days of the dot-com era in 1999-2000. Later in October 2007, id8Labs also acquired the business franchise of eDesign Tree Inc in India and launched id8Labs Global in association with eDesign Tree in the US. Amit Shrivastava, co-founder of eDesign Tree, has taken over as CEO of id8labs Global.

id8 Labs currently has verticals like UTI MF, Maruti Zen, HSBC, HDFC Standard Life, Colgate, Crompton Greaves, RPG Group, Essar, DuPont, iflex, etc.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The aim is to advance the company’s goal of simplifying its business and drive deeper service connectivity to its clients