Madison Media fortifies digital biz, acquires majority stake in HiveMinds
Madison Media has taken a controlling stake in Bangalore-based performance marketing agency, HiveMinds Innovative Market Solutions, which has a staff strength of 70 people and counts among its clients Big Basket, ABOF, ClearTrip, and CloudNine Hospitals, among others. HiveMinds’ strengths have been in search, social, performance marketing and programmatic buying and specialising in e-commerce, education and travel.
HiveMinds, founded 6 years ago by Jyothirmayee JT, a pioneer in digital advertising in India withmore than a decade of expertise in marketing, technology & data analytics, has led a critical role in digital marketing strategy and execution for industry leading start-ups like TutorVista, BabyOye, RedBus, TaxiForSure, Simplilearn and MobiKwik.
Besides 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 advertisers like Marico, Asian Paints, Godrej Properties, Tata Chemicals and ITC, among many others, use its digital services.
Jyothirmayee JT commented, “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.”
Vikram Sakhuja, Partner and Group CEO, Madison Media and OOH, remarked, “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.”
Lara Balsara, Executive Director, who identified HiveMinds and successfully concluded an agreement with the company, added here, “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.”
Vishal Chinchankar, Chief Digital Officer, and Nagaraj Krishnamurthy, Strategic Consultant, advised Madison on the transaction and helped develop the integrated technology strategy.