Digital media agency Gozoop has acquired Digital media marketing firm Red Digital for undisclosed amount of funds to expand its footprints in India. With the acquisition, clients and employees of Red Digital will be consolidated under the Gozoop.
As per Ahmed Naqvi, cofounder, Gozoop, Red Digital acquisition will help Gozoop to double its revenues to reach INR 15 crore in 2013 fiscal year and will also double headcount to hundred.
Recently, extended its operations to Singapore, Gozoop gets its 65% of the revenue from overseas markets and with this deal it expects to get 50% of the revenue from the Indian market.
Founded in 2010 by Ahmed Naqvi, Dushyant Bhatia and Rohan Bhansali, Gozoop provides online marketing solutions to its clients. Its services include Social Media Marketing, Search engine optimization, online reputation management, Online advertising, Social commerce, Web design and Web development.
Few of the Gozoop’s clients include Pepperfry, Aldo, Puma and Gozoop recently has also got the digital media mandate for High Street Phoenix. Whereas, Red Digital currently manages digital and social media marketing of Mumbai Indians, Dell, Mirinda, BMW, Parker Pens, Berger Paints, Reliance Foundation, Discovery Channel, etc. and post the acquisition, Gozoop will manage the digital mandate for these brands.
Gozoop will also be increasing its presence in Delhi, Bangalore, Chennai and Kolkata in addition to its current presence in Mumbai, Dubai and Singapore. Over the next three years, Gozoop plans to utilise over USD 2mn to venture into international markets like USA, Australia & Qatar.
Recent acquisitions in the same space include, TO THE NEW acquired Techsailor, Japan’s Dentsu acquired New Delhi-based Webchutney, UK’s WPP Group picked up 51% stake in Mumbai-based Hungama’s digital media arm, etc.