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id8labs Looking To Raise USD 6-8 million!
id8labs which was formed after the break up between webpercept and Percept holdings is scouting for private equity investors and looking to raise upto USD 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 USA and hope to conclude the deal by June. We plan to raise USD 6-8 million in the first phase to expand our franchise in Indian and global markets through offices in Dubai, Singapore and Philadelphia.”
Currently id8labs is one of the larger standalone digital agencies with more than 100 employees on board and it has plans to double its workforce to 200 professionals in FY09.
As mentioned earlier id8labs was formed after Amit Tripathi, founder of NetWeb Solutions Ltd acquired 51% stake of Percept Holdings in WebPercept on March 29, 2007 and re-christened it id8labs. WebPercept was co-founded as a 51:49 joint venture in the early days of the dot-com era in 1999-2000.
Well just yesterday we blogged about Gulrez starting resultrix and this news on id8labs which was originally started as a joint venture with a large media firm and then its consequent solo ride and now the fact that its looking to raise 6-8 Million in PE money are all indications of the fact that the digital advertising space is better than its ever been and all players who have stuck to their guns over the last 6-8 years be it Webchutney or Quasar have been rewarded in one way or another. And one can only believe that the surface is just been scratched as far as the digital marketing opportunity is concerned. |
