MAM
WPP buys digital agency AKQA
MUMBAI: Global advertising giant WPP is buying stake in San Francisco based digital agency AKQA, the last big digital shops not yet public or owned by a holding company.
Though the purchase price was not revealed, the digital agency is valued at $450 million and trade estimates peg the price around that figure.
AKQA is backed by private-equity firm General Atlantic and at the end of 2011 had gross assets of $282 million with a forecast of profits to the tune of $230 million in 2012 as opposed to $189 million in 2011.
The announcement was made during the annual Cannes Lions held in Paris, France. AKQA will continue to operate as an independent and standalone brand within WPP and be led by founder and CEO Ajaz Ahmed and chairman Tom Bedecarré.
Bedacarre will also become president of WPP Ventures, a new Silicon-Valley based digital investment company.
Two years back, AKQA was approached by Japanese media house Dentsu, but the latter soon exited the talks. According top media reports, the asking price at the time was between $550 million and $600 million which was also speculated to be the reason for Dentsu’s withdrawal.
WPP too tried twice before things finally fell in place.
AKQA currently employs 1,160 people all over the globe and has offices in U.S., Europe and Shanghai. It provides expertise in integrated digital communications campaigns, social media, mobile, gaming work, and content creation and has clients like Delta, Diageo, EDF, GAP, Google, Microsoft Xbox, Nike, Target, Unilever and Virgin Money.
Brands
Manindra Mohan joins CoinDCX as SVP & head – data & analytics
Former Amazon and Unacademy analytics leader to scale crypto insights
MUMBAI: India’s crypto exchange CoinDCX has appointed Manindra Mohan as SVP and head of data and analytics, bringing on board a seasoned data strategist at a time when the country’s digital asset market is entering a decisive phase.
In his new role, he will steer enterprise-wide data science, analytics and business intelligence initiatives. His mandate spans product, growth, risk and customer experience, with a clear brief to embed data-led decision-making into the company’s core as it scales across India and beyond.
Announcing the move, Mohan said he was “thrilled” to join CoinDCX, calling the Indian crypto market pivotal and ripe with opportunity. He thanked co-founders Sumit Gupta and Neeraj Khandelwal, along with Mridul Gupta, for the opportunity to help shape what he described as the future of finance.
He noted that architecting data solutions for a 24 hour global asset class presents a formidable challenge. Yet, he added, the chance to redefine financial access and drive crypto adoption “across every pin code in India” makes the task compelling.
Mohan arrives with nearly two decades of experience across technology, media and digital platforms. Before CoinDCX, he served as head of data science, analytics and BI at Carousell Group. Prior to that, he was SVP and head of analytics at Unacademy, where he built and scaled the analytics and insights function supporting product, sales, marketing and finance teams.
His earlier stints include heading analytics for Amazon prime video in India, where he oversaw data across product, acquisition, engagement and content, as well as serving as senior manager data sciences and advanced analytics at VMware and senior manager marketing and digital analytics at Dell Technologies. He began his career as senior business analyst at Cognizant, working on large scale crm and analytics implementations for global clients.
Colleagues describe Mohan as a builder of teams as much as models. From managing global analytics rollouts to leading large cross functional units, he has consistently combined statistical rigour with commercial instinct.
At CoinDCX, that blend could prove timely. As crypto exchanges navigate regulation, volatility and rising user expectations, data is no longer a back office function. It is the compass. With Mohan at the helm of analytics, CoinDCX is betting that sharper insights will translate into deeper trust and broader adoption in a market that never sleeps.
