MAM
WPP buys stake in motorsports marketing company
MUMBAI: Two months after forming a joint venture with IMG Worldwide, WPP is again propelling its sports-marketing capabilities.
WPP, the world‘s largest communications services group, has made a strategic investment in a motorsports marketing company, Just Marketing International (JMI).
WPP also owns a London-based sports-marketing firm Prism, and may look at other deals in the sector down the road.
JMI represents a broad portfolio of global brands with an established presence in all key international series, including Formula 1, NASCAR, IndyCar, The World Rally Championship and the major sportscar categories.
The financial details of the agreement are unknown, but Just Marketing has been valued at $100 million.
According to an official communiqué, the investment represents a strategic affiliation by both parties to leverage expertise and elevate client insights and solutions. JMI will have access to WPP‘s global network while providing a direct route for WPP clients to be introduced to motorsports.
Spire Capital, which took a majority stake in JMI in 2008, remains the principal shareholder and Brown the second largest shareholder. WPP takes a minority equity stake and has representation on the board of JMI, with the Credit Suisse Customised Fund Investment Group completing the shareholder group.
JMI CEO Zak Brown commented, “I am thrilled with WPP‘s investment in JMI. It represents a significant development for the company and an endorsement of our expertise from the biggest global player in the industry. The benefits to JMI, its people and most importantly our clients, will be substantial and I am excited by the potential of this alliance.”
WPP Director of Corporate Development Andrew Scott added: “We are strong believers in the marketing power of international motorsports for global brands. JMI is a leading company in the sector so this investment is a natural fit for WPP and will help to offer our clients exciting new opportunities in the field of motorsports.”
Last year, WPP reported revenue of $14.8 billion. The company has 146,000 employees in 2,400 offices.
WPP owns a number of the world‘s best known and most powerful advertising, public relations and market research networks, including Grey, Burson-Marsteller, Hill & Knowlton, JWT, Ogilvy Group, TNS and Young & Rubicam.
According to company officials, WPP handles $70 billion in advertising annually and does business with 340 of the companies on the Fortune 500 list.
MAM
Ameya Velankar steps down as Uber’s head of marketing for India & South Asia
Veteran marketer exits after more than seven years with the ride-hailing giant.
MUMBAI: After more than seven years of steering Uber through the bumpy roads of India’s mobility market, Ameya Velankar has decided to change lanes. Ameya Velankar has stepped down as Head of Marketing for India and South Asia, marking the end of a significant chapter at the ride-hailing company. He had been with Uber since 2019, taking on multiple roles in product and category marketing before rising to lead the marketing function for the region in 2021.
During his tenure, Velankar played a key role in strengthening Uber’s positioning in one of its most competitive and dynamic markets. He helped drive localised marketing strategies and scale adoption across key offerings such as Auto, Moto, Rentals and Intercity, tailoring global platforms to Indian consumer needs.
Prior to joining Uber, Velankar built his marketing expertise at leading consumer companies including SC Johnson and Marico, where he handled category and product leadership roles. His career began at RPG Enterprises.
Details of his next professional move have not been disclosed.
In a fast-evolving mobility landscape where brands constantly battle for attention, Ameya Velankar helped Uber stay relevant and resonant with millions of Indian users. As he moves on from the driver’s seat of marketing, the company will now look for fresh ideas to keep its wheels turning smoothly.
