Mumbai-based digital media company To The New has acquired Singapore-headquartered social media analytics company Thoughtbuzz. Though the exact amount of deal remains undisclosed, Puneet Johar, MD, To The New, said the value is between $2 million and $5 million. This is the second acquisition by To The New in less than two months. In July 2013, it acquired Techsailor, another Singapore-based digital marketing company.
Founded in 2009, Thoughbtbuzz provides social media monitoring for organisations, brands and products. Its platform enables brands to interact with their customers and brand ambassadors across the web, and provide social media analytics in a number of languages (English, Chinese, Japanese, Korean, Thai, Bahasa Indonesia and Bahasa Malaysia). The company was founded by the duo of Anshul Jain and Ashok Patro, both of whom will now join the management team at To The New.
Talking about the growth strategy, Johar said while the company has been big on inorganic growth, it is not its only focus. He said the company has been growing organically at 60-65 per cent monthly. He also mentioned that it is open to future acquisitions, saying, "Anything that provides services in the consumer internet space and is catering to Asian markets is a potential acquisition for us."
Founded in 2010, To The New is owned by Four Cross Media Ltd, a strategic investment firm that acquires and incubates digital media startups in India, ASEAN and Middle East regions. According to Johar, To The New has over 100 clients across Asia in sectors like automobiles, banking, financial services & insurance, e-commerce, fast-moving consumer goods, retail, sports, hospitality and media & entertainment. It employs nearly 400 people and has offices in Mumbai, Noida, Chennai, Singapore, Kuala Lumpur and London.
(Edited by Joby Puthuparampil Johnson)