Mumbai-based digital marketing platform Monk Media Network said on Monday it has acquired SocialGIZ, a boutique social media and website development agency. The entire SocialGIZ team of 10 people will join Monk Media, the company said in a statement.
SocialGIZ built campaigns and websites for clients across sectors, the statement said. The founder of SocialGIZ, Ameya Adhikari, will join Monk Media Network as a member of the board and hold the designation of vice-president - finance.
Speaking on the acquisition, Ashish Patkar, Founder and CEO, Monk Media Network, said, “We are looking to add great people to our ecosystem. The team at SocialGIZ has been doing some great work. Ameya coming on board is a huge plus as every startup needs robust financial systems to scale.”
Founded in 2016, Monk Media Network’s clients now include the likes of Flipkart, HDFC Bank and Hindustan Unilever Ltd. It offers services such as content creation, media strategy, deep analytics and video production for social media.
The digital marketing segment has seen a number of other acquisitions of late. Affle International Pte Ltd announced last week its acquisition of RevX Inc, a US-based mobile advertising platform.
Early last month, Seattle-based digital marketing platform IntellaSphere said that it had agreed in principle to acquire Mumbai-headquartered Edgytal.
Mumbai-based social media marketing startup At raised $330,000 from angel investors in a funding round from investors including Anupam Mittal, the founder of People Group.