The acquisition will strengthen Zoo Media’s D2C capabilities and also will go along with its to-be launched global growth strategy
As part of the deal, The Starter Labs’ founders will join Zoo Media and work as managing partners while its employees will operate from Zoo Media offices
Including the current acquisition, Zoo Media owns 11 portfolio brands including FoxyMoron, Pollen, The Rabbit Hole, Mammoth and Noesis, among others
Mumbai-based advertising company Zoo Media has acquired marketing startup The Starter Labs for an undisclosed amount.
The acquisition will strengthen Zoo Media’s D2C capabilities and also will go along with its to-be launched global growth strategy.
Zoo Media said following the deal, The Starter Labs’ founders will join the advertising company and work as managing partners; while its employees will operate from Zoo Media offices across Mumbai, Bengaluru, and Gurgaon.
Founded in 2020 by Pratik Gupta and Suveer Bajaj, Zoo Media offers customised digital media and advertising services, ranging from video solutions to influencer marketing, to businesses across the globe.
Including the current acquisition, Zoo Media owns 11 agency brands–FoxyMoron, Pollen, The Rabbit Hole, Mammoth, Noesis, Phosphene, Doyen Oink, XP&D, TCM and Metaform.
“With Indian startups having raised 42 billion in 2021 across industries, this acquisition is a massive opportunity for us to leverage the consumer brand ecosystem and to partner with founders across industries at the early stage of their business life cycle. We are delighted to have great partners in The Starter Labs and welcome the entire team to Zoo,” Suveer Bajaj said.
Zoo Media’s clientele includes Netflix, P&G, Youtube, Kellogg’s and P&G, among others.
Meanwhile, The Starter Labs was founded in 2016 by Kartik Khanna and Rehan Dadachanji. The startup offers D2C marketing-focused solutions including performance marketing, marketing strategy and optimisation, tech solutions and digital content services to businesses.
The Starter Labs runs with 60 employees. As per the startup, it has worked with more than 250 brands such as Cosco, Bummer, Pahadi Local, Captain Zack, BookMyShow, Cartoon Network and DSP Mutual Fund, among others.
“Our philosophy has always been to work alongside brands as partners in order to impact brands’ bottom line through various stages of their life cycle. The acquisition gives us the ability to use Zoo Media Network’s big brand thinking for growth-hungry brands in order to set them up for sustainable scalability,” Kartik Khanna said.
In India, Zoo Media competes with the likes of McCann Erickson India, FCB Ulka Advertising and Mullen Lowe Lintas Group. Meanwhile, The Startup Labs faces competition from D2C-focused marketing firms Socio Labs, Commerce Centric and Voxturr, among others.
According to the Dentsu report, the country’s advertising and marketing market is pegged at $12.6 Bn in 2023. An Expert Market Research report states that the industry will reach $24.1 Bn by 2028, growing at a CAGR of 32.1% during the forecast period.