Mumbai based digital agency Gozoop, which recently expanded its global presence by setting up operations in Singapore, has today announced the acquisition of Red Digital, an Indian social media agencie. With this business acquisition, clients and employees of Red Digital will be consolidated under the Gozoop brand, thus fortifying the latter’s Indian operations.
Gozoop was incepted in the year 2010 by three friends: Ahmed Naqvi, Rohan Bhansali and Dushyant Bhatia. The business consists of three verticals – Services, Products and Web Properties. (Gozoop Services: Social Media Marketing, Online PR, Search Engine Marketing & Optimization, Media Buying, Web Design & Development and Mobile Applications. Gozoop Products: Two properties- Zozolo Social Loyalty and Zozolo Social Commerce have been launched).
The acquisition is in line with Gozoop’s strategy of increasing the revenue contribution from its Indian operations. Over the past few years, Red Digital has worked for several marquee brands such as Mumbai Indians, Dell, PepsiCo, BMW, Parker Pens, Adidas, PVR, etc.
Gozoop’s growth plan
The acquisition of Red Digital will play a pivotal role in Gozoop’s global expansion in terms of operations and client portfolio. Currently, 65% of Gozoop’s revenue is attributed to its international operations in UAE & Singapore. Post the acquisition and with a total of 65+ retainer clients, Gozoop aims to double its Indian revenue in the next financial year. Gozoop’s domestic operations will now contribute close to 50% of revenues, an increase of 50% from earlier. The acquisition will also increase the employee strength of the company to about 100 members.
Following the deal, Gozoop will increase its presence to Delhi, Bangalore, Chennai and Kolkata in addition to its current presence in Mumbai, Dubai and Singapore. Over the next three years, Gozoop plans to utilise over $2mn to venture into international markets like USA, Australia & Qatar.