Mumbai-based digital marketing agency Monk Media Network, on Monday, announced the acquisition of SocialGIZ, a boutique social media and website development agency, for an undisclosed sum.
Monk Media has absorbed SocialGIZ's entire team of 10, as well as its services that pan social media, website development, and media planning.
Started by Ameya Adhikari in 2015, SocialGIZ has built campaigns and website for clients across sectors. Post acquisition, Ameya will join Monk Media Network as a member of the board and hold the designation of Vice President – Finance.
Speaking on the announcement, Ashish Patkar, Founder & CEO of Monk Media Network said,
“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."
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Sharing his views, Ameya stated,
“I am really excited to be a part of Monk Media Network and their team. We are looking forward to a great future and hope to do some kick-ass work for all of our clients.
Founded in 2016, Monk Media Network offers a bouquet of services panning across content creation, media strategy, deep analytics and social media video production.
Recently, another Mumbai-based social media marketing startup @ (pronounced ‘AT’) secured $330,000 through a consortium of marquee angel investors, including Anupam Mittal (Founder of shaadi.com, makaan.com & Mauj Mobile), Dharti Desai (Founder and CEO of Finewinesandmore.com), and existing investor Hardik Zaveri (Founder and Director, 8finity Global). The funding valued the company at $1.25 million. It is now in talks with a few venture capital firms and is aiming for a valuation of $10 million in its next round.
@, which was started off as a social media service for restaurants in New York two years ago by Armand Poonawala, now provides end-to-end social media marketing solutions to startups and corporates in India too.