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Id8Labs plans to raise $6-8 million through private equity

Digital marketing agency id8Labs is planning to raise about $6-8 million through private equity in the next three months. The company is also planning to double its workforce from the current 100 employees to 200 professionals by March 2009.

Digital marketing agency id8Labs is planning to raise about $6-8 million through private equity in the next three months. The company is also planning to double its workforce from the current 100 employees to 200 professionals by March 2009.

Amit Tripathi, managing director, id8Labs, has said, “We have appointed Viedea Capital Advisors to assist us in our fund raising plans. We are currently in talks with some private equity firms in India and US and hope to conclude the deal by June. We plan to raise $6-8 million in the first phase to expand our franchise in Indian and global markets through offices in Dubai, Singapore and Philadelphia.”

“In our first year of operations, we have grown the business franchise to $9 million through acquisitions and consolidation of businesses of other NetWeb Solutions group companies. Post consolidation, id8 Labs is now India’s first fully integrated online and digital media agency offering proprietary research, online creative and content solutions, search engine marketing, media solutions along with behavioural targeting and CRM,” Amit Tripathi has added.

Amit Tripathi, founder of NetWeb Solutions, co-founded WebPercept as a 51:49 joint venture in 1999-2000. Later he acquired the 51 per cent stake of Percept Holdings in WebPercept in March 2007 and re-christened it id8Labs.

In October 2007, id8Labs also acquired the business franchise of eDesign Tree in India and launched id8Labs Global in association with eDesign Tree in US. Following the acquisition, Amit Shrivastava, co-founder of eDesign Tree, took over as CEO of id8labs Global.

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