Recently launched full-service media company, Media Lounge has acquired Mumbai-based creative consultancy Origin Beanstalk Creative Consultants.
Origin Beanstalk was set up 10 years ago by Shom Mazumdar and Upendra Singh Thakur. The agency currently has a 55-member team.
Mazumdar said, “We have organically grown from strength to strength in the last 10 years by creating a very strong foundation and investing in our processes, people and product offerings. We have created a profitable and sustainable environment for growth and have been literally growing with our clients, most of who have been working with us for more than seven years now. These strong relationships and learnings with our nimble-footedness have helped us grow even during slowdown.”
Thakur said, “As per the normal standards of the industry, it takes about a decade for any agency to mature and get over its teething problems to create sustainable processes and develop industry expertise. This merger is the natural next step towards scaling our business and commencing our growth phase. While many investment companies and media houses haves shown interest in us in the last 14 months, the proposal from media lounge is what came across as a perfect fit that will help us scale-up the way we foresee our growth path and help us move up the value chain.”
Manajit Ghoshal, co-founder, Media Lounge, said, “I have closely interacted with Shom and Upendra in my former stint with a publication house and I quite liked their sound strategic approach, infectious energy and out-of-the-box thinking. While forming Media Lounge, I instantaneously thought about Origin Beanstalk and keenly approached them for the opportunity. With Media Lounge, the timing is right, the fit is right. And I see them play a key role in helping Media Lounge complete the full-services circle, thus making Media Lounge one of the most buzzing and sought after full service media group in this part of the world."
Media lounge was co-founded last month by Manajit Ghoshal and Amardeep Singh Vig, the owner of Ronak Advertising. Media Lounge is in process to acquiring other specialist agencies across various verticals in three months, informed an agency statement.