In what could be the latest in the series of top deck movements in ad land, DDB Mudra Group CEO Vineet Gupta is believed to be turning into an entrepreneur.
According to well informed sources, Gupta is believed to be teaming up with the former chairman and CCO of Lowe Lintas, Arun Iyer in this new venture.
In September this year, the Mullen Lowe Lintas Group announced that Iyer has decided to move on from the agency and start a venture of his own. From January 2019, Iyer takes on a consulting role with the Mullen Lowe Lintas Group and is free to pursue his entrepreneurial ambitions. It's not clear if Gupta would opt for a similar arrangement with the DDB Mudra Group.
Gupta, a former India trade marketing lead for Microsoft advertising, had joined digital agency 22feet as a managing partner. The agency was later acquired by the DDB Mudra Group. He later moved up the ranks in the DDB Mudra Group to become chief digital officer of the group, before taking over as Group CEO in July 2017.
When contacted both Gupta and Iyer declined comment.
The new venture is expected to be in the form of a fund for start-ups that have already completed their Series A funding. (Series A or A round is defined as a start-up's first significant round of venture capital financing or the first time company's stock is offered to external investors). Apart from providing funds, the venture would also double up as a communication advisory to its investee partners.