Interactive Avenues: Anupam Mittal’s first investment as an angel investor

Anupam Mittal's investment in Interactive Avenues in 2007 propelled the company to success in India's digital marketing landscape. Similarly, the acquisition by IPG Mediabrands in 2013 solidified its position as an industry leader.

By  Storyboard18Mar 11, 2024 9:48 AM
Interactive Avenues: Anupam Mittal’s first investment as an angel investor
Due to his early and substantial investment, Anupam Mittal eventually became the largest shareholder in Interactive Avenues. Subsequently, Sequoia Capital joined the venture. However, as the landscape grew more competitive over time, distinguishing viable opportunities from the noise became increasingly challenging, necessitating more thoughtful decision-making. (Image source: Moneycontrol)

Anupam Mittal, the founder and CEO of People Group and Shaadi.com, and a prominent investor on Shark Tank India, is widely recognized for his strategic investments in renowned startups and unicorn companies such as Ola Cabs, BigBasket, Druva, among others. Recently, the investor recounted his initial investment journey during an episode of CNBC-TV18's 'I Did It My Way'.

Mittal’s first foray into investing occurred in 2007 with Interactive Avenues, one of India's premier digital marketing agency. Unfamiliar with the concept of 'angel investing' at the time, he amusingly associated angels with posthumous beings. This investment eventually blossomed into his most successful venture yet, as Interactive Avenues evolved into India's largest digital advertising agency.

When four employees from the digital ad agency pitched him services, it sparked Mittal's conviction that India required a prominent digital ad agency. Convinced of the idea's potential, he offered to fund their venture. During a layover at the airport, Mittal wrote them a check, emphasising his strong belief in the concept and the market demand. As the investment was at an early stage, its success depended heavily on the individuals involved and market dynamics.

Due to his early and substantial investment, Mittal eventually became the largest shareholder in Interactive Avenues. Subsequently, Sequoia Capital joined the venture. However, as the landscape grew more competitive over time, distinguishing viable opportunities from the noise became increasingly challenging, necessitating more thoughtful decision-making.

Interactive Avenues proved to be Mittal's most lucrative investment in terms of cash inflow and outflow. Due to his sizeable ownership stake and the company's growth, the exit yielded significant returns. The success of this investment underscored the benefits of being bold and driven by passion, with Mittal reflecting on the favour fortune often extends to the naive and hungry.

Interactive Avenues, a pioneering force in India's digital marketing landscape, traces its roots back to its inception in April 2006. Founded by Amardeep Singh, Anjali Hegde, Ratish Nair, Shantanu Sirohi, and Sunil Miranda, the company swiftly emerged as a frontrunner in offering comprehensive digital marketing solutions. With a diverse bouquet of services including media, creative, search, analytics, mobile, social, and ORM, Interactive Avenues quickly became the preferred choice for blue-chip companies across various sectors.

Throughout its journey, Interactive Avenues garnered significant attention from investors and industry observers alike. Notably, WestBridge Ventures II Investment Holdings and Anupam Mittal were early supporters, providing crucial backing during the company's formative years. Their strategic investments facilitated Interactive Avenues' expansion and solidified its position as a market leader in India's dynamic digital marketing landscape.

In a landmark development in 2013, Interactive Avenues made headlines by striking a deal with IPG Mediabrands, the global media holding company of Interpublic Group. The acquisition marked a significant milestone for both parties, showcasing IPG Mediabrands' commitment to bolstering its digital capabilities in the Indian market. Interactive Avenues continues to play a pivotal role in shaping India's digital marketing ecosystem, catering to a diverse array of clients and solidifying its status as a trailblazer in the industry.

First Published on Mar 11, 2024 8:18 AM

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