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Percept Media Sells Stake In WebPercept; Earmarks $10 Million For Acquisition

By Sahad PV - Thu 05 Apr 2007 07:13 AM PST

Percept Media is launching its own new media agency, while it has announced its exit from WebPercept, the online communication solutions specialist unit it had jointly floated with Netweb Solutions in 2000. According to a report in Indiantelevision.com, quoting a release from Percept, the company has sold its majority stake to Netweb, and has also withdrawn the name ‘Percept’ from WebPercept. Netweb has renamed the firm as id8labs.
Percept will now launch its own company - Percept New Media - or acquire one. It has earmarked a budget of $10 million. Percept has also retained the right to use the brand name WebPercept in its future ventures in the ‘new tech media’ domain. This may span across online and interactive communications including gaming, mobile and net.
Update I: Amit Tripathi of id8 Labs (NetWeb Solutions) tells The Economic Times that the newly carved id8 Labs intends to “invest $5 million in the next 12-18 months through internal accruals, promoter funding and strategic investments to expand its franchise in India and global markets through offices in Dubai and Singapore”. id8 Labs claims to have Rs 20 crore in billings. NetWeb has bought the 51 per cent stake held by Percept Holdings in WebPercept.
Update II A PTI report - based on industry estimates - puts the NetWeb’s acquisition price at Rs 4-5 crore ($1 million).

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7 Responses:
  • From Pravin Kumar Fri 06 Apr 2007 12:58 AM

    Sahad, one must go behind the story and find out why after so many years Percept split away from one of it’s oldest group companies. Considering that Percept is a 2000 crore plus conglomerate - WebPercept was contributing less than 1% to the coffers. The kind of work was substandard and while most online agencies moved to newer areas the erstwhile WebPercept puttered around with inane things based on the whims of a very incompetent leader and a coterie culture. Agencies that behave like a family business will always find it difficult to survive

  • From Pritam Sat 07 Apr 2007 01:51 AM

    Hi, seems to me that quite a interesting move. Anybody knows who separated from whom. Looks to me that this is one side of the story. Know personally both sides, and belive its a posetive thing keeping in mind that percept never stand by its joint ventures and seen quite a upheel in this front in last two year. By the way the total online industry is going to be benefited keeping offline agency out from its back.

    Guys three cheers Agency 2.0 or shuld I say id8 Labs.

  • From Ryan Sat 07 Apr 2007 02:47 AM

    the pot calling the kettle black? is that you amit tripati pretending to be pritam? atleast get your english right!!!

  • From sunila Niar Sat 07 Apr 2007 04:13 AM

    Too many dumbs in the industry. The total industry is 230 cr so 20 cr doesn’t make it bad. People who have no loyalty and corrupt should not comment on issues, that are not their cup of coffee. As for family running a business is concerned, Percept if you don’t know are still run by brothers. Sitting at Brista and doing Nautanki will not change the fugitives fate. So start working and bother more about .tv

    How many companies have to kick you in ur ##% for make you understand your worth.

  • From Arjun Khanna Sat 07 Apr 2007 05:50 AM

    First Aegis Left Percept Holdings and not WebPercept Leaves Percept group of companies..... whats happening here.... Way to go percept.... Industry is moving so fast acquiring different companies and Percept Holding is doing just the opposite..... God knows what are they upto… anyways....lets see what happens….

    NetWeb Solutions aka WebPercept aka id8 Labs are really the underdog of the online industry… they have bagged big accounts last year ….. and looking very aggressive … guys we need to watch them..

  • From anant rangamswamy Sat 07 Apr 2007 08:59 AM

    Well they have bagged big accounts too big for their pockets not delivered and then have lost bigger. $5 million in the next year is a dream come true for them. They do not seem to have made that much as of today and unless there’s a magic wand out there this industry just does not see them getting anywhere. They already seem to be in a cash crunch picking up any odd jobs they can get. Guess time will tell whether this Laboratory (id8labs) will survive its own experiment.

  • From tanmay mohanty Fri 29 Jun 2007 07:00 AM

    it is the true what is said about the coterie culture. sometimes great leaders have visions that lead their organisations on path of victory. other times leaders who thinking they are great makes mistake of surrounding by yes-men and women. they are doomed to fail.
    samajhdar ko ishara kaafi.

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