Capital18 exits India's Webchutney, sees 3x return
Capital18, the venture capital arm of Indian media conglomerate Network18, has sold its 70% stake in Webchutney Studio to Dentsu Media and Holdings India (DMHI), a subsidiary of Japanese advertising company Dentsu, generating a 3x money multiple.
Dentsu acquired another 10% from Webchutney's founders and other shareholders, taking its stake to a total of 80%. The financial terms of the deal were not disclosed. Webchutney is a digital creative...
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