News:

Melt Update | 8 May | Vista Equity Partners To Invest Rs 11,367 Crore Into Jio Platforms & MORE

Ritwika Gupta, May 8, 2020

In global news, Mark Wenneker, MullenLowe’s U.S. chief creative officer, is leaving the company, the latest high-profile agency executive to exit in recent weeks.

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Top Headlines Of The Day:

1. Vista Equity Partners To Invest Rs 11,367 Crore Into Jio Platforms

Reliance Industries and Jio Platforms announced today that Vista Equity Partners will be investing Rs 11,367 crore into Jio Platforms. As per exchange4media, Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms after Reliance Industries and Facebook. Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

2. Pratap Bose Steps Down As Chairman & Founding Partner, The Social Street

Pratap Bose, chairman and founding partner, The Social Street, has left the organisation. As noted by Campaign India, Bose had co-founded The Social Street along with Mandeep Malhotra in 2015. Prior to that, he was chief operating officer at DDB Mudra Group. He has also worked with Ogilvy.

3. Games24x7 Appoints Spring Marketing Capital As Brand & Marketing Partner

Games24x7 has roped in marketing consulting firm, Spring Marketing Capital, as its brand and marketing partner, according to exchange4media. The consulting firm, co-founded by Arun Iyer, will be responsible for Games24x7’s overall branding efforts and co-creating influencer marketing campaigns to strengthen brand positioning of its gaming platforms. Earlier this year, Games24x7 had appointed Siddharth Banerjee as Chief Revenue & Marketing Officer.

4. Mark Wenneker Exits MullenLowe U.S.


Mark Wenneker, MullenLowe’s U.S. chief creative officer, is leaving the company, as reported by Adage. The news comes just a month after the agency laid off 10 percent of its staff. Wenneker joined the IPG-owned agency in 2008, after a celebrated run at Goodby Silverstein & Partners.