Published on 14 Oct 2019
After buying a majority stake in artificial intelligence-based education technology provider Embibe, Reliance Industries Limited (RIL) now plans to spend big dollars on its advertising and has picked up Happy McGarryBowen, the creative agency owned by Dentsu Aegis Network, for its digital and design duties, a source close to the development have shared with exchange4media. The account will be handled out of the agency’s Bengaluru office.
The source also shared that the brand should be closing deals in terms of its creative duties, too and is likely to pump in at least Rs 100 crore on the first phase of advertising to take on established players in the EdTech sector.
“Education was one of the missing pieces for Reliance Jio which has made the company venture into the edtech sector. To reinvent the sector, the company will now invest increasingly towards its marketing,” said the source.
exchange4media reached out to Reliance Industries Limited and Happy McGarryBowen, but couldn’t elicit a response until the time of filing of the copy.
Last year, RIL announced its plans to invest $180 million into the Bengaluru-based company over the next three years, which includes the consideration to be paid for acquiring the majority stake from existing investors. This is one of the biggest transactions in the Indian education and deep technology space and is the second major transaction undertaken by RIL in April, after the diversified conglomerate announced that it was merging its music streaming unit with Saavn India, creating a new entity deemed to be worth $1 billion.
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