BackLS Digital enters UK, eyes Europe and US markets
Pawan Wankhede has been appointed as business head to lead operations in the UK. LS Digital aims to replicate the success it has seen in the Middle East and Africa (MEA) regions.
PremiumMumbai: LS Digital, formerly Logicserve, an Independent digital marketing transformation company, is pursuing its ambitious global expansion strategy, with its entry to the UK market, following a successful foray into Middle East and Africa (MEA) regions post covid. The company is also looking at Europe and US markets for further growth, co-founder and chief executive officer Prasad Shejale, said in an interview.
To spearhead its operations in the UK, LS Digital has appointed Pawan Wankhede as business head. With over 18 years of expertise in digital marketing strategies and content, Wankhede will play a pivotal role to offer the firm’s capabilities in digital marketing transformation to businesses in the UK. Before joining LS Digital, Wankhede served as CEO of programmatic digital marketing firm, VidRule, for over seven years.
“We envision LS Digital becoming a global player in the DMT space. To realize this vision, we appointed an industry veteran like Pawan to take over the reins of the UK operations and replicate the growth seen in the MEA region," said Shejale.
In two years, the MEA market has started contributing 8-10% to LS Digital’s revenue. According to Shejale, within two years, international operations will account for 15-20% of the company’s revenues.
“We have a significant presence in Europe, specifically in UX and CX verticals. Now, we will expand focus, with the UK as base and Pawan at the helm, to include entire DMT solutions, which comprise media, creative, D&I, innovation and tech."
Following the acquisition of three agencies, including Langoor Digital, F1 Studioz and Social Panga, it has a team of over 1,500 employees, and serves international clients including Lenovo UK, Scion, Pianoworks, Abott, Deutsche Telekom, Barclays UK, and BridgeWave in UK and Home Depot, Carnegie Mellon, Clopay, Bosch, Infy, TM, Wipro, Dominos, and Moneygram in Europe.
Last year, LS Digital had raised ₹140 crore in two funding rounds, including ₹80 crore from Florintree Advisors and ₹60 crore in a round led by Phaneesh Murthy, Bhupinder Singh and Karan Bhagat. The company had also raised ₹75 crore in venture debt from BlackSoil.
The company is also planning to tap into the capital markets with an initial public offering (IPO). Shejale said LSGroup could look at a listing 18-24 months from now. “IPO is definitely in our plans…it will allow us the opportunity to go global with access to the capital markets. We are already a scrumptiously profitable company and we have also fast-forwarded our plans to integrate the merger of all the companies we have acquired into the group. We have the skill and are now looking at scale. We have very high growth ambitions, we want to be a $1 billion company very soon," he added.
At present, 65% of LS Digital is owned by the founders, friends and family members, while 35% is with investors. Shejale said all acquisitions so far, include a cash and equity component, and the founders of acquired companies get a stake in LS Digital.
“It’s a shared vision, and once we go public, the great value will be unlocked and everyone will have a part in it. The company still has an appetite for acquisitions," he said.
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