Madison Media has announced the completion of its 100% acquisition of HiveMinds, the performance marketing and e-commerce specialist agency in which it first acquired a 51% stake in 2017.
As part of the leadership transition, Deepti Bhadauria, previously Chief Strategy Officer and an integral member of HiveMinds’ leadership team for the past five years, has been elevated to CEO. She will report to Ajit Varghese, Partner & Group CEO, Madison Media. Jyothirmayee JT, Founder of HiveMinds, will continue in an advisory role.
A growth journey backed by Madison
Under Jyothirmayee’s leadership and Madison’s strategic support, HiveMinds has expanded revenues 12x since 2017 and built a reputation as a leading player in digital and performance marketing. The agency has curated three successful seasons of the Ecommerce Conclave, bringing together top industry voices, and has developed proprietary martech tools for measurement, attribution, and campaign management across retail and digital media.
Leadership voices
Jyothirmayee JT, Founder, HiveMinds, said:
“It’s been my greatest privilege as a founder to build HiveMinds from a bootstrapped startup into a digital marketing powerhouse. HiveMinds is built on a foundation of resilience and the relentless pursuit of excellence. Deepti’s deep understanding of our company’s DNA ensures that HiveMinds’ legacy of delivering exceptional results will continue stronger than ever. I am filled with immense pride and confidence as I hand over the reins, and I’m excited to see her take our collective vision and passion to new heights.”
Deepti Bhadauria, Partner & CEO, HiveMinds, added:
“Jyothi’s visionary leadership has shaped HiveMinds into an organization that consistently sets new benchmarks in performance, innovation, and talent development. It has been an honor to work alongside her in driving client success. As we move into the next phase, my focus is on amplifying this impact—delivering greater value, sharper innovation, and measurable outcomes that strengthen our clients’ market leadership. I am excited to lead HiveMinds, in partnership with Madison, through the fast-evolving media landscape of the country.”
Ajit Varghese, Partner & Group CEO, Madison Media & OOH, said:
“Hiveminds has been a remarkable growth story, scaling more than tenfold since our initial partnership in 2017. With this full acquisition, Madison is uniquely positioned to offer clients an integrated model that brings together brand building and performance marketing. As businesses increasingly seek measurable impact alongside strong brand equity, we are bridging the gap between storytelling and commerce. This convergence allows us to play across the full consumer funnel, from awareness to conversion. Our goal is to create future-ready solutions that deliver both growth and trust for clients. In today’s market, brand and performance are no longer separate conversations—they are one.”
Sam Balsara, Chairman, Madison World, added:
“I am immensely proud of what HiveMinds has been able to achieve in the last 8 years and the unique position it holds in the industry. I can see HiveMinds grow from strength to strength in the coming years.”
Clients and recognition
HiveMinds, part of Madison World, serves over 100 clients, including BigBasket, Axis Max Life Insurance, Titan, Jubilant FoodWorks, Tata Neu, Eureka Forbes, GSK, Crompton, Kenvue, and Boat. The agency has won over 50 awards in the last two years.
Madison World, through its 11 units, worked with 500 advertisers last year, further strengthening its integrated offerings across brand building, performance, and digital marketing.
