DoubleClick aims to buy back DoubleClick Media, a JV between the company and Asiacontent within two to three years, according to Jitendra Valera, vice president, International of DoubleClick.
Valera said the buy-back plan is not related to recent market rumors that DoubleClick Media Asia’s majority shareholder Asiacontent is seeking a buyer.
“Right from day one, we established the name as DoubleClick, because the goal was within two years from now they will fall back into DoubleClick corporate,” said Valera.
Valera said the company entered the European market in a similar manner and many of the JVs in Europe were bought back within three years.
“I think we chose the right partner, if you look at the way we built up the business in the last 12 months, it was phenomenal. We entered all these markets, we have all these people and we create the brand name here,” said Valera.
Apart from Asiacontent, DoubleClick has also formed joint ventures with NTT and Transancosmos in Japan. Valera said the Japan JV is a different business and the company does not plan to buy back the company.
“The Japanese joint venture is a totally separate entity,” said Valera.
He said the Japanese partners have controlling interest of the JV and they are keen on listing the company in the Japanese market.
Valera added Japan is the most advanced market in Asia, contributing $11 million to the company in 3Q2000. He said currently the second largest market is Korea. Valera expected that within 12 months, China would become its second largest market in Asia.
He said currently the company has signed 21 customer agreements in China. He said these companies include Internet companies like Sina.com, Alibaba.com, and Yesite.com as well as traditional business like Legend, the Chinese computer manufacturer.
–By Sheila Lam, asia.internet.com
