Gushcloud Marketing Group (the marketing unit of Gushcloud International) and DSTNCT have released a joint statement announcing digital agency DSTNCT’s independence from Gushcloud Marketing Group. The two first merged forces early 2019 in a bid to build deeper integrated marketing and influencer marketing strategies together.
Over the past year, both companies have worked together on multiple campaigns such as National Youth Council (NYC)’s SHINE Festival and 5-Hour Energy’s launch in the local market. During this period, the founders of Gushcloud International also announced a full buyback from Yello Digital Marketing Group, and raised a significant S$15 million from strategic investors including entertainment mogul Russell Simmons and Korean Bank Investments, announcing the group’s focus and foray into entertainment.
An exclusive statement to Marketing said that “both businesses today have become better positioned in their respective industries, more profitable, efficient and primed for growth”. Hence, both companies now believe that the best path moving forward is to separate DSTNCT from Gushcloud Marketing Group.
The statement elaborated that the move allows DSTNCT to be “independent and chart its own path in the digital consultancy” industry, while the Gushcloud moves forward with its global expansion plans in the digital talent marketing and entertainment industry.
Althea Lim (pictured second from left), group CEO of Gushcloud International, explained that as Gushcloud focuses deeper into the talent and entertainment industry, and builds on newer initiatives in the performance marketing and live commerce space, “this move of independence will represent the best path for DSTNCT as it moves deeper into its core focus of digital consultancy and social media marketing”.
“We believe that DSTNCT under the leadership of Matthew Zeng (pictured second from right) and Mikal Chong (pictured most right), will grow to become a key player in the regional marketing industry. We will continue to engage with DSTNCT on various projects as we unlock more value for our brand clients,” Lim said. She added that the move will also drive substantial operational performance for both companies and will also unlock a stronger valuation upside for both companies as they have been valued at different metrics.
Moreover, by separating these two companies, DSTNCT will be able to deepen its expertise in digital marketing and to provide more data driven solutions for their brand clients, Zeng, managing director at DSTNCT added.
“With the global pandemic, we are seeing many brands take that huge step in futurising their marketing and communication efforts. It's of utmost importance that we move with speed and efficiency during these times. This speed and efficiency has allowed both companies to make certain strategic pivots for our clients, as we continue to help brands build crucial touch points to stay relevant. DSTNCT and Gushcloud have long enjoyed a close working relationship. This move of independence does not mean we are going our separate ways, but really being apart together as both companies continue to excel in their own respective fields,” Zeng added. Prior to the merger, DSTNCT has worked with clients such as National Youth Council for the SHINE Festival, AIA Singapore, Capitaland Malls, National Arts Council for Singapore Art Week, Grab Singapore, Riot Games (Hyperplay) and Ngee Ann Polytechnic.
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