Riding the technology wave, LS Digital scales new heights

The early 1990s marked a turning point for India’s economy, transitioning from shortages to opportunity following liberalisation. This era set the stage for LS Digital, a company that evolved from a small online business support venture into one of India’s leading independent digital transformation firms. Today, LS Digital manages over Rs1,500 crore in client media spends, employs more than 1,000 people across five countries, and competes with global giants. At its helm is founder and CEO Prasad Shejale, whose journey mirrors India’s technological ascent, from the Y2K boom to the rise of digital marketing.

Shejale’s career began in 1997 at Tata Infotech, where the Y2K challenge exposed him to large-scale operations. “What you learn from Y2K is how scale works,” he recalls. This lesson shaped his entrepreneurial mindset. By the late 1990s, the internet’s potential was becoming evident. At California Software, Shejale worked on exchange products for online futures and procurement. His role as country head in Australia provided a crash course in global sales, building credibility from scratch. The dot-com bubble burst, but the experience bolstered his confidence. Later roles at Mastek and Bigates, where he facilitated a financial exit through a U.S. acquisition, deepened his expertise in governance and project management.

In 2006, sensing the potential of India’s nascent internet economy, Shejale co-founded V2Biz (Value to Business), later renamed Logicserve, to support online retail. “The first problems were basic,” he says, citing challenges like setting up websites and marketing on Yahoo or Google AdWords. The company’s philosophy was simple: logic must serve the customer. This evolved into a broader mission: “Anyone who wants to use digital as a catalyst for growth, we help them.” By the 2010s, Logicserve was growing steadily, but its ambitions outgrew its initial scope. The rebranding to LS Digital signalled its readiness to guide enterprises through comprehensive digital transformation.

A pivotal moment came just before Covid-19, when a traditional enterprise client sought help to adopt digital strategically. This inspired LS Digital’s Digital Business Transformation (DBT) framework, a six-pillar model encompassing media, UI/UX, creativity, customer experience, technology, and data. Shejale emphasises the need for integration: “You can’t just run media campaigns if your website is broken. All six pillars must work together for true transformation.” This insight drove strategic acquisitions: F1 Studios (UI/UX), Langoor (CX and tech), and Social Panga (creativity), alongside the in-house development of Data Quark. These moves transformed LS Digital from a digital agency into a full-scale transformation network.

Financially, LS Digital raised Rs90 crore in 2022-23 through venture debt and equity from Florintree Advisors, led by former Blackstone India head Matthew Cyriac. The company now generates Rs200 crore in revenue across its six verticals. As Google’s largest independent partner in India and among the first to earn DCMP status, LS Digital has cemented its industry standing. Its client base reflects its success, with over a third using multiple services and a world-class Net Promoter Score (NPS) of 72 per cent.

LS Digital’s culture is a cornerstone of its achievements. Leaders from acquired firms – Venu and Girisha (Langoor), Santosh and Dhayan (F1 Studios), Himanshu and Gaurav (Social Panga) – and long-time growth head Rupak are recognised as co-founders. “They’ve all done the zero-to-one journey,” Shejale notes, highlighting the collaborative spirit driving the company. This culture, combined with a balance of strategy and execution, sets LS Digital apart in a crowded market. Unlike global networks or consulting firms that focus on advisory, LS Digital integrates strategy across its six verticals and executes with depth. “Many claim integrated marketing, but usually mean traditional plus digital media,” Shejale explains. “We execute across all six pillars.”

Looking ahead, Shejale envisions LS Digital as a global name in digital transformation within three to five years. He believes that while technology evolves, human behaviour remains timeless, a principle guiding the company’s approach. LS Digital’s journey reflects India’s broader digital evolution, leveraging the nation’s IT and internet revolutions to build a scalable, impactful business. Its DBT framework, strategic acquisitions, and execution-driven model position it uniquely to compete with global giants while maintaining a client-centric ethos.

LS Digital’s rise from a small venture to a digital transformation leader mirrors India’s economic and technological growth. Its six-pillar DBT framework, strategic acquisitions, and focus on execution distinguish it in a competitive landscape, with a vision to redefine global digital transformation.