Last August, Spray and the American Internet advertising company Razorfish Inc. formed the new company Spray Razorfish Network. Shareholders in Spray and Razorfish each acquired 50% of the equity in the company.
However, the name Spray Razorfish is viewed as cumbersome and the business will now be divided so that Razorfish becomes a focused Internet consulting company while Spray will serve as a consumer-orientated gateway, similar to the American company Yahoo!.
Spray has asked Stockholm-based ad agency Storakers to plot a long-term growth strategy for the company and spotlight Spray's new consumer-oriented profile. The account is worth $4 million.
Copyright March 1999, Crain Communications Inc.