afaqs! was launched as agencyfaqs! on September 28, 1999 with a simple objective: to make easier the lives of professionals in advertising, media and marketing. Hence it was named agencyfaqs! - 'faqs' being Internetese for Frequently Asked Questions. Most of the brand-related questions that executives ask are answered on the site.

In May 2008 it was renamed as afaqs! The name was shortened to reflect the changing nature of marketing communications.

The prime movers behind the site are Sreekant Khandekar and Sandeep Vij. Sreekant was a journalist and the founding editor of A&M magazine before he quit to develop agencyfaqs! together with Sandeep. Sandeep has made his career in advertising and is now Executive Director, Mudra Group.

Seedfund is an investor in afaqs!