To signify its growing focus in the Indian online advertising networks, Yahoo! today announced an over 35% investment in Gurgaon-based Tyroo Media, , an advertising and public relations company and part of Smile Interactive Technologies Group. The deal size was not disclosed.
The move comes as part of Yahoo's strategy to invest aggresively in technology and sales networks through small and medium-sized advertisers and publishers in India.
George Zacharias, managing director, Yahoo! India said: “Through this investment, Yahoo! will act as a catalyst for the entire ad-network industry, which is still in a nascent stage, in India.” The investment gives Yahoo Inc a representation on the Tyroo board.
“The global knowledge and experience that Yahoo! brings will help us scale our business. The funding raised will be used to further enhance our
ad-serving technology, build a world-class team, and gain market share
through reaching out to hitherto untapped advertisers and publishers in
India,” said Harish Bahl, CEO, Smile Group.
The Yahoo! initiative is expected to help Tyroo to create a platform for
scalable growth through Yahoo!'s knowledge of the Internet advertising
business. Tyroo plans to set up up sales offices across the country and
triple its team size by the end of this year. Tyroo currently has over 1,200 registered publishers across the country.
Source : Business Standard