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Affle Group launches $3.3 million M2X fund

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Krystal
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NEW DELHI, INDIA: Affle Group, a leading smart media company, today announced the launch of M2X, a US$3.3 million fund, in association with the Mobile Marketing Association (MMA). M2X or Mobile 2x is set up to enable brands, publishers, agencies, app developers and entrepreneurs to create mobile assets, increase mobile ad spends and promote development of innovative technologies in emerging mobile markets with particular focus on India, Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore. This was announced at the Mobile Marketing Association Forum, India.

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M2X is an industry-first effort, spearheaded by Affle Group with the support of MMA, to fuel the growth of the mobile marketing ecosystem in emerging markets. Qualifying companies will be able to submit their applications to M2X to gain access to funds under two broad categories.

The first is dollar-for-dollar co-investment with advertisers, agencies and publishers for mobile asset creation and advertising campaigns that use mobile as a medium with Affle. The second is investment in start-ups or existing companies that are investing into technology innovation and IP creation in the field of mobile advertising.

Early applications from MMA members are open and for all other interested companies, applications are open from October 1st, 2013.

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"We see huge untapped potential for mobile advertising in developing Asian markets. Some significant bottlenecks we see the industry facing in this part of the world include lack of quality mobile assets, limited or no investments in mobile advertising by some brands and limited investments in technology innovation. Affle's M2X fund is a very unique sector-focused fund that will help grow the industry and help boost entrepreneurship in this domain." said Anuj Khanna Sohum, Founder and Chairman, Affle Group. "Through our dollar-for-dollar matching co-investment scheme, we plan to help qualified brands and publishers increase the value proposition and user traction of their mobile assets. Also through our entrepreneur acceleration program we are confident of providing a significant impetus to ad technology innovation in mobile-first markets."

"Half of world's mobile population is located in Asia, and a substantial portion of this is in emerging markets, meaning that the race is on to connect with the next billion consumers." said Rohit Dadwal, Managing Director, Mobile Marketing Association, Asia Pacific. "The launch of Affle's M2X fund comes at an opportune time to mitigate any reticence on the part of advertisers and publishers to add mobile to their media mix, particularly where budgets have been cited as a reason."

The launch of M2X is in line with Affle Group's commitment and determination to lead the change and drive growth for the mobile ad industry. This mobile ad fund will aid and assist all major stakeholders as well as industry players to capitalize on the opportunities in this market.

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