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Follow UsNEW DELHI, INDIA: Yahoo India has picked up a minority stake in an Indian advertising company, Tyroo Media Pvt. Ltd.
“Yahoo India has picked up a stake above 35 per cent but less than 50 per cent in Tyroo, a self-served ad-network”, George Zacharias, managing director of Yahoo India, said at a press conference. “Through this investment Yahoo will act as a catalyst for the entire ad-network industry in India, which is still in a nascent stage. It will also signify our focus in Indian online advertising networks. Yahoo has recently developed an interest in online networks.”
The investment involved was not disclosed. The investment will enable Tyroo to access Yahoo’s knowledge of the Internet advertising business and help the latter to create a platform for scalable growth.
“There is a huge small and medium business market, which is being targeted by Tyroo. The market is underserved in terms of technology. Tyroo and Yahoo will look at strong ways to synergise in this space,” Zacharias said.
Talking on behalf of Tyroo, Harish Bahl, chief executive officer of Smile Group, promoters of Tyroo, said that the network is fully self-served and it would ensure Return of Investment (RoI) for the advertisers.
“The small and medium businesses are going to play a big role on changing the way of advertising. We have already 1200 leading publishers on board, and will concentrating on regional advertising also,” he said.
Bahl said Tyroo allows a user to place, text, video and rich media advertising on third party publishing websites. The network offers multiple targeting options, in terms of geography, contextual, behavioural, and cognitive. The company plans to offer newer ad-formats, enhanced customer support and greater flexibility to advertisers and publishers in managing campaigns.
“The cash infusion by Yahoo will be used to invest aggressively in technology and sales network to reach out to the vast number of small and medium sized advertisers and publishers in India. As part of our expansion plans, we will also treble our team size by end of this year. The partnership will also see Tyroo going global,” Bahl added.