Smile Vun Group Seals the Buyout of its Mobile Ad-network, Seventynine
Smile Vun Group Enters Into an Agreement with Gruner + Jahr and Networkplay...
Seventynine is one of India’s fastest growing mobile ad network that was launched in April 2012 by Smile Vun Group with an extensive focus on rich media inventory especially videos and HTML5 to enrich user experience. The mobile ad-network recorded its first milestone in July 2012 when it clocked record growth by serving 700 Mn ad requests within three months of operation.
In an announcement yesterday, Smile Vun Group (SVG), the digital media conglomerate, and Gruner + Jahr’s (a Bertelsmann division) Indian entity, Networkplay sealed the sales transaction of the mobile ad-network- Seventynine.
Seventynine will be an independent business unit under the Networkplay umbrella, with its management reporting directly into the board. The co-founders of Seventynine, Chirag Shah and Deven Dharamdasani will continue to lead the business post the buy-out. Seventynine is currently serving 1.8 Bn ad requests and focusing actively on building inventories across mobile applications and mobile web. Apart from a phenomenal ad-platform, Seventynine also possesses Seventynine App Analytics Service andPredictive Analytics Engine.
Manish Vij, Founder, Smile Vun Group, commented on the buyout “SVG is committed to introducing path-breaking businesses in the digital media industry and accelerating their journey to success. Our seven months association with Seventynine has been extremely successful leading it to be the fastest growing mobile ad-network in India. Seventynine has great potential as a business and we are certain that its association with Gruner+Jahr will provide a global platform for the business to grow further. This alliance is the beginning of our relationship with Gruner+Jahr.”
Seventynine is G+J’s second digital acquisition in India after Networkplay, which was acquired by G+J earlier this year. Gruner + Jahr intends to strengthen its digital presence in the Indian market and Seventynine’s acquisition will help G+J and Networkplay fortify their competence and position in the mobile space.
In the new group, Seventynine’s immediate focus would be technology, product and expansion in South East Asia and Middle East.