Dev Batra is an NIT Surat and IIM Lukhnow alumnus with more than 10 years of experience with the likes of Ranbaxy and Sapient, while Nishith Srivastava is an MBA from Lucknow University with eight years of experience in digital media. Based out of Gurgaon, the duo got together early in 2013 to develop an ecosystem of digital media competencies to deploy the biggest advantages of digital media. They had seen the space evolve and it was time to create a bigger dent.
“NeoTurks is a digital advertising company that is building proprietary ad-serving technology platform, behavioural data platform and inventory aggregation to reach out to unique audiences in India, Asia Pacific and beyond,” says Dev. The media tech space is huge. The market size of digital advertising in India is around INR 3800 crore, according to the latest IAMAI Nielsen report and is growing at a CAGR of 35%. At the crux of it, the game is about delivering the right ads for the right brand at the right time to the right people.
NeoTurks has a bunch of products it has developed which include:
Lyxel: A digital ad network that helps clients targeting premium and luxury audience, business decision makers and women audiences. The aim is to deliver display advertising solutions to clients through partner publisher sites, access to high-quality inventory and ad-analytics.
Spidio: “At Spidio, we are pioneering the use of interactive ad-widgets and video formats to generate higher click-through-rates for advertisers,” says Dev. At the most basic level, Spidio runs video ads that lead to TG (target group) engagement and much better click-through rates. Spidio owns its video-ad serving platform and provides an end-to-end solution to the client. Spidio is also ad-monetization partner with several WiFi service providers in India. “We help monetize WiFi properties at all major airports in India as well and are now expanding our association to other retail and mall hotspots, including those at Starbucks, Costa Coffee etc,” says Nishith.
1Flamingo: Is the social media and digital creative agency working with several brands in India to provide creative solutions, technology solutions, social media management etc. The company has more than 10 retainership contracts at the moment.
A 35+ strong team based out of Gurgaon, NeoTurks started out with 1Flamingo, the digital consulting and solutions company, and has grown from there to focus more on products. There have been some very successful Indian companies across the digital media tech spectrum like Inmobi (Naveen Tewari on video), Vserv.mobi, Unmetric, Vdopia, Surewaves and the upcoming ones like Pokkt and TookiTaki. NeoTurks plays in the same domain with its range of products. The company has worked with several Indian and international clients, including Schneider Electric, Jaypee, National Geographic Channel, Skyscanner, Lufthansa etc. and has a run rate of INR 40 lakh/ month. The aim is to do at least a crore/month by March 2015. NeoTurks raised funds from friends and family initially and is now looking to raise a series A to scale up operations, sales reach and further build on their product capability.