Mumbai-based Fork Media acquires majority stake in Inuxu
Ad tech company Fork Media has announced a majority stake acquisition of Inuxu Digital Media Technologies, a digital ad technology platform.
“This investment allows us to continue to develop our technology and offer our clients a platform which is customised to their requirements. We are committed to partnering with companies that have built complementary products with our business and that strengthen our market position, enhance our portfolio and add strategic value,” says Samar Verma, Founder, Fork Media.
He adds that the platform’s proprietary audience data and inventory marketplace platform Adgebra uses highly advanced mathematical algorithms to generate custom audience segments and deliver precise campaigns paired with engaging elements. These creative innovations provide digital ad campaigns with unmatched brand engagement and recall value. Inuxus’ capabilities also include offering a service layer on top of the product, which caters to an entire spectrum of publishers, advertisers, campaign managers and media planners under a single platform.
The consolidation will allow Fork to steer their media business and offer strong data-led solutions across an audience of more than 50 million monthly unique visitors. Additionally, this will leverage existing offerings as distribution channels for brands to engage with their target segment. With this investment Fork will be the largest in-image advertising platform in the APAC region purely in terms of inventory volume, according to the release.
Launched in 2013, Inuxu claims to have showcased tremendous growth and success in the ad tech world. It has over 150 clients including American Express, Wai Wai Noodles, Horlicks, Gillette, Lava Mobile, SOTC, Cadbury, along with many premium publications.
“Inuxu and Fork are able to create niche market for themselves in highly competitive and infamous ad tech space. We believed that this is the right time to complement and play on each other's strengths. Our combined services will offer an extensive portfolio to the customers, and our synergies will help both the companies to take a step closer to our shared vision of providing an incomparable value to partners,” says Rohit Bagad, Founder and CEO Inuxu.
Market and industry
According to a report by GroupM, a global player in digital advertising, the advertising revenue in India was to touch $8.1 billion (approximately Rs 49,000 crore) in 2015, a 12.6-percent growth over 2014.
The FICCI-KPMG Advertising in India Report 2014 says that the advertising revenue in 2018 will touch Rs 63,000 crore by 2018. Of the total revenue, Rs 10,220 crore will come from digital advertising alone.
YuktaMedia and Sokrati are the few other names that are leveraging the technology to make the ad segment more interesting.