So, it's official: Yahoo has sold its stake in Tyroo Media to Keith Nilsson's Xplorer Capital. Nilsson ran Yahoo's corporate development and emerging market operations for over 10 years, and in a statement, Tyroo founder Manish Vij says that Tyroo will look to expand further into APAC markets. While there is no information yet on how Tyroo did in the financial year ended 31st March 2011 (FY11), during the previous fiscal, the company had turned profitable. It reported, in FY11: - Total Income: Rs 6,35,50,942, up from Rs 4,02,39,761 the previous fiscal - Profit Before Tax: Rs 64,84,994, compared to a loss of Rs 1,83,84,731 the previous fiscal - Profit After Tax: Rs 61,26,020, compared to a loss of Rs 1,89,72,715 the previous fiscal During the same period, Tyroo competitor Komli Media had reported the following: an income of Rs. 8,61,90,217, and a loss of Rs. 6,81,70,538. Also, there appears to have been a restructuring at Tyroo: it operates Tyroo Direct, which is a performance based advertising network, focused on user acquisitions and enabling transactions, and Tyroo Audience, which is a rich media advertising network which is display focused. Yahoo had bought a 35% stake in Tyroo in an all cash deal in 2007, to get access to Tyroo’s ad inventory and publisher clients in the Indian market, and vice-versa. It recently exited Consim Info, the company that runs BharatMatrimony.com and Indiaproperty.com, and sold its stake to Bessemer Venture Partners, Mayfield Fund and Canaan Partners. There is word that Yahoo is also planning to exit CallEzee, a…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...