Mumbai-based advertisement technology firm Fork Media has acquired an undisclosed equity stake in WiFi ad network Spid, in line with its strategy of building an alternate ad inventory space and leverage Spid’s technology for the same.
Currently, Spid is present in over 1,200 locations including all major airports, restaurant and cafe chains such as McDonalds, KFC, Starbucks, and Costa Coffee. Fork Media will use Spid’s platform to know the a user’s location and deliver relevant advertising.
AdAge reports that this is Fork Media’s second acquisition. It had, in 2014, bought performance ad network ClickZoot. Fork Media CEO Samar Verma also told the publication that it could announce one more buyout over the next six-eight months.
Fork Media was founded by Verma and Upen Rai in 2013 as part Ant Farm, former Times Internet CEO Rishi Khiani’s incubator. Through its flagship platforms, it provides a suite of native advertising solutions for publishers that enables them to activate, deploy and manage ad placements across media properties. It claims to have publishers like HT Media, The India Today Group, The Hindu, and The Daily Mail on board its platform.
The company launched operations in Dubai in November last year, as indicated by this exchange4media report. It established partnerships with several publications in the GCC region including Sports360, Elle Arabia, Motivate Group and the Khaleej Times.
Other developments in the ad-tech space
– Earlier this month, Ad technology platform Adadyn (previously known as Ozone Media) launched a self serve programmatic ad platform for small and medium businesses (SMBs), where marketers can create, fund and launch campaigns (including retargeting).
– SVG Media’s mobile ad network Seventynine launched an in-app advertising platform called Appjacket PLUS which has over 40 controls for publishers and app developers and claims it will drive greater monetization for their ads.
– In August, Chinese mobile apps developer Cheetah Mobile said it would be launching an ad tech platform in India. The Cheetah Ad platfrom was launched in June this year and at the time, Cheetah Mobile’s mobile applications and its media ad network worked together to reach audiences. Cheetah Mobile had mentioned that it had 443.6 million monthly active users on its apps.
– In the same month, SVG Media bought the India business of Komli Media. Komli Media has around 100 people in Bangalore, Delhi, Chennai and Mumbai, and around 400-500 clients, and the acquisition would give SVG Media a reach of over 150 million Indian Internet users across screens.