Media company ScoopWhoop has acqui-hired video delivery and ad targeting platform Touchfone Technologies in a cash-and-stock deal, reports TechCircle. Financial details of the deal were undisclosed.
Post acquisition, Touchfone co-founders Mahesh Subramanian and Brahmayya Akella will be appointed as chief technology officer, and chief integration officer at ScoopWhoop respectively. The team of 12 members from Touchfone will now operate out of a Bangalore based office to focus on improving personalisation and monetisation through user targeting on ScoopWhoop.
These hires are ScoopWhoop’s third top level hire in two months – last month the company had appointed Meghana Bhat as its chief strategy officer. Bhat would be responsible for the brand in the B2B space, content marketing and native advertising with brands and advertisers.
Note that Touchfone has ceased independent operations, and its website now only displays a message stating ‘Strmeasy is now a part of ScoopWhoop’. Touchfone was a part of Microsoft Ventures’ 2014 batch, and had a product called Strmeasy.
In November last year, the portal raised $4 million in a round of funding from Kalaari Capital, which it would use to expand ScoopWhoop Talkies, its video production unit. At that time, it claimed to have over 20 million unique visitors with over 70 million page views and 10 million video views per month. In November 2014, ScoopWhoop raised $1.6 million from Bharti Softbank (BSB) in exchange for a 36.5% stake.