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Ozone Media Raises Funding From IDG Ventures; To Launch Video Ad Network, Expand Ops

(note: if the podcast doesn't work, pls download the file) Important: A key insight emerging from the interview is that Travel advertising in India has taken a significant hit in the past few months. Travel has been the largest advertiser segment, along-with finance. * Ozone Media was among the first advertising networks to launch in India, and yet it was the fourth in the queue to raise a round of funding - after Komli (Nexus India Capital, Helion Venture Partners and DFJ), Interactive Avenues (Sequoia Capital India) and Tyroo Media (Yahoo). IDG Ventures has picked up a minority stake in the company, and while Business Standard claimed that the investment is around $4 million, the company isn't commenting on the investment, or the stake that IDG has picked up, except that it is a minority investment. In an interview with Medianama.com (early this morning), Ozone Media Founder Kiran Gopinath discusses why they raised money - to scale up operations and adding more technology, and reach out to more advertisers. He refutes the claim that the company has been losing marketshare to funded ad networks, despite the companys presence being restricted to Bangalore and Mumbai, and an employee strength of 15. The company intends to open an office in Delhi, and will leverage IDGs connections with global ad networks for international campaigns. Gopinath also talks about what the company is offering to both advertisers and publishers, in terms of a differentiated product in a fast crowding ad-network space, and says that…

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