What a time to start a mobile marketing company...HT Media has formed a joint venture with Velti Plc, a London Stock Exchange listed company, to provide mobile marketing solutions in India, reports Livemint, an HT Media publication. Velti has had the BRIC countries on its radar, and earlier this year, reached an agreement to acquire up to 50 per cent of CASEE, China’s largest mobile advertising exchange, for an investment of up to US $6 million. HT Media will hold 65% equity in the venture, which will be a subsidiary of HTs Internet subsidiary Firefly e-Ventures. Amit Garg, head of Firefly, will also head the JV, which will operate out of Gurgaon. Firefly also operates out of Gurgaon. This is the second significant strategic partnership for Velti - in 2007, they formed Ansible, a global mobile marketing agency with the Interpublic Group. Velti provides mobile advertising and marketing solutions to brands like Microsoft, GM, Coca Cola, Verizon, Bayer, Johnson and Johnson, Vogue Magazine, Mastercard, Colgate-Palmolive, Ferrero, Bacardi, as well as media companies like MTV, Disney, Associated Press, Fox Networks CBS and Real. Going through Velti's half-yearly financial report, I noted that Mobile Marketing and Advertising is largest segment, accounting for EUR 10 Million, platform services to enterprises accounted for EUR 3.2 Million, and platform services to operators accounted for EUR 2.6 Million. Download the report here. I do see a conflict of interest here, since in this case, a publisher also owns an agency. Velti and Firefly will find it tough…
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