Midday Infomedia has acquired SnatchKing, a company which was powering print classifieds on the web for a number of media businesses, including the Times Group (Mumbai Mirror), Dainik Bhaskar and Midday itself. Snatchking also runs SnatchKing.com, a site with classifieds for 23 cities, which appears to have been left untended, and is over-run with ads for spam (see this link for “get paid for online ad posting ads”. How ironic)
This primarily looks like a backward integration, and a buyout of a tech solutions provider, rather than the acquisition of a classifieds business. We checked and SnatchKing is also powering a city guide for Midday. We’ve asked Midday for some perspective on the reasons behind this acquisition, because on the face of it, SnatchKing doesn’t appears to have much worth acquiring, a classifieds lead generation platform called “ResponseCenter” which incorporates patent pending technologies notwithstanding.
Midday Infomedia – print and online business, not the Radio business – itself was acquired by Jagran Prakashan in May this year. Jagran has two digital companies – J9 ventures which runs classifieds businesses Khojle.in, and jeetle.in, and MMI Online which runs Jagran Junction and JagranShop.com
(Update: mentioned that the Radio business was not acquired by Jagran)