Komli Media has promoted COO Prashant Mehta to the CEO position, with founder Amar Goel becoming Chairman of the online advertising network. Mehta will head the ad network (Komli) and the audience measurement business (Vizisense), across markets. Additionally, Komli has announced the launch of a new technology center in Bangalore, where it plans to hire 50 employees in the first 6 months. This announcement comes close to the heels of the company raising $15 million in a round of funding from Norwest Venture Partners, Nexus Venture Partners and Helion Venture Partners.
As we had reported, Komli didn’t do particularly well in the financial year ending March 31st 2010: according to their filing with India’s Registrar of Companies, for the year ending March 31st 2010, the company earned an income of Rs. 8,61,90,217, and incurred a loss of Rs. 6,81,70,538 (approximately $1.5 million). Since then, the company has expanded internationally, by acquiring PostClick. All these factors might result in better revenues for the company in the coming fiscal, though the increase in headcount and expenses incurred in setting up the training center might impact profitability.
– Komli Media Raises $15 M From Norwest, Existing Investors;$1.5 M Loss In FY10
– Komli Media Acquires Australian Site Rep Firm PostClick For Market Entry
– Komli COO Prashant Mehta On PostClick Acquisition; Vizisense To Go Freemium
– Ad Network Komli Media Raises $6 Million In Funding For AsiaPac Expansion
– Vizisense Launches Paid Features In India; Appoints Australia MD
– Buying To Sell? Komli Acquires UK Online Marketing Co Indoor Media