Yahoo has exited online ad network Tyroo Media, and is close to selling its 35% stake in the company to growth equity fund Xplorer Capital, reports The Times Of India. There is no official statement from the company yet, however, VC Circle has confirmed the deal, without quoting a company representative. Tyroo co-founder Manish Vij informed MediaNama that the company will make an announcement in a day or two, although he refused to confirm or deny the development.
Yahoo had bought a 35% stake in Tyroo in an all cash deal in 2007, to get access to Tyroo’s ad inventory and publisher clients in the Indian market, and vice-versa. The Times of India report adds that Yahoo also intends to sell its 30% stake in Info Network Management Company, which owns voice based directory search service CallEzee. Yahoo had acquired the stake in 2008 and had launched a Local Search product.
Yahoo had recently exited Consim Info, the company that runs BharatMatrimony.com and Indiaproperty.com, and sold its stake to Bessemer Venture Partners, Mayfield Fund and Canaan Partners. Media reports had claimed that the company received a valuation of $190 million in the deal.