Gruner + Jahr (G+J), the media company, part of Germany’s Bertelsmann group, which acquired ad network, NetworkPlay, earlier this year, has appointed Ampreet Singh, one of the co-founders of Networkplay, as the CEO of the company. The appointment follows the exit of Rammohan Sundaram, the Founder of the company and former chief executive. According to a statement from the company, Sundaram’s exit is by mutual consent. Sundaram also acknowledged his move in a blog post.
Prior to co-founding Networkplay, Singh worked with Nokia Interactive Advertising, Yahoo India, Tribal DDB in leadership positions. According to the company, in his new role as CEO, he will be responsible for the overall strategy and direction of Networkplay’s business.He will also continue his current duties as Vice President Distribution & Client Servicing and Production Director of Ad:Tech India at Networkplay in addition to his new role.
The move comes just two days after Gruner + Jahr announced the acquisition of Smile Vun Group backed mobile ad network Seventynine, and making it an independent business unit under the Networkplay umbrella.
Networkplay was founded by a team of ex-Yahoo India employees, Rammohan Sundaram, Sunil Punjabi, Ampreet Singh and Viren Anand, and incubated in 2008. The venture was incubated by WebChutney, and funded by Capital18. The company has around 30 employees in three offices – Mumbai, Delhi and Bangalore. It was fairly late into the ad network game, after Ozone Media, Komli, and a few others, and among these, the first to be bought. It also publishes a digital marketing site imediaconnection.in* and organizes Ad:Tech in India in partnership with dmg events.
*Disclosure: imediaconnection covers digital marketing, and hence competes with MediaNama
– NetworkPlay FY12 Revenue At Rs 19.84 Crore, Net Loss Of Rs 2.88 Crore
– Exclusive: Ad Network NetworkPlay Acquired By Bertelsmann’s Gruner + Jahr
– SeventyNine Launches Mobile App Analytics Service
– Manish Vij & Harish Bahl Incubate Mobile Media Platform SeventyNine