Mumbai-based advertisement technology firm Fork Media has acquired an undisclosed equity stake in WiFi ad network Spid, in line with its strategy of building an alternate ad inventory space and leverage Spid's technology for the same. Currently, Spid is present in over 1,200 locations including all major airports, restaurant and cafe chains such as McDonalds, KFC, Starbucks, and Costa Coffee. Fork Media will use Spid's platform to know the a user's location and deliver relevant advertising. AdAge reports that this is Fork Media's second acquisition. It had, in 2014, bought performance ad network ClickZoot. Fork Media CEO Samar Verma also told the publication that it could announce one more buyout over the next six-eight months. Fork Media was founded by Verma and Upen Rai in 2013 as part Ant Farm, former Times Internet CEO Rishi Khiani's incubator. Through its flagship platforms,…
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