Smile Vun Group’s Seventynine sold to Gruner+Jahr’s Networkplay

05 Nov,2012

By A Correspondent

 

Digital media conglomerate Smile Vun Group (SVG) and Gruner+Jahr’s (a Bertelsmann division) Indian entity, Networkplay, have announced the sales transaction of the mobile ad network, Seventynine.

 

Seventynine will be an independent business unit under the Networkplay umbrella, with its management reporting directly into the board. The co-founders of Seventynine, Chirag Shah and Deven Dharamdasani will continue to lead the business post the buy-out.

 

Seventynine was launched in April 2012 by Smile Vun Group with an extensive focus on rich media inventory especially videos and HTML5 to enrich user experience. The mobile ad-network recorded its first milestone in July 2012 when it clocked record growth by serving 700 Mn ad requests within three months of operation.

 

Seventynine is currently serving 1.8 Bn ad requests and focusing actively on building inventories across mobile applications and mobile web. Apart from a phenomenal ad-platform, Seventynine also possesses Seventynine App Analytics Service and Predictive Analytics Engine.

 

Manish Vij, Founder, Smile Vun Group, commented on the buyout, “SVG is committed to introducing path-breaking businesses in the digital media industry and accelerating their journey to success. Our seven months association with Seventynine has been extremely successful leading it to be the fastest growing mobile ad-network in India. Seventynine has great potential as a business and we are certain that its association with Gruner+Jahr will provide a global platform for the business to grow further. This alliance is the beginning of our relationship with Gruner+Jahr.”

 

Dr Torsten-Jörn Klein, President, Gruner+Jahr International said, “The expansion of Networkplay in the mobile space through the acquisition of Seventynine is clearly following our strategic commitment to grow our mobile business in the Indian market. G+J believes that in the Indian market, one of the fastest growing digital markets, the mobile segment will gain increasing importance. G+J is looking forward to further expand in that area together with Networkplay and the Seventynine team.”

 

Commenting on the development, Seventynine’s co-founders said, “We are excited about our association with Networkplay and being a part of the international Gruner+Jahr and Bertelsmann family. We would like to express our gratitude to Smile Vun Group for believing in our vision and goals and helping us grow at such a phenomenal rate. We are certain that association with Networkplay would be an impetus for our business and aid our objective of becoming the leading player in the mobile advertising space in India and beyond.”

 

Seventynine is G+J’s second digital acquisition in India after Networkplay, which was acquired by G+J earlier this year. Gruner+Jahr intends to strengthen its digital presence in the Indian market and Seventynine’s acquisition will help G+J and Networkplay fortify their competence and position in the mobile space. In the new group, Seventynine’s immediate focus would be technology, product and expansion in South East Asia and Middle East.

 

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