Capital18, Goosefish Media Back Vertical Ad Network Firm
NetworkPlay.in, an audience focused vertical ad network company, has announced that it has raised undisclosed seed funding from Capital18 (Network18’s VC/PE arm) and Goosefish Media Ventures. The firm has also announced the launch of its first two verticals today, which will be travel and women. But the initial brand names of GoSindbad and DivaNation have been dropped.
NetworkPlay is targeting brand advertisers. In a release the firm said that the verticals are built around the company’s core philosophy of building categories around a specific audience base which can help brand advertisers reach their desired consumers effectively.
Though the travel vertical is operational now, the women portal will take time. The travel platform presently has 15 brands which include Geojit Financial Services Ltd, ICICI Wealth Management, Hyundai etc who are advertising on the other travel portals.
Other verticals it is looking at are - business, technology, news, shopping, social media, and entertainment - and will be launched by first quarter of 2009. The team at NetworkPlay constitutes of ex-Yahoo (NSDQ: YHOO) employees. Currently there are 8 people in the team in Delhi and Mumbai.
NetworkPlay is also developing proprietary ad serving platform that would focus on yield maximization for publishers in a bid environment. The launch of the platform will be in the second quarter of 2009.
Rammohan Sundaram, who was the National Sales Manager of Yahoo, is the founder and MD of NetworkPlay. He says that ad networks today sell inventory without differentiation and that is where NetworkPlay plans to step in. They plan to be much more transparent.
Another similar company in this segment is Bangalore-based Ozone Media. It raised first round of funding from IDG Ventures in June this year. Ozone offers customised service for advertisers across verticals such as news, financial services and entertainment. Their business model is to aggregate small and medium sized publishers who do not have their own sales force and sell the inventory to advertisers. In the US, there are companies like Federated Media (FMPub) and women’s ad network Glam Media (which was earlier this year valued at over $1 billion).
Internet advertising in India is expected to grow to Rs 1,000 crore by 2010. Some other companies active in this segment in India are - Komli (funded by Helion Ventures, DFJ and Nexus India Capital), Adchakra (by Percept Holdings), Interactive Avenues (Sequoia Capital India) and Tyroo (part-owned by Yahoo and Quasar). Martin Sorrell WPP has a 75% stake in Quasar.
Goosefish, a subsidiary of Webchutney, also runs websites as part of its potfolio. One is Alootechie, which writes about Indian online industry, and other is BombayBitch. Capital18’s most recent investment was series A funding of Ubona Technologies, a voice-based search company. It has also invested in Webchutney and some others like home shopping channel HomeShop18 and multiplex company Star Gaze.
This story was provided by our content partner VCCircle
Posted In: Advertising, Media & Publishing, Women-Centric Content, Money, M&A & Venture Capital, Venture Capital
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Comments (9)
Oct 16, 2008 7:20 AM
I wonder why did they drop GoSindbad and DivaNation. or did they jsut consolidate these to brands into one stream so that they can focuss on single network
Oct 27, 2008 9:05 AM
Everything online is becoming so crowded these days. I wonder how much mkt really is out there for so many ad networks that we keep hearing are mushrooming….and that too in a mkt where its practically google’s monopoly
Oct 30, 2008 8:45 AM
It seems that the investment in Ad Network model is not very bright… wrong leaders with little market potential for model. Any news how Cap 18 is doing overall so far??
Nov 10, 2008 2:11 AM
How come web18 is investing in with a person Like Mr Rammohan. I guess they should have done a proper cross check on his credentials. I have few details as I have known him and seen how he operates. Kindly do a through check before evn investing on his venture and ideas.
Nov 15, 2008 11:56 PM
This is so crazy. Dont you guys even feel a little embarrassed to comment slanderously about people who continue to do well in life?
I dont think it is easy to do something on your own and if someone does it, this Indian Internet Fraternity is not only jealous but can scooop down to any levels to accuse someone and hit them hard in public forum.
I request people to stop commenting slanderously about anyone.
Everyone has a family like you, so refrain!
Wrong leaders, checking credentials etc are comments of people who are themselves not capable of doing much in life but will comment on everything under the sun. It is ridiculous to doubt people like Ram is completely un called for.
Finally, all you people who are ill wishers of people who turn entrepreneurs - VCs do a thorough check, not just one individual but the entire team that they are backing. Their success in the past, building business as a capability, their record on their total experience in every company they work, people opinion in the market both at the clients side and agency’s side, their qualification, their involvement in finance management and references at senior level in the industry. All of the above is done through external agencies and unless there is a clean record noone gets any investment.
So enough of this!
Thank you!
Jan 8, 2009 1:45 PM
So many ad networks in the market. They basically confuse the merchant whom to trust and whom to ignore.
Mar 25, 2009 2:47 AM
we should have check the reviews in the online market before associating any new network, thanks http://www.airlineticketsindia.com
Mar 28, 2009 5:34 AM
It is a bad news for GoSindbad and DivaNation in the time of economic recession but Capital18 are looking at the better part of it.
May 29, 2009 6:18 AM
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