Digital ad-tech firm Fork Media has acquired a majority stake in audio advertising company Rappio Advertising Pvt. Ltd. This acquisition marks the entry of the company into large-scale audio-based advertising.
Following the acquisition, Rappio Advertising team will also join in Fork Media’s sales and technology teams and will operate out of Fork Media’s headquarters in Mumbai, where as the founder and CEO will lead the business division.
About the startups:
Rappio is a Mumbai-Based startup founded by Nirav Shah, Sahil Mehta, Ishan Doshi and Anuj Shah. The startup offers digital audio advertising platform which gives Measurable ROI to Advertisers and Monetary benefit to users. The startup replaces the ringtone of users mobile phone by a brand/advertisement jingle and the end benefit for every call. The main purpose of Rappio as a Digital Audio Advertising Platform is to give brands a new platform to market themselves and create a new category in digital space.
Commenting on the deal, CEO and Founder Nirvan Shah said, “Fork Media and Rappio have a common vision for innovating and driving the advertising experience through alternative inventories in the digital medium. With their experienced leadership, innovative products and proven expertise, we think it’s a perfect fit to take Rappio to the next level.”
Fork Media is a Mumbai-based company that leverages online, mobile, and video platforms to create solutions for advertisers and publishers. The company leverages cutting-edge machine learning, computer vision and big data solutions to create contextually relevant advertising for brands across publisher mediums. This enables publishers to unlock alternative revenue streams and advertisers to create richer brand messaging to the right target audiences.
Fork Media CEO and founder Samar Verma, “Rappio can cause a disruptive opportunity for brands to take their radio spends into the digital medium with a high degree of measurability, targeting, and transparency.” He further added, “We have always believed in collaborating with the best minds in the ad tech space and have been able to deliver many differentiated offerings to brands through our past acquisitions.”
This is the third acquisition by Fork Media. Earlier, the company has acquired other ad tech platform which includes Inuxu Digital Media in September 2016 and Spid Info-Media in October 2015. Read more about Indian Startup Ecosystem.