Sandeep Goyal’s Mogae Media has announced the signing of an MoU for a joint venture (JV) with zeotap of Germany for programmatic advertising on smartphones.
The JV will bring to India a platform for highly enriched, profiled and targeted mobile advertising. The new company will see an equal participation by both Mogae and zeotap. The final financial structures are currently being worked upon.
“Programmatic buying involves a paradigm shift in the approach to digital advertising from the entire ecosystem - brands, agencies, publishers, not forgetting the availability and capability of technology platforms (demand side platform, supply side platform, data management platform) to execute the true potential of programmatic. Programmatic is an ideal technique to move marketing from a fragmented campaign-by-campaign paradigm to an always-on paradigm covering the entire customer lifecycle. With zeotap, we wish to do just that,” explains Sandeep Goyal, Chairman, Mogae Media.
Zeotap was launched in November 2014 by a team with extensive experience at Vodafone, IBM and Fyber (RNTS Media) as a data platform for leveraging the RTB advertising ecosystem. It recently raised Series A funding of US $6.4 million from Capnamic Ventures, Iris Capital (backed by advertising conglomerate Publicis and telecoms giant Orange) and prominent business angels including former executives at Nokia and Yahoo. Previous investors include the HitFox group and former executives at Deutsche Telekom, McKinsey, GfK and AOL.
“The new investment will be employed towards zeotap’s international expansion as well as to substantially grow our global technology centre in Bangalore,” elaborated Daniel Heer, CEO Zeotap, who is currently visiting India.
Adding to Heer’s comments, ProjjolBanerjea, co-founder and CPO says, “zeotap’s platform makes some of the most comprehensive ad targeting capabilities available to the mobile advertising market. We work with publishers and supply-side platforms to optimize yield as well as advertisers and demand-side players to make ad buying more efficient. The company operates in Europe and Asia.”
The Mogae-Zeotap JV platform will be live by September. A larger rollout is planned over the next 6-19 months.