Yahoo! India has announced a significant equity investment of over 35 per cent in Tyroo Media Pvt. Ltd. Gurgaon-based Tyroo is a part of Smile Interactive Technologies Group, and is a completely self-serve ad network offering advertising solutions for both advertisers and publishers.
The cash infusion by Yahoo! will be used to invest aggressively in technology and sales network of Tyroo to reach out to a vast number of small and medium-sized advertisers and publishers in India. With this investment, Yahoo! Inc will be represented on the board of Tyroo.
George Zacharias, Managing Director, Yahoo! India, said, “We are happy to partner with Tyroo as it gears towards gaining significant market share in the Indian online advertising industry. Yahoo! will act as a catalyst for the advertising industry in India. The investment will enable Tyroo to create a sustainable and growing platform, and the company will be able to leverage Yahoo!’s strengths.”
Tyroo plans to offer newer ad formats, enhanced customer support and greated flexibility to advertisers and publishers in managing campaigns. Tyroo plans on differentiating itself by its knowledge of local requirements and on-ground support in both pre- and post campaign phases. As part of its expansion plans, Tyroo expects to set up sales offices across the country anf triple the team size by end of this year.
Harish Bahl, CEO, Smile Interactive Technologies Group, said, “It gives me great pride that Yahoo! has invested in our business. The global knowledge and experience that Yahoo! brings brings will help us scale our business. The funding raised will be used to further enhance our ad serving technology, build a world class team, and gain market share to reach out untapped advertisers and publishers in India.”
Bahl added that Tyroo would be developing its own advertising clients and publisher network. With Yahoo!, Tyroo aims to attract international advertisers, and take Tyroo global. Bahl also said that the money will be used for growing the sales team, targeting the SME segment, and to improve the technology platform.