G+J ups investment in Networkplay for digital growth
The newly injected funds are to aid product development, services in the digital advertising space, innovations and strategic acquisitions
Gruner+Jahr (G+J), the publishing division of European media conglomerate Bertelsmann SE & Co, is making substantial investments in digital firm Networkplay Media. The newly injected funds are to aid product development, innovations and strategic acquisitions.
Dr Joakim Naegele, Chairman, G+J India Board said, “India is the fastest growing market in our G+J portfolio. With this step, we show our dedication for the Indian market and belief in the digital space.”
As is known, in March 2012, G+J acquired Networkplay, the digital agency incubated in 2008 by Webchutney and funded by Capital18.
Sharing his view on the development, Kuldip Singh, CEO, G+J India said, “G+J is known in the market as a leading magazine publisher, but few know about our strategic commitment to digital as well. This further investment into Networkplay being our digital platform in the Indian market is a clear example of this.”
To trigger its growth in the digital and mobile arena, G+J has further invested in Networkplay for funding of new innovative products and services in the digital advertising space and acquire ground-breaking technology and business models within 2013, shared an official release.
Ampreet Singh, CEO, Networkplay added here, “I am delighted that our shareholders are investing further into Networkplay and are funding our innovative future endeavours. We will be soon making exciting announcements on our new steps.”
Today, Networkplay handles 500 campaigns across web, DTH and mobile. At present, Networkplay is associated with over 700 publishers and 300 advertisers.
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