Smile Vun, G+J seal Seventynine buyout

Networkplay, Gruner+Jahr’s Indian entity, has acquired Seventynine. The mobile ad network will function as an independent business unit

e4m by exchange4media Staff
Updated: Nov 3, 2012 9:45 PM
Smile Vun, G+J seal Seventynine buyout

Digital media conglomerate Smile Vun Group (SVG) and Gruner+Jahr’s Indian entity, Networkplay, have announced the sales transaction of mobile ad network Seventynine.

Seventynine will be an independent business unit under the Networkplay umbrella, with its management reporting directly into the board. Co-founders of Seventynine, Chirag Shah and Deven Dharamdasani, will continue to lead the business post the buyout.

Commenting on the buyout, Manish Vij, Founder, Smile Vun Group, said, “Our seven-month association with Seventynine has been extremely successful, leading it to be the fastest growing mobile ad network in India. Seventynine has great potential as a business, and we are certain that its association with Gruner+Jahr will provide a global platform for the business to grow further. This alliance is the beginning of our relationship with Gruner+Jahr.”

Seventynine is Gruner+Jahr’s second digital acquisition in India after Networkplay, which was acquired earlier this year. Gruner+Jahr intends to strengthen its digital presence in the Indian market and Seventynine’s acquisition will help the Bertelsmann’s division and Networkplay fortify their position in the mobile space.

In the new group, Seventynine’s immediate focus would be technology, product and expansion in South East Asia and Middle East.

Speaking on the acquisition, Dr Torsten-Jörn Klein, President, Gruner+Jahr International, said, “The expansion of Networkplay in the mobile space through the acquisition of Seventynine is clearly following our strategic commitment to grow our mobile business in the Indian market. Gruner+Jahr believes that in the Indian market, one of the fastest growing digital markets, the mobile segment will gain increasing importance.”

For the record, Seventynine was launched in April 2012 by Smile Vun Group with an extensive focus on rich media inventory, especially videos and HTML5 to enrich user experience. The mobile ad network recorded its first milestone in July 2012 when it clocked record growth by serving 700 million ad requests within three months of operation.

Seventynine is currently serving 1.8 billion ad requests and focusses actively on building inventories across mobile applications and mobile web. Seventynine also possesses Seventynine App Analytics Service and Predictive Analytics Engine.

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