MUMBAI: Yahoo! Inc. has made a 35 per cent investment in Indian company Tyroo Media Pvt. Ltd, which is based in Gurgaon.
Tyroo, a part of Smile Interactive Technologies Group (Smile Group), is a self-serve ad-network offering advertising solutions for both advertisers and publishers. The company has over 1200 registered publishers across the country.
Yahoo! India managing director George Zacharias said, Ã¢â‚¬Å“We are happy to partner with Tyroo as it gears towards gaining significant market share in the Indian online advertising industry. Through this investment, Yahoo! will act as a catalyst for the entire ad-network industry in India which is still in a nascent stage. It will also signify our increasing focus in Indian online advertising networks.Ã¢â‚¬Â
The investment is expected to enable Tyroo to access Yahoo!Ã¢â‚¬â„¢s knowledge of the Internet advertising business and help Tyroo create a platform for scalable growth.
The cash infusion by Yahoo! will be used to invest in technology and sales network to reach out to the small and medium sized advertisers and publishers in India. Tyroo plans on offering newer ad-formats, enhanced customer support and greater 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 and triple the team size by the end of this year. In connection with this investment, Yahoo! Inc will be represented on the board of the company.
Smile Group CEO Harish Bahl said, Ã¢â‚¬Å“It gives me great pride that Yahoo!, one of the leaders in the online media, technology and advertising space, has invested in our business. The global knowledge and experience that Yahoo! 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 through reaching out to hitherto untapped advertisers and publishers in India. The investment by Yahoo! is an indicator of the confidence which they have reposed in the Tyroo team and its vision for growth.Ã¢â‚¬Â