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Fork Media buys un-disclosed stake in Wi-Fi ad network Spid
MUMBAI: Digital ad solutions company Fork Media has acquired an un-disclosed stake in Wi-Fi ad network Spid Info Media.
As part of the partnership, Fork Media will leverage Spid’s technology for advertisers and publishers by offering the audience platform, targeting on-the-go consumers. It also aims to use Spid’s platform to leverage the locational behaviour of consumers and target them for relevant advertising.
The company said that the partnership is in line with Fork’s vision of becoming the leading player in the alternate ad inventory space and is synergistic with its vision of broadening its core offerings.
Fork Media CEO Samar Verma said, “Having Spid as a part of the Fork Media group is a strategic move for us. We see Wi-Fi as an alternative eco-system – a parallel economy, that’s growing rapidly. With the onset of 4G, a lot of telecom players are investing in Wi-Fi infrastructure to offset the costs involved in setting up 4G.
“Additionally, the Wi-Fi ecosystem takes location targeting to the next level by not only delivering relevant content to the consumer in and around a certain location, but also offering destination targeting. We are steering Fork Media to be less device-centric and more consumer centric in our ad solutions. Therefore, this is an extremely important link in the chain for us in the consumer’s journey.”
The acquisition of equity in Spid is a part of Fork Media’s larger expansion plans. It had recently made its foray into international markets with the launch of its operations in Dubai – targeting the GCC Region. The company believes that it is now better equipped to provide well-timed offers that consumers are seeking.
Spid CEO Harsh Nagpal said, “Our partnership with Fork Media is a marriage of strengths. Fork’s reach and expertise in business development will enable us to leverage this unique proposition, further enabling brands to reach out to relevant audiences. With Samar and the entire Fork team’s collective experience and expertise, we foresee Spid deriving maximum value and growing manifold.”
Spid has a bouquet of over 1,200 locations including all major airports, QSRs like McDonalds, KFC, Starbucks, and Costa Coffee, malls and other retail locations. This number is growing as it partners with ISPs and telecom providers to help monetise their inventory.