Mumbai based online ad network company Komli Media has acquired 100 per cent stake in the UK based online advertising firm, Indoor Media. Komli Media was working with Indoor Media as its strategic partner for the past two years.
Indoor Media is a three year old company. It owns an ethnic online ad network named AdMasala, which enables advertisers to target and serve ads to South Asian Internet consumers residing in the UK. AdMasala has partnerships with more than 400 publishers across various parts of the world, including Indian publishers.
It is important to notice that Komli Media has raised Rs 28 crore in July and is gradually building its reach or trying to tap the ad spends routed to target Asians and non-resident Indian (NRI) consumers. It already has its presence in Canada and the US market. In June, it purchased PostClick, an Australia based website representation firm which has presence across a few Southeast Asian nations such as the Philippines, Singapore and Malaysia, apart from Australia.
With the acquisition of Indoor Media, the ad network is now capable of reaching NRIs staying in the UK as well.
Though the amount of ad spends that get routed to target NRI consumers could not be ascertained, the amount must be significant - inducing ad networks to try to tap the NRI audience.
Recently, Ozone Media also announced that it will reach and set up offices in other parts of the world. Ozone Media has already established its presence in the US market.
A digital media expert points out that the ability to reach the NRI audience will not only enable an ad network to gain ad spends from Indian marketers but also from local marketers there. He justifies, "The average salary of an NRI staying in the US could be about $75,000 per annum, while the average salary of an American could be $47,000 per annum. Thus, the NRI audience has more purchasing power than the local people there.
It is estimated that there are more than 2 million NRIs staying in the US and the UK markets alone.
Mehta says, "Though we are expanding our presence across other markets of the world, a majority of our revenue (more than 50 per cent) will be from the Indian market only."