The online publishing giant has acquired a stake of between 35 and 50 per cent in the online ad network owned by Smile Interactive Technologies
Yahoo! India announced on Wednesday that it has acquired a minority stake in Tyroo Media Pvt. Ltd, the online ad network of Smile Interactive Technologies Group (SITG). George Zacharias, managing director at Yahoo India!, said that the stake was “over 35 per cent and less than 50 per cent”.
Tyroo Media was launched in June 2006 and was formed under Studio Smile, an incubation programme of SITG for start-up companies and entrepreneurs. Tyroo Media has an online advertising network which works on a self-serve platform, where advertisers can put up their own online campaigns and have access to advertising space on about 1,200 publishers in India.
As with Yahoo’s acquisition of online ad network Real Media in April 2007, there may be apprehensions among Tyroo Media’s clients about its proximity with Yahoo! India. However, Bahl of SITG was quick to say that the companies would be “at arm’s length”, to which Zacharias added that Tyroo Media was an “independent company”. He also added that Yahoo! India has its own proprietary ad platform, which the company will continue using.