Komli Media has decided to sell off its entire India business to SVG Media, the Gurgaon-based media company, adding over 60 Million uniques to SVG’s portfolio. Financial details related to the deal have not been revealed though.
As per the terms of the deal, Komli will work as an independent entity along with existing businesses of SVG – Tyroo Technologies, DGM and SeventyNine. Komli Media has around 100 people in Bangalore, Delhi, Chennai and Mumbai, and around 400-500 clients. All of them will join SVG Media as a part of the deal.
Komli was founded in 2006 by Amar Goel and Akshay Garg. Its list of investors include Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson and Peepul Capital.
Komli Media receives about 60 million unique users on its platform. Taking that into account, SVG Media’s total reach comes to around 150 million unique users. Komli Media is the fourth and the biggest acquisition for SVG Media till date. SVG’s revenue from all businesses is at over $50 million. Over 75% of its business currently comes from mobile advertising.
Earlier this year, Komli sold its South East Asia business to Malaysia’s Axiata Group for around $11.5 million. Earlier this week, it spun out its mobile re-marketing platform RevX as an independent entity with $4 million in fresh funding.
Amar Goel, founder and CEO of Komli Media insisted that the deal was a merger, and not an acquisition. The company wanted to change approach, go more regional and invest more in technology.
Manish Vij, founder and chief executive officer of SVG Media, said,
We are determined to deliver to our advertisers a comprehensive suite of digital marketing products. With Komli’s addition, our advertisers will also get highest reach in social media. We are working hard to be the first billion-dollar digital marketing platform from India.
Gurgaon-based SVG Media was founded by Harish Bahl, Harish Behl and Manish Vij. Started in 2006, the company was formerly known as Tyroo Media.
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