ValueFirst Messaging, an enterprise mobility and communication services company has acquired 100% stake in Bangalore based mGinger, in an all cash deal.The strategic acquisition will give ValueFirst another 4 Mn opted-in registered users in addition to the 50 Mn opted – in subscribers.
The move comes from the company just a month after acquiring Ways2Online Interactive that owns way2sms.com and 160by2.com - websites used by millions to send free text messages to any mobile phone in the country.In 2010, ValueFirst invested in online social network IndyaRocks, and acquired SMS Social Network Tagg.in for an undisclosed amount.
Launched in 2007, by Chaitanya Nallan, Veerendra Shivhare and Anil Sharma, mGinger offers monetary incentives for every ad served on their mobile and network with up to two levels of referrals.
Bangalore based mGinger provides advertisers with permission-based, targeted marketing. It enables advertisements including offers, vouchers, news and more, sent in the form of SMS on consumers mobile phones.
ValueFirst's primarily focus has been on the enterprise market, but it has focused on the consumer side of business in the last two years. The company was started in 2003 by Vishwadeep Bajaj and has owns an SMS advertising network SpotOn Media, SMS content publishing venture SmsMeOn, and content alerts Alertrix.
The company raised a funding of Rs 70 crore from Headland Asian Ventures Fund 3 and New Enterprise Associates (NEA) in February 2011.
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