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March 21, 2012, 10:47 am UTC
Networkplay today announced that Gruner + Jahr, the publishing division of European media conglomerate Bertelsmann AG, has acquired a majority stake in the company. Networkplay is India’s fastest growing digital ad network with a leading presence on internet, mobile and DTH platforms and partnerships with best in class advertisers and publishers.
Networkplay was incubated in 2008 by Webchutney, India’s leading digital advertising agency and funded by Capital18, the venture capital arm of the Network18 group. Since inception, Networkplay has successfully executed its vision of creating a highly effective and scalable advertising solution across all digital platforms. Over the last 3.5 years, the company has grown at a rapid pace to reach an execution capability of over four Billion impressions per month across 500 publishers and 350 advertisers. Networkplay has emerged as the partner of choice for advertisers and publishers due to solid execution capabilities, innovative services and a top notch team. Networkplay has also brought global event franchises such as ad:tech and iMedia Summits to India, in partnership with dmg::events, a leading international events company that manages over 80 events in over 25 countries.
Rammohan Sundaram, Founder & CEO of Networkplay, said, “This is an exciting phase in our journey and we are delighted to partner with a global company that shares our ambition and vision. We are privileged to be part of the Bertelsmann group with operations across the world. We believe this partnership is a testimony to our unique proposition, strong execution capabilities and the extraordinary team we have built over the last few years. This is a positive outcome for all our stakeholders, especially our customers as we now aim to enhance our innovative and execution capabilities in line with the world class standards and experience that Gruner + Jahr brings to this partnership. I would like to thank Sidharth and Sarbvir for having the confidence in us and helping us grow an idea to what Networkplay is today. They shared our enthusiasm and vision and have been great partners through this journey”.
Gruner + Jahr is one of the world’s leading media groups and its Electronic Media Sales (EMS) division is a leader in the digital advertising space in Europe. G+J recently acquired the majority of MaXposure Media and this is their second strategic investment in India.
Dr. Torsten-Jörn Klein, Executive Board Member and President of Gruner + Jahr International, said, “The expansion of our activities in India is clearly in line with the strategic priorities of Gruner + Jahr. After the acquisition of MaXposure in the print space, G+J is now acquiring Networkplay, one of the fastest growing digital companies in India and follows its strategy to build a combined portfolio of print and digital media activities.”
Kuldip Singh, CEO, Gruner + Jahr India will join the board at Networkplay & will also be its CFO. He commented, “Networkplay was one of the several companies we were looking at when we decided to build our digital business in India. We zeroed in on NP simply because of the brilliant team along with the strategic vision that Ram had for the company thus far, also they have shown very attractive growth in revenues in such a short time of their existence. We are extremely thrilled to bring Networkplay under the G+J Group and I am confident that with our strategic vision this company will consolidate its leadership position going forward”.
BMR Advisors was the exclusive advisor to Capital 18 and Webchutney on this transaction
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