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Monsoon Ads Merges Operations with Neoturks’ Video Ad Arm Spidio


May 19, 2014 - Gurgaon, Haryana, India

Monsoon Ads Pvt. Ltd, a leading proprietary video ad network and platform, announced today that it has entered into a definitive agreement to merge it’s operations with Spidio Technologies Pvt. Ltd. for an undisclosed amount. Spidio, a Gurgaon-based proprietary video ad-network, a part of NeoTurks Ventures Pvt. Ltd. is in the business of serving video and smart-widget ads over internet to its clients.
 
Harsh Nagpal, CEO of Monsoon Ads will take over as the CEO of Spidio Technologies and will be responsible for strengthening in-house ad serving capabilities, operations and overall strategy. Video advertising is the fastest growing segment in the digital advertising domain and the combined entity with strong capabilities in sales and an in-house technology platform is poised to gain immensely from the new synergies created.
 
Spidio is quickly emerging as one of the fastest growing video ad-platforms in India and is also helping clients advertise on some very exclusive properties including video ads-over WiFi hotspots at airports, premium malls, and other captive locations. Commenting on the development, Harsh Nagpal, Founder and CEO, Monsoon Ads said “Given our next-generation tech platform and extensive publisher relationships, this merger will help us achieve scale faster and bring innovative ad properties in the market”.
 
Spidio is a part of NeoTurks Ventures, an ecosystem of technology and ad-serving products helping its clients reach out to the vast internet audience in India, Asia Pacific, Australia and Middle East. Founded in 2014, by Nishith Srivastava and Dev Batra, the company (through its subsidiaries) delivers digital advertising solutions to more than 100 clients and all major agencies. “We believe Monsoon Ads will sharpen our tech ammunition through its innovative video platform and also drive our ambitious plans of setting up a state-of-the-art, analytics based Data Management Platform”, said Nishith Srivastava of NeoTurks Ventures.
 
Monsoon Ads will now operate under the Spidio brand name and the entity will focus on further evolving the tech platform and also providing innovative video and smart-widget solutions for it’s clients in India, Middle East and Asia Pacific.
 
About NeoTurks

NeoTurks is India's premier digital ad-tech company that is building innovative data and ad-serving platforms to help clients reach out to premium audiences in India, Asia Pacific, Australia and Middle East through its subsidiaries Lyxel – a data and demand side platform; Spidio – a video ad-tech platform and 1 Flamingo – a social media innovator. NeoTurks was founded by Dev Batra (IIM Lucknow, NIT Surat, Serial Entrepreneur) and Nishith Srivastava (Lucknow University, Serial Entrepreneur). In a very short time, NeoTurks has added several marquee clients across all of its service offerings and currently in the process of raising its Series A investments.

About Monsoon Ads

Monsoon Ads is a multi-geography proprietary video-ad network founded in India and the US. With a clear focus on technology and innovation in the video-ads space, the platform has been widely accepted by blue-chip clients and big agencies. Monsoon Ads is merging it’s Asia operations with Spidio while the US operations will continue to be managed by its founders from the US office independently.
 

Source: Business Wire India

BusinessWireIndia

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