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Komli Media Notches Fourth Acquisition with ZestAdz

By | 22 July 2011 | 0:25

Earlier this week Mumbai-based ad network Komli Media completed its fourth acquisition till date with the ZestAdz, a mobile ad platform based in Chennai. The value of the deal has not been disclosed. Following the acquisition Komli will now be able to offer a full suite of digital advertising solutions across display, video, search, social media and mobile, said a press release.

ZestAdz currently delivers 5 billion mobile ad impressions globally per month. The company was founded in 2007 by technology entrepreneur Asif Ali. He will head the mobile products division at Komli following the acquisition.

Earlier this year, Komli also acquired Singapore-based digital media company Aktiv Digital for an undisclosed amount, gaining a physical presence in Singapore, Hong Kong, Malaysia and the Philippines. This was preceded by the acquisition of UK-based Indoor Media, an online marketing company, last October for an undisclosed sum. Its first acquisition was Sydney-based PostClick last June, giving it a presence in Australia and South East Asia.

Founded in 2006 by former MSN and Yahoo executives Akshay Garg and Amar Goel, Komli has raised over $28 million in venture capital so far. It raised an undisclosed seed round in 2007 from Draper Fisher Jurvetson (DFJ) and Helion Venture Partners. In 2008, it raised a $7 million Series A round from DFJ and Helion. It followed up with a $6 million Series B round from Nexus Venture Partners and existing investors. This January, it raised a $15 million Series C round led by Norwest Venture Partners.

The recent acquisitions by the company in relatively quick succession point to a strategy to build scale, possibly in preparation for an exit for its venture capital investors. This could either take place through an initial public offering or being acquired itself. The company claims to have more than 20,000 publishers on board. Its revenues are not known.

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