Oct 04, 2011, 09.01 PM | Source: PTI
D2 Communications (D2C), a mobile advertising subsidiary of NTT Docomo, today picked up minority stake in mobile media company Affle for Rs 50 crore.
"This is a strategic investment from D2C to strengthen our partnership. We are trying to leverage all the D2C know- how... technology, platform to grow base of advertiser that D2C has in Japan to at least Asia level," Anuj Khanna Sohum, Chairman, Affle Group of Companies told PTI.
Sohum said that most of the investment received from D2C will be made in Asia, particularly in India.
"We believe that developing Asian markets have huge untapped potential for mobile advertising and are confident that our experience from Japan would help Affle become the dominant mobile advertising player in these mobile-first markets," Takayuki Hoshuyama, CEO, D2C said.
Some of Affle clients in India include Nokia, Pepsi, ESPN and Maruti Suzuki.
D2C now joins Microsoft Corporation, Itochu Corporation, Bennett Coleman & Company Limited and Centurion Private Equity as top tier Series A and Series B primary investors in Affle, Sohum said.
"The second round of investment is a validation that D2C and Affle view each other as significant partners in growth and that the leadership teamsí on both sides share common goals of global leadership in mobile advertising and mobile products," Sohum said.
The first round of investment was made by D2C in February but the company did not share the investment amount.
Uttam Galva Steels' independent director D L Rawal passes away
Uttam Galva Steels Ltd has informed BSE about the
Budget 2016: Need FM to provide incentive to undertake R&D, says Mindtree
"I would anticipate the Budget to provide credit a
Gemini Communication: Outcome of board meeting
Gemini Communication Ltd has informed BSE that the
Alstom T&D India posts Q3 loss of Rs 18 crore
Reliance Communications' court convened meeting on March 08, 2016
Reliance Communications Ltd has informed BSE regar
D & H India consolidated Dec '15 sales at Rs 14.10 crore
D & H India has reported a consolidated total inco