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Yahoo buys 35% stake in Tyroo Media
By siliconindia
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Thursday, 19 July 2007, 19:30 IST
New Delhi: Yahoo will buy over 35 percent stakes in Gurgaon-based Tyroo Media. A part of Smile Interactive Technologies Group (Smile Group), Tyroo is an ad-network, which offers services for advertisers and publishers.
The investment is expected to enable Tyroo to access Yahoo's knowledge of Internet advertising and help Tyroo in expansion. Yahoo, however, did not reveal the quantum of the investment.
"Through this investment, Yahoo would act as a catalyst for the entire ad-network industry in India, which is still in a nascent stage. It would also signify our increasing focus in Indian online advertising networks," said George Zacharias, MD, Yahoo India.
The cash infusion by Yahoo would be used to invest in technology and sales network to reach out to small and medium sized advertisers and publishers in India. Tyroo is planning to to set up sales offices across the country and recruit more people by the year-end. Yahoo will get a seat on the board of the company.