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Ybrant's $48 Million funding: More acquisitions on the row
By siliconindia
Hyderabad: The venture capital purse strings in India seems to be quite lose in 2011 and VC fundings have gained a sudden momentum to help entrepreneurs start up. The latest beneficiary of the trend is Ybrant Digital. The Digital Marketing solutions provider popularly known for its acquisition strategies have raised $48 million from Oak India investments, Asia Pacific Capital and ICICI bank.
Right from 2008, when the company first announced its plans of raising atleast $50 million, it had cleared out its mission - funding more buyouts and today, it is recognized among the startups who have made most acquisitions. Whether it is the $36 million acquisition of Lycos or the $13.5 million acquistion of Israeli ad firm Oridian. Till date it has acquired around six firms. And each funding round was accepted only to ensure more acquisitions. For instance, the company's earlier $26 million funding fueled its ad network in South America and Asia Pacific as it helped them acquire dream ad and Max Interactive. The company for sure will have a similar strategy in place as the financing comes in the wake of their major acquisition of Lycos ? a leading Internet and Search portal, and thereby the launch of its local search platform, 'Ybrant Reach' ('YReach') in India. "Having a buy-in from Investors like Oak, Asia Pacific Capital and ICICI brings validation to our business strategy, as we embark on our next phase of growth and expansion," said Suresh Reddy, Chairman and CEO of Ybrant Digital.
"Suresh and his team have demonstrated unique ability to identify, acquire and integrate, relevant businesses across the world. We are confident that Ybrant will emerge as the digital marketing leader of the next generation with emphasis on global growth and new media," said Roy Rodrigues, advisor to Oak Investment Partners.
