Komli Media said this financing will allow it to materially scale its platform and operations by investing in its real-time bidding, data, analytics, and retargeting solutions to improve ROI for advertisers and yield for publishers
Mumbai: Media technology company Komli Media on Tuesday said it raised $39 million in a new round of investment led by Norwest Venture Partners, which will help it expand its presence and strengthen its technology platform, reports PTI.
Norwest Venture Partners, an already existing investor, led the current round of investment, along with Helion Venture Partners, Draper Fisher Jurvetson, and Western Technology Investment, it said in a statement issued here.
"This financing will allow us to materially scale our platform and operations by investing in our Real-Time Bidding (RTB), data, analytics, and retargeting solutions to improve ROI for advertisers and yield for publishers," the company's chief executive Prashant Mehta said.
In the statement, the company -- which offers solutions across display, mobile, video, social, search and data for advertisers, agencies, and publishers -- claimed it has grown 150% annually since 2009.
It now has over 5,000 leading publishers including exclusive relationships with Facebook and MSN and reaches 270 million users monthly, servicing 1,000 advertisers.
Raymond conducted a search for a new ‘Complete Man’ ad through a first-of-its-kind model hunt through Facebook this year
Mumbai: Raymond Ltd, world's largest producer of worsted suiting fabrics said its ad spend on social media is likely to grow by 400%, reports PTI.
The company had spent about Rs35 crore on advertising and marketing last fiscal of which Rs5 crore was on social media which was witnessing 400% growth in the first quarter of this fiscal, according to a press note issued.
The company conducted a search for a new 'Complete Man' ads through a first-of-its-kind model hunt through Facebook in first quarter of FY13 and for which it attracted hundreds of responses from young male models from across India, it said.
A report 'Explosion of Social Media: Transforming the Corporate Business Scenario,' released by ASSOCHAM in late 2011 observed that majority of start-ups, leading national and international companies operating in India are embracing social media to enhance their business and on an average spending anywhere between Rs2 lakh to Rs50 lakh a year on social marketing campaigns.
Manhattan jury finds Gupta guilty on three counts of securities fraud and one count of conspiracy out of six charges; faces upto 20 years in prison
Rajat Gupta, 63, whose meteoric rise to head McKinsey & Company, is considered one of the biggest Indian success stories, has been convicted of insider trading by a US court.
Gupta, an IIT Delhi and Harvard Business School alumnus, was charged with breach of fiduciary duties and for passing on inside information to Raj Rajaratnam, billionaire founder of the Galleon Group hedge fund, who is already serving an 11-year prison sentence after being convicted for securities fraud.
After a four-week trial, the jury at a Manhattan federal court found Gupta guilty on four out of six charges – these were three counts of securities fraud and one count of conspiracy. Interestingly, the date for sentencing is 18th October. Ironically, the Manhattan district attorney, Preet Bharara, who led the action against Mr Gupta is also of Indian origin with the reputation of being a tough crusader against white collar crime.
After a successful stint at McKinsey, Mr Gupta went on to become a director of top global companies such as Proctor & Gamble, Goldman Sachs, Rockefeller Foundation and the Bill & Melinda Gates Foundation. Mr Gupta was accused of leaking information to Mr Rajaratnam about investment guru Warren Buffet’s plan to invest $5billion in Goldman Sachs at the height of the financial crisis of 2008. Goldman Sach’s CEO Lloyd Blankfein was among those who testified against Mr Gupta during the trail.
The evidence against Gupta was believed to be mainly circumstantial, although one wire-tapped phone conversation used by the prosecution to bring charges against him has been widely circulated on the internet. It is learnt that Mr Anil Kumar, a close friend and colleague of Mr Gupta from McKinsey, who has pleaded guilty in the Galleon case, may have provided evidence against him as part of a plea bargain.
Interestingly, right until the judgement, Mr Gupta’s defence has held that there is no evidence of him having profited from the leak of confidential information to Mr Rajarathnam. But this only makes his indiscretion and leaks all the more curious and perplexing.
After his stint at McKinsey, Mr Gupta has spent a lot of time in India forging strong connections with Indian business. In an unusual display of solidarity, Indian industrialist including Mukesh Ambani, Adi Godrej, Kushal Pal Singh of DLF, Analjit Singh of Max India, Yogesh Deveshwar of ITC and Rajendra Pawar of NIIT and us based author Deepak Chopra posted messages of support on www.friendsofgupta.com a website started by another former colleague from McKinsey. Ashok Alexander, India CEO of the Bill & Melinda Gates Foundation (and son of the late Maharashtra Governor, Dr PC Alexander) was among those who was to testify for Mr Gupta. As the verdict shows, none of this made any difference to the jury.
Interestingly, Mr Gupta’s conviction is another blow to the Indian School of Business in Hyderabad of which he was a founder. However, Moneylife has always had a different take on Mr Gupta and his association with a series of dodgy Indian companies and some dubious acquisitions. However, so enormous was his reputation that nobody dared to question his motives. On the contrary, the Indian Prime Minsiter sought his advice and also invited him to head the prestigious Public Health Foundation of India (PHFI) which was quietly empowered to frame health policies and received astonishingly generous funding, land and budgetary support (running into hundreds of crore rupes) from the Union and state governments.
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