Mumbai-based digital ad-tech company Fork Media has acquired a majority stake in Rappio Advertising, a digital audio advertising startup.
Rappio is a platform that enables brands to use their audio advertising formats such as ad jingles, promos and announcements to be played back as ringtones on end-user smartphones.
Incorporated in 2016 by Nirav Shah, Sahil Mehta, Ishan Doshi and Anuj Shah, Rappio has an Android app with over 50,000 downloads and an integration into other popular apps with a base of over 10 million users. Rappio enables advertisers to publish radio ads though the platform and incentivizes users to use them as their default ring tone.
Nirav Shah, co-founder of Rappio said: Fork Media and Rappio have a common vision for innovation and driving the advertising experience through alternate inventories in the digital medium. With their experienced leadership, innovative products and proven expertise, we think it’s a perfect fit to take Rappio to the next level.
On the other side, Fork Media founded by Samar Verma and Upen Rai in 2013. Rishi Khiani-led digital media and consumer Internet incubator Ant Farm, Fork Media, through its flagship platforms, provides a suite of native advertising solutions for publishers that enables them to activate, deploy and manage ad placements across media properties.
Fork Media has a slew of innovative native advertising and premium advertising products that are integrated on top tier publishers in India, UAE, Indonesia and Singapore.
Speaking on the deal, Samar Verma, Founder and CEO of Fork Media said: “At Fork Media, we have always believed in collaborating with the best minds in the ad-tech space and have been able to deliver many differentiated offerings to brands through our past acquisitions. We believe Rappio can cause a disruptive opportunity for brands to take their radio spends into the digital medium with high degree of measurability, targeting and transparency”.
As a part of the deal Nirav Shah will head the business division within Fork Media as CEO and Founder of Rappio while his company will operate out of Fork Media’s Mumbai headquarters and will leverage its sales and technology teams.
Last week, Fork Media had raised an undisclosed amount form Agnus Capital, the family office of promoters of pharma firm Strides Group.