14 DAY TRIAL // Yahoo proudly announced that it made impressive investments in Tyroo Media Pvt. Ltd, an Indian company that might be able to support the Sunnyvale company in its efforts to compete with rival Google. Basically, Tyroo is an online advertising company with approximately 1200 customers in the local market. Although there is no financial term disclosed, it seems like the giant portal acquired at least 35 percent of the Indian firm that might remain independent from the Sunnyvale parent company.
"We are happy to partner with Tyroo as it gears towards gaining significant market share in the Indian online advertising industry. Through this investment, Yahoo! will act as a catalyst for the entire ad-network industry in India which is still in a nascent stage. It will also signify our increasing focus in Indian online advertising networks," George Zacharias, Managing Director - Yahoo! India, said today.
Yahoo is continuously struggling to fight with Google, the Mountain View rival and in the same time, the owner of the most popular advertising platforms on the Internet. Moreover Google acquired DoubleClick, a company that was often described as the only competitor capable to challenge the search giant, so its power is not quite unlimited. As a reply, Yahoo acquired the remaining shares of Right Media, the only comrade to fight with the giant portal against the Mountain View enemy.
"It gives me great pride that Yahoo!, one of the leaders in the online media, technology and advertising space, has invested in our business. The global knowledge and experience that Yahoo! brings will help us scale our business. The funding raised will be used to further enhance our ad-serving technology, build a world-class team, and gain market share through reaching out to hitherto untapped advertisers and publishers in India," Harish Bahl, CEO, Smile Group, the owner of Tyroo, said today.
"The investment by Yahoo! is an indicator of the confidence which they have reposed in the Tyroo team and its vision for growth."