Have been aware of this investment talk for the last few months and finally the cat is out the bag – IDG Venture has invested in Ozone and the deal size, though unconfirmed is around $4mn (BS).
Ozone Media has over 100 network websites as its partners in a revenue sharing model. The company also claims more than 40 clients including companies across diverse sectors such as HSBC, SBI, Yahoo!, Lenovo, Cleartrip and Citibank.
Ozone Media utilizes advanced behavioural and contextual targeting techniques to identify the most relevant websites for advertisers and further allows those advertisers to track performance of their campaigns.
The online advertising space in India, though fastest growing is still in the nascent phase (receives 2% of overall advertising spend), but the sector is one of the most promising growth area – estimated to be Rs. 450 crores currently, and is expected to grow to INR 2,000 crores over the next 3 years.
Very recently, Jivox, a US based video ad platform received funding from Helion and Opus Capital.
Also, IDG launched Aujus Networks, their first EIR venture.